WPP invests in next generation digital contents studio

Global communications services group, WPP, has announced a planned investment in digital content producer Indigenous Media.WPP, founded by Martin Sorrell, took a minority stake in the company along with ITV, a UK commercial broadcaster.Indigenous Media, founded by acclaimed film makers Jon Avnet, Rodrigo Garcia and Jake Avnet, produces high-quality scripted content and develops channel brands for content distribution.The Indigenous team was responsible for the YouTube channel WIGS and has now decided to move towards half-hour and hour long formats. WPP and ITV will contribute advertising and distribution expertise, allowing Indigenous Media to focus on content creation.The investment continues WPP's strategy of investing in fast-growing, strategic sectors such as digital video. The relationship forged with Indigenous Media will enable WPP's companies to help their clients market their brands to audiences that prefer to engage across multiple screens and devices.WPP's digital revenues will be worth approximately 35% of the Group's total revenues of $17.3bn in 2013. The firm has set a target of 40-45% of revenue to come from digital sources in the next five years.