LONDON: Sir Martin Sorrell, ceo of marketing services conglomerate the WPP Group, says new media such as social networks "have been and will be an opportunity, not a threat" to advertising holding groups, and will offer a greater degree of insight into the media habits and behaviour of consumers.
Sorrell (pictured) has previously stated insight generation is central to WPP's future strategy, and has written about pursuing the opportunities available in fast-growing regions such as Asia Pacific.
Speaking in an interview with US website Agency Spy, he added that that the "interactive dialogues" promoted by new media and social networking sites will enable advertisers and agencies to "target more and more effectively."
He further suggested that WPP's operations across mobile, online video, social networks and other forms of new media meant it was "flexible, responsive, quick and entrepreneurial" rather than being "one monolithic, elephantine company".
According to Sorrell: "Big agencies have the advantages of breadth and depth of planning, creative and executional skills. Smaller agencies have the advantages of speed and responsiveness. We have both big and small."
Data sourced from Brand Republic; additional content by WARC staff