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Hello marketers ☕🧇
Hope you’ve had a good week!
Let’s get into today’s hot news.
📉 WPP Faces Revenue Decline Amidst Market Challenges
WPP, one of the world's leading advertising conglomerates, reported a 0.7% decrease in revenue, totaling £14.7 billion for the fiscal year ending December 2024. Profit before tax also saw a 3.8% decline, reaching £1.5 billion. The company attributes these downturns to reduced client advertising expenditures and increased tariffs under recent U.S. trade policies. Notably, WPP experienced a significant 20.8% sales drop in China and weaker performances in both the UK and U.S. markets. In response, WPP is investing in artificial intelligence and has secured $4.5 billion in net new billings. The appointment of former BT Chief Executive Philip Jansen as the new chairman suggests potential restructuring efforts aimed at revitalising growth.
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💡 Quick Marketing Updates You Should Know
Heritage Grocers Group Appoints New VP of Marketing: Allison Garcia has been named Vice President of Marketing at Heritage Grocers Group, the largest Hispanic and ethnic food retailer in the U.S. Garcia brings extensive experience from her 16-year tenure at Kroger, where she held various marketing leadership roles. Perishable News
M&M's Offers Exclusive Times Square Sleepover: M&M's is hosting a sweepstakes granting a winner and four guests an overnight stay at its flagship Times Square store. The event includes glamping, games, and a private shopping spree, coinciding with the launch of the M&M's Fun Club rewards program. New York Post
Spoof Ad Targets LNG Industry's Greenwashing: Activist group The Yes Men placed a satirical ad in the Maritime Executive journal, introducing a fictitious mascot, "Scrubby Greenwash," to critique the liquefied natural gas industry's environmental claims. The Guardian