WPP PLC WPP invests in SubVRsive in the US (9877V)
February 03 2017 - 5:45AM
UK Regulatory
TIDMWPP
RNS Number : 9877V
WPP PLC
03 February 2017
FOR IMMEDIATE RELEASE 3 FEBRUARY 2017
WPP PLC ("WPP")
WPP invests in virtual reality company SubVRsive in the US
WPP announces that it has made an investment in SubVRsive, Inc.
("SubVRsive"), a technology company that works with advertisers
that want to engage consumers in the emerging virtual reality and
augmented reality sector.
SubVRsive's clients include the American Heart Association,
Lionsgate Entertainment, Procter & Gamble and Showtime
Networks. It is based in Austin, Texas and was founded in 2015.
SubVRsive works with directors, producers, content creators and
developers to develop video, apps and interactive experiences for
virtual reality devices and computers. Separately, in November WPP
invested alongside IMAX and others to create US$50 million fund
focused on developing virtual reality media projects.
The investment continues WPP's strategy of focusing on three key
areas that differentiate the Group's offering to clients:
technology, data and content. WPP's digital assets include
companies such as Acceleration (marketing technology consultancy),
Cognifide (content management technology), Conexance (data
cooperative), Salmon (e-commerce), and Hogarth (digital production
technology). WPP also has investments in a number of innovative
technology services companies such as Globant, Mutual Mobile and
Polestar (a specialist Alibaba ecommerce company in China), as well
as ad technology companies such as AppNexus, comScore (data
investment management), Domo, mySupermarket, Percolate and
ScrollMotion.
The Group has invested in digital content companies like Russell
Simmons' All Def Digital, Fullscreen, Indigenous Media, Imagina (a
content rights and media company based in Spain), MRC, Refinery29,
VICE and Woven Digital. WPP's roster of wholly owned digital
agencies include AKQA, Blue State Digital, F.biz, Mirum, OgilvyOne,
POSSIBLE, Rockfish, VML and Wunderman. In 2015, the Group acquired
a majority stake in Essence, the global digital agency and the
largest independent buyer of digital media. In October WPP's
wholly-owned operating company Xaxis acquired Triad Retail Media, a
leading digital retail media specialist.
WPP's digital revenues were over US$7 billion in 2015,
representing 37% of the Group's total revenues of US$19 billion.
WPP has set a target of 40-45% of revenue to be derived from
digital in the next five years. In North America, WPP companies
(including associates) collectively generate revenues of over US$7
billion and employ over 28,000 people.
Contact:
Feona McEwan, WPP +44(0) 20 7408 2204
Kevin McCormack, WPP +1 (212) 632 2239
This information is provided by RNS
The company news service from the London Stock Exchange
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February 03, 2017 06:45 ET (11:45 GMT)
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