WPP Boss: Google, Facebook, Twitter Masquarading As Tech Outfits
SIR Martin Sorrell, chief executive of WPP, the world’s largest advertising company, has told an FT Digital Media Conference that Google, Facebook and Twitter are “media owners masquerading as technology companies.”
“Google sells Google, Facebook sells Facebook. Twitter sells Twitter,” added Sorrel. Last year WPP spent $2 billion on clent ads across Google, $500 million on AOL/Yahoo and about $200 million on Facebook, he said, adding that the ad spend on Twitter was “very much smaller.” He predicted that by the end of 2014, Google is likely to take over the Rupert Murdoch empire as being at the top of the list that WPP spends its clients' ad money on.
He added if he were going to invest in any of these stocks, he’d put his money into Google and Amazon. “If I were buying it for my grandkids, that is where I would put it," he added.