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Advertisers “no longer staring in the abyss”

18-10-2010   


 

He states that spending money has “turned a corner” during November and the WPP’s agencies are having to experience better trading. With Christmas fast approaching, sales in advertising should inevitably increase as competition will alike.

Mr Martin has said that he will expect a better change in revenue between April and June this year due to the11% decrease in comparison to this time last year. Mr Martin believes that “there will be a little bit of growth, but there certainly should be compared from last year” meaning the money will increase again. Mr Martin said “any improvements made so far is nothing to get excited about”, he added that he expects sales to be flat over the full year. He states that “people think flat is the new up.”  “I’m amazed when media companies trumpet a reduction in the rate of the decline.”  WPP will only declare victory when growth has occurred.

“The overriding theme is that clients still feel they have to cut costs”.
Mr Martin says  “you can cut your way to prosperity.” Unemployment especially for young people in Spain and the UK, has made companies very nervous about increasing the amount of money they spend.

So called BRIC nations Brazil, Russia, India, China, Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippine, South Korea, Turkey and the Vietnam are experiencing the fastest growth.

Mr Martin warned  the public that it would be a “hard slog” to drag Western Europe especially back to growth.

With great hope WPP will achieve its target of increasing the proportion of it’s sales coming from digital media from a quarter to a third ahead of its five year target.

Written by Rochelle Beckford




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