WPP boss Sir Martin Sorrell has revealed the global advertising giant is spending around $US70 million with social media platform Snapchat on behalf of its clients.
Speaking at the UBS Media and Communications Conference this week in New York, Sorrell also said that WPP will continue to up the ante on its ad spend with Facebook, which has been “trying to undermine Snapchat”, The Wall Street Journal reported.
“Clearly there is some concern [by Facebook] about the penetration Snapchat is getting,” he said.
Sorrell also floated the idea at the conference that traditional media owners could form a third force to counter the duopoly of Google and Facebook.
WPP said in late August that it continued to increase its ad spend with Facebook and Google, largely due to growth in spending on mobile search, according to The Wall Street Journal.
Sorrell said at the time that the company expects to spend around $5.5 billion with Google this year, compared to $4 billion last year, and $1.7 billion with Facebook, compared to $1 billion last year.