Where is the world of advertising at today?
It’s easy to say that advertising is dead (it’s not). Here is something that most people (even the smart business folks that you know) don’t realize: advertising spend (paid media) will climb in 2016 by 5.7% to $542.55 billion this year (according to eMarketer‘s article, Worldwide Ad Spending Growth Revised Downward). What does that really mean? The impact of advertising on the overall economy is an important part of what moves our world economy forward and – more importantly – the people at the top of the advertising industry have a pretty amazing insight into where our economy is at, where it’s going and how healthy things are. It’s hard to imagine that there is anyone on a higher perch than Sir Martin Sorrell the chief executive officer and founder of WPP – the world’s largest marketing and communications holding company and network (full disclosure: WPP acquired our agency, Twist Image, in 2014 and we rebranded as Mirum in 2015). WPP has a $28+ billion market cap (as of this writing).
Current status and moving forward.
ET Now’s Brand Equity show sat down with Sir Martin a few weeks back to discuss everything from Brexit and the Cannes Lions to mediapalooza, the US election and more. How is the advertising industry adjusting to our ever-changing world? What does your business need to be thinking about, at this point in the year?