Sorrell: Facebook is not necessarily an advertising medium

WPP boss Sir Martin Sorrell is unconvinced that Facebook is a good advertising medium for clients.

Speaking at the Cannes International Festival of Creativity, Sorrell said: “I believe Facebook is the best or one of the best branding mechanisms in the world but I don’t think it is necessarily an advertising medium.”

WPP spends around $65 billion a year on behalf if its advertising clients. The marketing group spent about $200 million last year on Facebook, accounting for about 5% of the social network’s estimated total revenues of about $3.7 billion.

Sorrell confirmed that this year WPP will increase its Facebook spend to $400 million. The business will also increase its spend on Google from $1.6 billion to $2 billion (it will spend 10 times more with Google than Facebook in 2012).

Read the full Guardian article here.