PRNewser TVNewser TVSpy LostRemote SocialTimes AllFacebook FishbowlNY FishbowlDC GalleyCat

WPP Will Double Its Spending Budget on Twitter in 2014

twitter-wpp

In another headline from Cannes-Lions, WPP Grand Poobah Sir Martin Sorrell told the world that he will double ad spending on “The Twitter” (as he may have called it) from $50 million to $100 million.

The news was announced when Sorrell moderated a discussion between Twitter’s Dick Costolo and Viacom’s Philippe Dauman. Of course he took a jab at rivals Omnicom and Publicis for their recent ill-fated “merger of equals,” but he focused mainly on the differences and commonalities between digital-first and the legacy media giants.

After citing the impressive market valuations and financial stats associated with Twitter’s recent IPO, Sorrell noted that WPP’s GroupM will double its spending with the microblogging platform, boosting its ad spending from $50 million last year to $100 million this year. Based on Sorrell’s figures, that means GroupM contributes nearly a fifth of all of Twitter’s advertising revenues.

Now what would you do with that kind of budget? Maybe not spend it all on Twitter?

Mediabistro Course

Applied Web Analytics

Applied Web AnalyticsStarting November 24, learn how to use metrics to drive your business goals! In this course, you'll learn how to set goals and produce results based on data, identify and track the KPIs for your website, and integrate your analytic efforts into your overall marketing strategy. Register now!