Mark Read (pictured), head of digital and director of strategy at WPP, told this week’s ad:tech conference in Singapore that he did not believe the Chinese agency market had run out of things to buy.
Speaking to Media, Read said that the holding group was looking at alternatives to digital creative agencies such as Agenda, which it purchased earlier this year. Specifically, it is looking to boost capacity in the mobile and gaming sectors, both of which are expanding rapidly in China. India and China are the group’s key targets in Asia-Pacific.
He added that gaining experience in mobile would help WPP draw lessons for other markets. Mobile will take off in Asia before other regions. It already has done in Japan and Korea.
WPP’s acquisition of Agenda led to claims the Chinese agency market had run out of suitable acquisition targets. The biggest remaining independent agency in China, Shanghai-based Energy Source, is thought to be too expensive for the holding groups, and recently set up a joint venture with Saatchi & Saatchi.
WPP also plans to increase its use of its digital agencies in low-cost Asian markets for outsourcing work from other parts of the world. It is planning to set up a team in the US to help co-ordinate the allocation of digital projects.
WPP eyes mobile and gaming in China
SINGAPORE - WPP is shifting the focus of its digital acquisition strategy in China onto mobile and gaming, according to the agency holding group's online chief.
