As WPP noted in its earnings release today, GroupM was up 17% in the first half of the year and 29% in Q2.
But perhaps more importantly, WPP execs noted on an earnings call Thursday, GroupM is up nearly 4% in the first half versus the same period in pre-pandemic 2019.
WPP CEO Mark Read said the gains demonstrate the growth potential for media services “in a more complicated world.”
And newer media channels are showing strong client demand, said Read, noting that media related to commerce services was up over 60% in the first half and that Finecast, GroupM’s connected TV offering was up 113% in the same period, while programmatic arm Xaxis increased 56%.
Read said increased demand for commerce services reflects a “fundamental change in how clients sell,” and that such services will be a huge opportunity for the company for years to come.
WPP’s creative agencies also bounced back to pre-pandemic levels, collectively posting a 0.4% gain in the first half versus the 2019 period. Company CFO John Rogers gave a shout out to Ogilvy for posting “really strong growth” so far this year.