Sir Martin Sorrell has used the announcement of his new venture S4 Capital’s impressive half year figures to launch yet another veiled dig at his former muse, WPP.
Announcing that S4 was on track to double in size by 2021, Sorrell again lambasted the advertising industry – presumably WPP – for failing to move with the times and clients’ needs.
“Traditional advertising agencies are paranoid about incumbent relationships. They want to maintain status quo while their clients want to change it,” Sorrell said.
“There is a long way to go before we’ll (S4) get worried,” he said, before highlighting how S4’s growth had benefited from its “small beginnings”.
Reporting on its financials, S4 announced that it had booked £184 million ($A330 million) in business in the six months to June. To put that in perspective, S4 nabbed just £59m ($A105 million) in business for the full year in 2018.
The company made a pre-tax loss of £8.5m ($A15.2 million) in the first six months of 2019, which turned to a pre-tax profit of £6.5m ($A11.6 million) when adjusted for acquisition-related expenses and other costs.
It’s also claimed that S4 has increased its head count by an impressive 60 per cent in the past 12 months to 1375 employees.
However, Sorrell added that maintaining the strong numbers would prove a “tough hurdle” for the newly formed company, but he expected impressive numbers from its biggest heavy hitters MediaMonks and MightyHive.
“These results confirm the power and relevance of the faster, better, cheaper, digital-only unitary advertising model, with first party data fuelling content and programmatic,” Sorrell said.
“Now the task is to build significant scale organically, by broadening and deepening existing and new client relationships and adding resources through merger and acquisition.”
Commenting on S4’s performance, UK investment bank Liberum added: “The company continues to demonstrate very strong growth and has decided to prioritise top-line growth over profits, which is the right strategy given the opportunities.”
Verizon Media’s talent program has come to an end for the third year, closing with a hybrid pitch-off event for Musicians Making A Difference (MMAD). The Verizon Media Academy class of 2021, made up of 44 emerging leaders from across Australia and New Zealand media, advertising and marketing industry, were given just one hour to […]
Social purpose organisation UnLtd’s Big Games competition has raised a combined $85,000 for children and young people at risk. Running over five weeks, the competition involved 32 teams from across the advertising, marketing and media industries battling it out virtually for a chance to qualify for the Rocket League final. The tournament culminated in a […]
Stan has announced that the Stan Original Film Transfusion commenced filming in Sydney earlier this week and will premiere on Stan in 2022. Transfusion is a taut, muscular thriller starring Sam Worthington (Avatar) as Ryan Logan, a former Special Forces operative, who is battling to cope with life after the loss of his wife and is thrust […]
According to a decade of data collected by iStock, Australian brands turned to imagery depicting outdated gender stereotypes during the pandemic. Tracking the keyword ‘women’, iStock by Getty Images found that in 2020, ANZ brands and businesses reverted to gender stereotypes. Images of mothers home-schooling were used at almost twice the rate of images of […]
Schwartz Media is congratulating Maddison Connaughton on her three years as editor of The Saturday Paper. Connaughton has decided to finish up her editorship this month. “It’s been an honour to edit the paper,” Connaughton said. “The Saturday Paper is one of the brightest voices in Australian media and I have been happy to see […]
Research from EdBbirdie using Spotify data has identified the most popular songs to study to. After analysing thousands of studying and homework playlists on Spotify, American singer Olivia Rodrigo’s ‘drivers license’ came out as top song to study to. It featured on 48 study playlists, while other top songs included ‘Ophelia’ by The Lumineers, ‘Falling’ […]
Dayna Stewart is the Business Director – Digital Marketing, Media & Creative Services at The Nudge Group. Here, she discusses the challenges that come with building a successful marketing team when working remotely. Before COVID-19 changed the way businesses work, most marketing teams spent their days together in a meeting room collaborating on the next […]
The line-up for the 2021 iHeartRadio Music Festival has been announced as the legendary event returns live in Las Vegas in September. This year, the epic two-day lineup for the iHeartRadio Music Festival main stage will feature performances by Billie Eilish, Cheap Trick, Coldplay, Dua Lipa, Florida Georgia Line, Journey, Khalid, Lil Baby, Maroon 5, Nelly, […]
Shop! ANZ is calling on shopper and retail marketing professionals from all retail related disciplines to participate in the first ANZ Shopper and Retail Marketing Industry Survey in four years. This important research provides a guide of where the retail marketing industry in Australia and New Zealand has come from and what is anticipated to […]