WPP reported double-digit revenue gains of 10.5 percent for 2016’s first quarter equaling approximately $4.5 billion. This is up from the first quarter in 2015, which totaled $4.2 billion including 5.1 percent revenue growth – like-for-like basis.
The good news for the ad/PR conglomerate based in the U.K. didn’t stop there either. They also reported an 8.1 percent net sales growth – showing 3.2 percent like-for-like gains. Almost all of their sectors and regions were in the positive except it’s data investment management properties, which still reported revenue gains.
Billings increased 8.3 percent totaling approximately $17.4 billion (£11.922 billion), and new business was also up in Q1 by about $1.8 billion – in Q1 of 2015, it was up by only $1 billion.
North America’s performance was particularly strong, but all other regions also showed strong trends. In North America, they showed a 6.9 percent like-for-like revenue growth and a 3.9 percent gain in net sales growth. Second to North America, the U.K. boasted gains of 4.7 percent like-for-like revenue gains and 3.2 percent like-for-like sales growth gains. These were followed by Western Continental Europe, Asia Pacific, and the Latin American, Middle Eastern and Central and Eastern European regions.
The PR side of WPP’s revenue includes powerhouse agencies such as Hill+Knowlton Strategies, Cohn & Wolfe, Finsbury, Burson-Marsteller and Ogilvy Public Relations. These showed a 6.9 percent increase totaling approximately $349 million (£239 million) for 2016 Q1, up from about $327 million (£224 million) reported from the first quarter in 2015.
WPP celebrates 30 years in business during 2016 and is projecting like-for-like revenue growth of “well over 3 percent” for fiscal 2016, similar to their 2015 forecast
SpiderBoost acquired by rbb
Miami-based rbb Communications, founded in 1975, announced last week they acquired digital marketing shop SpiderBoost Interactive, though no terms of their purchase have been disclosed.
SpiderBoost, also based in Miami, was founded in 2005 and specializes in search, social media, web design, and lead generation. In 2014, they reported $2.4 million in revenues. The company will go through a minor name change moving forward to be called SpiderBoost Communications.
The social media division for rbb, Digital Park, also based in Miami, will collaborate with SpiderBoost on future projects, but at least for the time being, the two will remain separate and operate as different units within the company.