WPP: has Mindshare lost HSBC's media budget?
(CercleFinance.com) - Mindshare, the agency of the British advertising giant WPP, has reportedly lost its 13-year-old media budget for HSBC to Omnicom's subsidiary PHD, Invest Securities said today, quoting the specialist information site AdAge.
This site states that HSBC's global media spend was about 150 million dollars in 2016, although some people estimate it at substantially more, at around 400 million dollars.
More than the amount in itself, this budget loss shortly after the Martin Sorrell's departure will rekindle speculation around whether the former CEO of WPP played a key role in winning budgets, Invest Securities reacted.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
This site states that HSBC's global media spend was about 150 million dollars in 2016, although some people estimate it at substantially more, at around 400 million dollars.
More than the amount in itself, this budget loss shortly after the Martin Sorrell's departure will rekindle speculation around whether the former CEO of WPP played a key role in winning budgets, Invest Securities reacted.
Copyright (c) 2018 CercleFinance.com. All rights reserved.