Procter & Gamble

Amazon is courting advertisers with video ads, external links

After years of speculation and predictions about Amazon’s ability to become a digital advertising powerhouse, it’s happening.

The online retail giant now has annual ad sales exceeding $2bn, and advertising is its fastest-growing segment. With over half of consumers starting their product searches on Amazon, there’s every reason to believe that Amazon’s ad revenue will continue to grow.

Is WPP the canary in the coal mine for the global ad business?

On Wednesday, the world’s largest ad agency holding company, WPP, spooked investors by warning about a slowdown that it projects will result in dismal sales growth of 1% or less.

Shares of the firm plummeted the most in a single day since 2000 and are now down by more than 20% this year.

P&G sheds 1,600 jobs as it cuts ad spend

Procter & Gamble (P&G) is to lay off 1,600 staff as part of a cost cutting exercise that will also include a re-evaluation of the company’s $10bn ad budget.

It comes as P&G chairman Robert McDonald revealed to analysts that the company had somewhat belatedly recognised the cost efficiency of digital marketing.