Photo: World Economic Forum
WPP CEO Martin Sorrell has done an about-face on social media, a platform he once suggested wasn’t terrifically useful for advertisers: His agencies (Ogilvy and JWT among them) will spend as much as $400 million on Facebook this year, according to MediaPost, double what they spent last year.Back in 2010, he suggested that social media was “not a medium that really lends itself to commercial exploitation” because people used it for personal communication, not as consumers.
Times change, of course, and Facebook has famously gotten its act together on the advertising front. Still, it’s a far cry from the tune Sorrell was singing two years ago, when he said of social media:
“When you look at the times that people have tried to commercially exploit it, it’s not always failed but often failed.”
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