WPP chief Sir Martin Sorrell says his global network of agencies will plough more than US$70m into Snapchat on behalf of its clients in the coming year.
The WSJ, which attended the UBS Media and Communications Conference where Sorrell was speaking, reveals that WPP will also increase its spend with Google and Facebook.
The GroupM owner will spend about $5.5 billion with Google, it said, compared with $4 billion last year, and $1.7 billion with Facebook, compared with $1 billion last year.
“Clearly there is some concern [by Facebook] about the penetration Snapchat is getting,” Sorrell is reported to have said.
“Traditional media owners themselves could put together an effective third force to counter the duopoly of Google and Facebook,” Sorrell added.
The bond between WPP and Snapchat is strong. Last June, WPP teamed up with Snapchat and the Daily Mail to launch Truffle Pig, a dedicated content marketing agency, based out of the US and led by former Group SJR managing partner Alexander Jutkowitz.
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