Sir Martin Sorrell has said the advertising industry must change to survive. Read more: S4 Capital boss Sir Martin Sorrell faces investor revolt In its only sign of retaliation to date, WPP last year threatened to cut Sorrell’s bonus, but relented this year and paid out an initial instalment of £2m to the former chief executive. Speaking at the Cannes Lions festival Sorrell said companies need to accept the revolution in the industry and adapt to increased competition and the new focus on digital, data-driven marketing. Taking another pop at WPP, his former company, he said S4 Capital was able to adapt rapidly as it had started from scratch but that other firms were still struggling with a “very old way of doing business”.
Sir Martin Sorrell has said the advertising industry must change to survive. Speaking at the Cannes Lions festival Sorrell said companies need to accept the revolution in the industry and adapt to increased competition and the new focus on digital, data-driven marketing. Taking another pop at WPP, his former company, he said S4 Capital was able to adapt rapidly as it had started from scratch but that other firms were still struggling with a “very old way of doing business”.