The need of diversification

Author: Jonas Grashey

How to beat the economic downturn, the world is facing? Sir Martin Sorrell, head of WPP, the world's biggest advertising and marketing services conglomerate, gave answers at a Royal Television Society audience last week. Sorrell, speaker at DLD08, pointed out two main strategies with importance for traditional media companies. Firstly: "If you are a one-country, one-media company you are in trouble." The business of media companies shouldn't be limited to the western industrialized countries, but include the emerging markets like India and China. These are the markets where the money will be earned in the next future. Secondly: "Very few of the traditional media companies have been able to do digitally effectively," Sorrell says. Digital progress is the essential requirement for media companies. The bottom line is, according to Sir Martin Sorrell: diversification - both geographically and by business segment. Read more of Sorrell's statements here.

 

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Tags: china· digital· diversification· dld-friends· india· Martin Sorrell· media· media companies· technology