WPP's Mark Read views Omnicom-IPG deal as chance to 'Stand Out'

WPP CEO Mark Read has described Omnicom Group's acquisition of Interpublic Group of Companies as a chance for the London-based agency holding company to “stand out” in the industry, according to an internal memo to employees, as reported by AdAge.

Read wrote in the memo, “Clients will not have missed the fact that, in the last week or two, several of our competitors have spent a lot of time talking about themselves, this is a moment of opportunity for WPP to stand out through an unwavering focus on our clients and their interests, not our own.”

The AdAge report highlights that Industry experts believe the acquisition could place significant pressure on WPP, as it loses its long-held position as the world's largest agency holding company.

In 2023, Omnicom and Interpublic Group of Companies generated a combined revenue of $25.6 billion, surpassing WPP's $18.89 billion and dethroning the incumbent. The merged entity will retain the Omnicom name and bring together over 100,000 ad folk and agency brands such as McCann, FCB, MullenLowe Lintas, DDB, and BBDO under one roof. 

However, Read said in the memo that Omnicom buying IPG is “good news” for WPP. “Over the next two years, as [Omnicom and IPG] focus on finding annual savings of $750 million and doing the hard work we have already done within our company—simplification, integration, consolidation—we will be doubling down on our strategy: doing outstanding work for our clients, championing creativity, investing in the future through AI, data and technology, and building great careers for our people,” Read wrote in the memo.

He further mentioned that, “While our peers are distracted and turning inward, we are getting on with the job of delivering exceptional results and value for the world’s leading brands, and that’s how we will win in 2025.”

WPP's memo follows Publicis Groupe CEO Arthur Sadoun’s internal message to employees, in which he described the Omnicom-IPG deal as a "positive" development for the industry.