Media was the biggest drag on revenue during WPP's first
quarter, the "unholding" company disclosed in its earnings release this morning.
WPP Media, which accounts for the greatest share of company revenue (41%, see chart below), saw its revenue
decline 8.5% in the first quarter -- nearly two points greater than WPP's overall decline and markedly greater than its other reported divisions, including creative services, public relations and
specialist agencies.
While WPP did not disclose the explicit performance of a newer category of services -- "enterprise solutions," which now accounts for 13% of total revenue -- it was cited
as a potential area of higher revenue growth.
The earnings report called out a recent enterprise solutions deal with Adobe as an example, but did not explicitly disclose the nature of the
services or the revenue model.
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