Mark Read and John Wren on Meta, X and Trump
WPP’s Read and Omnicom’s Wren each said that the issue of brand safety on social media is still important for marketers, despite a growing number of signs that advertisers are being forced to forgo the concern.
Meta’s reversal of its moderation policy, the most recent sign, shocked a number of WPP clients, Read said—they grew nervous about the future and are trying to understand what it could mean for their social media strategies. However, Read did not outright criticize the move, calling it “pragmatic” in the sense of currying favor with the incoming Trump administration.
For Wren, one concern about Meta is that it may not be able to replicate the community notes system in countries beyond the U.S., such as those belonging to the EU, he said. The EU maintains stricter data laws than the U.S., which Meta CEO Mark Zuckerberg explicitly called out in his announcement earlier this week.
Zuckerberg’s move, as Read alluded, was widely viewed as a concession to President-elect Donald Trump, who has not shied away from openly criticizing the Meta CEO in the past.
According to a media executive at CES speaking on background, brands were worried that Trump could take similar grievances against them, as well as their acquisitions and social stances. The media executive said that the same worry extends to Musk, who has recently cozied up with Trump. This could mushroom into pressure to satisfy Musk and feeling forced to spend more to advertise on X.
Wren agreed that brands are feeling pressure from both men.
“You have a very unique individual saying whatever is on his mind and companies are finding their way through it,” Wren said, referring to Musk. As long as brands are following their principles, they should not seek approval from either man, he said.
Despite the specter of Musk, X has seen more advertisers return to its platform over the past six to nine months, according to Read. But the company “still has some ways to go” when it comes to convincing brands in order to see a return to 2022 numbers, Read said.
On Wednesday night, Musk and Stagwell’s Penn had a live conversation on X. They discussed topics such as robotics, the future of Musk’s neurotechnology company, Neuralink, Meta’s move to eliminate third-party fact checking on its platforms and more. The executives did not make any formal announcements.