Why Is WPP plc (WPP) Among The Best Advertising Stocks to Buy According to Hedge Funds? [Yahoo! Finance]
WPP plc American Depositary Shares (WPP)
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Source: Yahoo! Finance
Ad spending in 2024 received a significant boost from recurring events such as the US election and the Olympics, and experts believe that these spending patterns are likely to add billions to the market. Media agency Magna increased its US ad spending forecast for the year, expecting revenue growth of 11.4% to $377 billion, per the news shared with Marketing Dive. The company expects non-cyclical ad spending to grow by 8.9%, reflecting a rise from 8.2% in previous forecasts. This marks one of the best performances for the category in 20 years. This revision stemmed from improved macroeconomic conditions, healthy appetites in digital and streaming, and cyclical events, such as the elections and the Summer Olympics. As per PwC, fueling revenue growth by selling E&M products directly to users is challenging. Of the 3 major categories i.e., consumer spending, connectivity, and advertising, consumer spending is the smallest and slowest growing. The connectivity category i.e., fixed and
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WPP
Sec Filings
- 12/20/24 - Form 6-K
- 12/4/24 - Form 6-K
- 12/3/24 - Form 6-K
- WPP's page on the SEC website