Sir Martin Sorrell, the industry's most prominent agency spokesman, now has the difficult job of explaining, on behalf of WPP and of the industry in general, why revenue growth has been so difficult to achieve and what can be done about it. Since its peak in 2015, WPP shares have fallen 28% in value. In the main, Sorrell points his finger at "major customers, who are holding back ad spending to cut costs, and the long-term impact of technological disruption and the short-term focus of zero-based budgeters, activist investors and private equity."
By Michael Farmer
