by John Andrews and Ted Rubin
Ad giant WPP recently reduced its full-year earnings for the second time this year with CEO Sir Martin Sorrell citing a myriad of challenges… from consumer goods company spending cutbacks, to Trumponomics (disappointed by this reference to say the least). Sorrell’s comments over the past couple years, and in the Cheddar interview here, highlight the challenges facing the ad industry and its clients as media consumption increasingly migrates to digital channels and on-demand consumption and the “me” media evolution. Sir Martin also points to the fact that Google, and now Facebook, have become the largest investment pools WPP is deploying for their clients. Maybe the problem lies in the fact that Facebook and Google are tactical vs. strategic decisions but are being treated as overarching, and all encompassing, approaches. Many media decisions currently being made in digital seem to be retreads of traditional media tactics where bigger is better… and interruption is still rules the day (a strategy fast facing extinction).