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WPP withdraws 2020 guidance as key ad markets slow over coronavirus

The move by WPP has implications for the Indian market, since the latter is the fifth largest for the global advertising giant.

2018 advertising expenditure growth at 12%, says Pitch Madison report

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Media agencies are expecting advertising growth in India to be flat for the current calendar year versus 10 per cent growth forecast prior to the Covid-19 outbreak.

Viveat Susan Pinto Mumbai

3 min read Last Updated : Mar 31 2020 | 11:16 PM IST

WPP, the world’s largest advertising company, on Tuesday said it was withdrawing its 2020 guidance amid the coronovirus pandemic, joining rivals such as Publicis and Interpublic Group, who’ve done the same. The firm follows a January-December accounting year.

The move by WPP has implications for the Indian market, since the latter is the fifth largest for the global advertising giant. In 2019, WPP’s Indian unit had surpassed Brazil in terms of top line rate of growth, touching 10 per cent versus the latter’s 9 per cent. “As we enter the second quarter, it is clear that the impact of Covid-19

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