Five of ad-giant WPP's agencies have consolidated into a 'Superunion' amid a background of uncertainty in the advertising industry.
The new mega agency, led by former The Partners chief executive Jim Prior, will bring together 750 people across 18 countries, billing in excess of $100m worldwide. Its clients include Diageo, FIFA, Ford, Bank of America Merrill Lynch, and Vodafone.
“The world needs creative solutions to stimulate growth in a way that traditional approaches alone cannot achieve" said Prior. "That creativity has to be applied at the centre of the business, where it can affect things like innovation, product and service, recruitment and retention, culture change, people’s experience of the brand, and the driving purpose of the organisation."
WPP had a rough ride last year. Whether market uncertainty or tight budgets; Facebook and Google's Duopoly, the misplaced ads scandal, or the ever-growing scope of management consultancies; the ad giant's share price plunged.
This consolidation is part of a wider move by WPP to shed excess. Last year MEC and Maxus were joined to form Wavemaker, a new global media network under GroupM, along several other such consolidations.
“The pressures that we’re seeing accelerate the need to simplify what we’ve got,” said Sorrell at the time.