All that ails WPP and the wider agency business
In 2017, WPP, the bellwether of the ad industry, had its worst year for revenue growth since 2009, as the agency network wrestled with issues that have impacted every major network to some degree.
Upheaval in the way advertisers spend their money rocked the world’s biggest holding group by sales in 2017. CEO Sir Martin Sorrell said it was “not a pretty year,” but the future for his business looks even bleaker. The fortunes of the big agencies are viewed as the doyen for the global economy, yet the biggest ad network is seemingly collapsing as the market holds up. WPP is facing an existential crisis on all fronts.