WPP Faces Revenue Decline and Investor Concerns Following 2024 Challenges

The advertising giant reports a 1% revenue drop in 2024, with a cautious outlook for 2025 and a focus on AI and GroupM for recovery.

WPP reported a 1% decline in like-for-like net revenue for 2024, falling short of analysts' expectations of a 0.4% dip, with Q4 revenue dropping 2.3%.
Revenue challenges were driven by significant client losses in 2023, weak performance in key markets like China (down 20.8%) and the UK (down 2.7%), and struggles in healthcare and retail sectors.
The company is investing £300m in its AI-powered platform, WPP Open, to improve end-to-end marketing processes and productivity, aiming for broader client adoption in 2025.
GroupM, WPP's media division and largest revenue driver, is central to the recovery strategy, focusing on data connectivity and AI integration under new CEO Brian Lesser.
Despite some major client wins, including Johnson & Johnson and Kimberly-Clark, WPP expects a flat or declining revenue outlook for the first half of 2025, with potential improvement in the second half.