In 2006, Sir Sorrell - Chairman of WPP - said that his company’s online unit would double in terms of revenue contribution, from 15% to 30%.
In a report conducted by Accenture, ”media and entertainment executives see the growing ability and eagerness of individuals to create their own content as one of the biggest threats to their business,” so it’s not surprising that Sorrell’s WPP today came out and announced that WPP was investing in Video Egg, one of the major video platforms powering social networks, who feed off user generated content.
That’s what we call a hedge.
Check out our interview with Video Egg’s CEO Matt Sanchez here.
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