WPP’s Mark Read calls Omnicom-IPG deal an opportunity to ‘stand out’

WPP CEO Mark Read called Omnicom Group’s proposed acquisition of Interpublic Group of Cos. an opportunity for the London-based holding company to “stand out,” according to an internal memo to employees obtained by Ad Age. “Clients will not have missed the fact that, in the last week or two, several of our competitors have spent a lot of time talking about themselves,” Read wrote in the memo, which recapped some highlights from WPP’s year and thanked employees for their performance. “This is a moment of opportunity for WPP to stand out through an unwavering focus on our clients and their interests, not our own.” The Omnicom-IPG deal would put intense pressure on WPP, which would lose its longstanding status as the world’s largest agency holding company should the deal go through, industry insiders previously told Ad Age. Omnicom and IPG combined for $25.6 billion in total revenue in 2023, surpassing WPP’s $18.5 billion. WPP, which has had flat revenue in recent quarters, has been merging its entities over the past couple of years and also considered its options if it were to go private, according to multiple people close to the situation. Tracking the latest Omnicom-IPG merger news and analysis But Read said in the memo that Omnicom buying IPG is “good news” for WPP. The holding company declined to comment on the memo. Omnicom declined to comment. IPG did not immediately respond to a request for comment. Read: Omnicom-IPG merger possible client conflicts “Over the next two years, as [Omnicom and IPG] focus on finding annual savings of $750 million and doing the hard work we have already done within our company—simplification, integration, consolidation—we will be doubling down on our strategy: doing outstanding work for our clients, championing creativity, investing in the future through AI, data and technology, and building great careers for our people,” Read wrote in the memo. In January, WPP pledged to spend $318 million annually on AI. Read added that WPP is not “standing still,” pointing to the holding company’s recent media win with Johnson & Johnson and new partnership with Universal Music Group as examples. Ad Age World’s Largest Advertisers 2024 Global ad spending, rankings, analysis and profiles for the biggest marketers Click here “While our peers are distracted and turning inward, we are getting on with the job of delivering exceptional results and value for the world’s leading brands,” Read wrote. “And that’s how we will win in 2025.” WPP’s memo comes after Publicis Groupe Chairman and CEO Arthur Sadoun responded to the Omnicom-IPG deal in an internal video to employees, dubbing it a “positive” for the industry.

WPP’s Mark Read calls Omnicom-IPG deal an opportunity to ‘stand out’

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