media trough M&M Global.“
WPP looks to tap into Vice’s Millennial ‘genius’ with multimillion dollar global ad deal19.09.2016
WPP and Vice have announced a new global ad agreement worth “hundreds of millions of dollars”, with a plan to share data and insights into Vice’s youthful audience.
WPP owns around 8.4% of Vice, down from the 10% stake it first purchased in 2011.
Speaking to CNBC’s ‘Marketing Media Money’ show at last week’s Dmexco event in Cologne, Germany, WPP chief executive Sir Martin Sorrell and Vice founder Shane Smith agreed that young consumers are “underserved” with relevant content.
“Shane’s genius is that he understood that Millennials and Centennials are interested in news. The BBC or The New York Times or The Guardian or whoever might have believed they are not, but they are. It’s a question of how it is presented,” said Sorrell.
“And what is really interesting about Vice is that it has changed the way that established news channels and media outlets actually promote the news, develop the news, develop the content. He has changed the face and the consumption of news, pretty much around the globe,” he added.
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