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I suppose there could also be an element of natural attrition and letting people go where jobs have been duplicated during the growth by acquisition phase. Hopefully the senior management are being more rigorous with hiring now and perhaps not folding into to the shouts of' we are so very busy' and, if not already, asking for a full business justification (tasks broken down by % of time allocated in a month) and ROI for the additional head.
Ad agency WPP PLC (LSE:WPP) has a capital markets day on 30 January followed by full-year results on 22 February and broker UBS is not expecting good news at either event.
Indeed, the broker has slapped a double downgrade to 'sell' on the ad agency and slashed its target price to 700p from 1,200p.
The Swiss bank estimates the market is pricing in a return to 2% organic growth (UBSe -1% in 2024, and 1% thereafter) and a recovery in underlying profit [EBIT] margins to c15% (UBSe 15.3%).
UBS reckons the market is being too optimistic, with it expecting sales to decline by 1% in 2024 and worried by WPP’s high exposure to the TMT sector.
On cash flow, WPP will also undershoot targets, UBS predicts, and combined with the revenue concerns makes it the least preferred of the agency holding companies
Yes. Fingers crossed its finaĺy hit the bottom and some positive news to come soon, I would be a little more confident once all the shorters have gone though . One other thing to note is (I think, correct me if I have it wrong) brokers still have SFOR as a 'buy'.
Of course if something like a restructure or other material change would have to be on the back of an RNS. Thats the method of communication. He would have his bits chewed off otherwise. I'm not that wet behind the ears. And not every single thing does need an RNS they consider MonksFlow a gamechanger but that was released at a CES presentation.
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I see SMS has the enviable 1pm - 45pm lunch time slot. I bet others will be kicking themselves with envy as they tuck into foi grass, chatauebriand and guzzling Petrus 1982 at that time. Unless SMS made a huge mistake and he not been invited as speaker but lunchtime Cabaret singer. I guess he will soon find out when he steps on to stage to find Wesley sat at a piano staring at a music sheet titled 'Greatest Hits of Michael Buble'
I was hoping he would use Davos as an opportunity to make an SP changing announcement , doesn't look like that will happen. He's probably enjoying meeting up with his besties at the evening parties.
He's not going to give a date or indication via email. He will follow protocol.
' I don’t believe he was in a good place.' Is probably a good example of why he doesn't respond to random emails. There is no voice inflection in the normal written word unless it is intentionally emphasised.
Do they not normally issue an RNS announcing the date including times of presentations/ phone dial in. (AM - for UK & Europe and PM - for USA)
I think 17th was the date for last years, perhaps someone has made an assumption it will be the same date in 2024.
Poker chips
I fully understand what you say that applies to every event. But when I see that I am down very close to £60k now. I think to myself (frustratingly) SMS has been in this industry since 1975 how much networking does he need to do directly. His business (and my money) is crumbling in front of our very eyes. Perhaps just this year he could give this one miss and send a representative. In my opinion let the banks and governments get on with the world economy this time and concentrate on events such Cannes Lions and CES. Unless of course everything is now under control.
I would love to know what he is expecting to achieve and come away with at Davos. I agree.he should be at his desk getting the.business back into shape. Turning up at conferences to talk about any nonsensical subject just because they have managed to shoehorn the initials AI into the subject heading is sad and desperate.
The whole industry is dire and I would expect it to be down. But for me SFOR have completely trashed this because they failed to meet their own forecasts 3 times in a row. They have proved themselves to be the Kings of Incompetence. How on earth can you miss targets set by youself 3 times in a row and look ike you know what your doing.
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That's just the USA corporate structure model. Everyone is a CEO, SVP etc it doesn't necessarily mean they earn loads of money. It massages ego's, kudos and stimulates hubrism. I know someone who works for a global American PR company and in the London office alone they have at least 8-10 Managing Directors.
Jordan Cuddy
Is EVP, Global Head of Experience at Media.Monks, where she blends her background in strategy, creative and client management to lead the company’s global Experience capability. Prior to that, Jordan led experience design agency Jam3 as Partner and Chief Client Officer for seven years before merging with Media.Monks in 2021. Jordan is a sought-after speaker, and was named to Business Insider’s list of 40 Rising Stars of Madison Avenue who are Revolutionizing Advertising in 2020. In her spare time, Jordan can be found all around Los Angeles parks trying to tire out her toddler twin boys.
Eric Shamlin, SVP of Growth, Media.Monks:
Eric Shamlin leads entertainment growth at Media.Monks, where he heads up innovative partnerships with leading technology and entertainment brands. With a broad background in technology, visual effects and entertainment, Shamlin is pioneering the future of entertainment powered by digital, interactive and immersive technologies. Eric Shamlin is a two-time Emmy winner, 12-time Cannes Lion winner and 19-year member of the Television Academy where he holds seats on the Digital Strategy Committee, Interactive Media Peer Group and co-chairs the Experience Design Work Group.
Lemmin99
I agree with you.
Output & Outcomes is not a new concept for billing it's a good payment method for brand awareness target numbers. As you, I too think this is suitable for AI. I am only guessing but you could probably bill customers at stages of the workflow that similar to Agile Project Managent and software development. Each stage sign off triggers a payment not headcount hours and job bags. Sfor/Media Monks could make this the defacto industry standard for AI Media (Wesley made a point of saying they are more than an Agency) going forward.
Perhaps there is some ground work going on for succession planning too. There was a notable salute/recognition of Wesley's experience in the industry with Media Monks.
Interesting times ahead. I'll be shocked if they don't get any pitch invites or direct work from CES 24