Last March, WPP bought Clear, New York-based social influencer marketing agency, and agency from Goat data-driven influencer marketing. Second acquisition fThey are part of WPP’s accelerated growth strategy where influencer marketing has become a priority.

Between January and July this year, British holding company WPP recorded revenue of £7.221 million, which was a growth of 6.9% over the same period the previous year, which amounted to 6.755 million.

This was revealed by its latest earnings report, which also revealed that the company had a resilient performance, with the second quarter impacted by lower revenue in the US from technology clients and delays in spending on technology projects.

For the full year, the company expects growth of between 1.5% and 3% (3-5% previously), while the overall fiscal 2023 operating profit margin will be around 15.0% (excluding FX impact).

WPP results were driven by strong new business performance: $2 billion of net new revenue in the first half with more potential for new business than the same period in 2022.

Also, the acquisition of an influencer marketing agency goat And clearand investments in Majority, a diversity-led creative agency, have also boosted results.

“Our first half performance has been resilient, with accelerated second quarter growth in all regions except the US, which was impacted in the second quarter by lower technology customer spending and several delays in technology-related projects. This is felt especially in our integrated creative agency. China returned to growth in the second quarter, albeit at a slower pace than expected. In the short term, we estimate that the activity pattern from the first half will continue into the second half of this year,” he said. Mark Read, WPP Executive Director.

Read added that GroupM’s media business grew steadily in its first six months, as did businesses in the UK, Europe, Latin America and Asia-Pacific. “Customer spending in consumer packaged goods, financial services, and healthcare continues to be good, and despite short-term challenges, our technology customers represent a significant driver of long-term growth.”

The executive also highlighted WPP agency’s participation in the last edition of the Cannes Lions Festival, where its agencies won five Grands Prix and 165 Lions with Mindshare being recognized as the most awarded media agency. “We have secured significant new business assignments with clients including: Reckitt, Mondelēz, easyJet, Lloyds Banking Group, Pernod Ricard and India’s second largest advertiser, Maruti Suzuki.”

Like other large global companies, WPP is following the path of Artificial Intelligence in its various business units: “We have exciting future plans in AI based on the acquisition of Satalia in 2021 and the use of AI in WPP. We leverage our efforts by partnering with major players, including Adobe, Google, IBM, Microsoft, Nvidia, and OpenAI, and we also deliver AI-powered jobs for many clients, including Nestlé, Nike, and Mondelēz. AI will be critical to WPP’s future success and we are committed to embracing it to drive growth and long-term value.”