WPP CEO Mark Read Tells Staff Omnicom-IPG Deal Is ‘Good News For Us’

WPP boss Mark Read has described Omnicom Group’s acquisition of Interpublic Group (IPG) as a “moment of opportunity” for the U.K.-based ad network, urging employees to keep delivering for clients “without distractions.”

“Clients will not have missed the fact that, in the last week or two, several of our competitors have spent a lot of time talking about themselves. This is a moment of opportunity for WPP to stand out through an unwavering focus on our clients and their interests, not our own,” Read told staff in a memo seen by ADWEEK.

Last week, WPP, along with the remaining four of the ‘big six’ ad agency networks, was dealt a blow when the mega-merger was confirmed.

Omnicom’s newly combined company boasts revenues of $25.6 billion based on 2023 figures, giving it the ability to topple WPP, which has long held the title of the world’s largest holding company by revenues.

WPP pulled in $18.5 billion in 2023. For 2024, it is about to be unseated by Publicis Groupe, with financial research platform Visible Alpha forecasting Publicis to report revenues of $14.5 billion by the end of 2024, versus WPP’s $14.17 billion.

Last week, Publicis Groupe CEO Arthur Sadoun warned staff the network’s stint at the top of the table might be short-lived following the Omnicom-IPG acquisition. However, he was optimistic about the deal’s wider impact on the industry amid a move to “three main global players.”

Addressing WPP’s 114,000 employees across 100 countries, Read struck a similar optimistic tone. He was bullish in his outlook that the deal was “good news” for the Ogilvy and VML owner.

“Over the next two years, as [Omnicom and IPG] focus on finding annual savings of $750 million and doing the hard work we have already done within our company – simplification, integration, consolidation – we will be doubling down on our strategy: doing outstanding work for our clients, championing creativity, investing in the future through AI, data and technology, and building great careers for our people,” he said.

He added that while peers were “distracted and turning inward,” WPP’s teams were “getting on with the job of delivering exceptional results and value” for clients. “And that’s how we will win in 2025,” he continued.

ADWEEK reached out to Omnicom for a statement following Read’s memo. It did not immediately respond.

Ink is expected to dry on the deal within 12 months, pending regulatory approval.

You can read the full memo Read shared with staff on Friday (Dec. 13) below.

To everyone at WPP

As we approach the end of the year I would like to thank you for your part in the brilliant work we have done together over the last 12 months.

At the Cannes Lions Festival, WPP was named Creative Company of the Year, Ogilvy was Network of the Year, GroupM was the leading media group, and our clients The Coca-Cola Company and Unilever were Brand and Marketer of the Year respectively. An extraordinary achievement shared by everyone at WPP.

Our ability to deliver at the highest level for clients brought success in the two biggest media pitches of the year – Amazon and Unilever. There were other important new media assignments for Nestlé, Henkel and Honor, major creative wins included Unilever’s beauty portfolio and AstraZeneca, and we retained the hugely significant, 10-year United States Marine Corps recruitment brief. WPP Open – our AI-powered marketing operating system – was at the heart of these and many more wins, as it supercharges our capabilities across media, creative, PR, production and branding.

This time of year is a wonderful showcase for what we do, as our agencies’ amazing festive campaigns underscore why clients place their trust in us. This year, AKQA brings us the drama and beauty of Chile’s mountain ranges for UGG; Burson continues to drive the cultural phenomenon that is Spotify Wrapped; Wavemaker and Ogilvy join forces once again to celebrate Diwali for Cadbury; while the Christmas Makeover for Boots from VML and Hogarth has got everyone talking. Ogilvy’s funny campaign for Verizon makes sure it remains “the most wonderful time of the year”; WPP Open X, on this occasion led by VML and supported by Ogilvy PR and EssenceMediacom, delivers the second year of Coke’s The World Needs More Santas; and Mindshare partners with M&S Food’s creative team to plan the ultimate Christmas party.

As we look forward to 2025, we know the year ahead will bring many changes within and beyond our industry. All major companies are thinking about how to capitalise on the opportunity of AI; the impact of shifting geopolitics; the best ways of working in the post-pandemic era; evolving regulation affecting marketing and the use of AI in particular; and how and when to engage on social issues in a more complex, contested public arena.

Meanwhile, clients will not have missed the fact that, in the last week or two, several of our competitors have spent a lot of time talking about themselves. This is a moment of opportunity for WPP to stand out through an unwavering focus on our clients and their interests, not our own.

The big news in our industry, that Omnicom is buying IPG, is good news for us at WPP. Over the next two years, as they focus on finding annual savings of $750 million and doing the hard work we have already done within our company – simplification, integration, consolidation – we will be doubling down on our strategy: doing outstanding work for our clients, championing creativity, investing in the future through AI, data and technology, and building great careers for our people.

And we’re not standing still: Wednesday brought the news that we had beaten Publicis and IPG to win Johnson & Johnson’s media business in the US and Canada, and yesterday we announced a new partnership with the world’s biggest music company, Universal Music Group, to create even more innovative solutions for our clients.

In other words, while our peers are distracted and turning inward, we are getting on with the job of delivering exceptional results and value for the world’s leading brands. And that’s how we will win in 2025.

So, thank you for your hard work in 2024 and let’s look forward to next year with optimism and confidence. As always, if you want to share any thoughts please email me.

Wishing you a very happy and peaceful holiday.

Mark

Keep up with ADWEEK’s coverage of the Omnicom-IPG takeover here.