It would be too early to talk about a turnaround in businesses till 2010, said Sir Martin Sorrell, the celebrated chief executive of advertising giant WPP Group. Sir Martin is currently visiting India. He is expecting flat revenue growth from India this year due to a sluggish macroeconomic environment, Financial Chronicle reports.
As the head of WPP, the world’s largest ad firm by revenues, Sir Martin has a unique vantage point on the global advertising and marketing industry and his comments and forecasts are in turn closely followed by the industry.
Describing the difficulties faced by media owners due to the current economic downturn as “a perfect storm”, Sir Martin urged companies to experiment with digital media or risk falling behind the curve.
On traditional media (via TOI):