The Digiday Podcast

Episode Title: Can a new CEO and massive AI bet turn WPP's sinking ship around?
Date: December 2, 2025
Host: Kamiko McCoy (Digiday Senior Marketing Reporter)
Guest: Sam Bradley (Digiday Senior Marketing Reporter)

Episode Overview

This episode dives deep into the agency world’s shifting dynamics in 2025, focusing on WPP’s tumultuous year, its leadership change, and massive bet on AI. With seismic industry changes—including Omnicom’s $13B acquisition of IPG and ongoing legal wrangling between publishers and AI giants—hosts Kamiko McCoy and Sam Bradley unpack what it all means for legacy holding companies and the future of the marketing business.

Key Discussion Points & Insights

1. The Collapse of the "Big Four" and Omnicom's Takeover of IPG

[00:44–10:47]

Omnicom’s IPG Acquisition:
- Omnicom has acquired IPG in an all-stock deal worth over $13 billion, cleared by both US and EU regulators, making Omnicom the world’s largest ad holding group.
- The move triggered consolidation: 4,000 job cuts, retirement of FCB, DDB, and Mullen Lowe brands, leaving BBDO, TBWA, and McCann as the big three creative networks within Omnicom.
- “[This] was always a takeover… It’s an all-stock deal, so there’s no cash being exchanged. But that doesn’t change the fact that it is an acquisition.” – Sam Bradley [03:47]
- Media brands at Omnicom and IPG remain mostly untouched so far.
Industry Structure Shifts:
- With Dentsu’s uncertain future and WPP’s commercial struggles, the old "Big Four" is gone.
- Emergence of an “operating company model” over the historic holding company model—think highly centralized, specialized tools, not decentralized, semi-competing shops: “It feels like the dawn of a new era within advertising on the agency side.” – Sam Bradley [07:45]
Client Concerns Over Consolidation:
- Some clients might like one-stop shops, others worry about getting lost as small fish in a giant pond.
- Possible wave of media reviews anticipated for 2026 as clients reassess agency relationships.
- “If you’re not one of the mega-clients… you may begin to feel a bit neglected… competitors will be thinking of ways to outflank them.” – Sam Bradley [08:46]

2. The Legal and Strategic Tensions Around AI & Copyright

[11:27–15:41]

OpenAI Lawsuit Developments:
- US courts order OpenAI to disclose why it deleted databases of allegedly pirated books, tipping the scales slightly toward authors’ lawsuits.
- This is not a final ruling but tightens scrutiny on how AI companies exploit copyrighted content.
Broader Industry Implications:
- Despite a flurry of lawsuits, courts have generally sided with AI companies, but marketers remain wary of legal risks.
- “Most worry about [IP risk] is gone… most agency partners offer indemnification… helped smooth the path.” – Sam Bradley [14:36]
- Publishers are closely watching—negotiations and deals between publishers and AI firms could reshape the use of IP in training LLMs.

3. WPP's 2025 in Review: Tumult and Transformation

[16:32–44:45]

Timeline of WPP’s Major Events

[17:39–23:16]

Negative Milestones:
- Lost title as top agency holding group by revenue to Publicis.
- Major account losses: Coca-Cola North America, Mars, Paramount, Bayer.
- Q3 saw another profit warning; share price plummeted over 60% in 2025.
- Reported risk of dropping from the UK’s FTSE 100—“Their market cap is behind that of OnlyFans at the moment… So there you go, we still make things in Britain.” – Sam Bradley [17:39]
- Lawsuit over agency kickbacks; rumors of a Havas stake (later denied).
Organizational Moves:
- Mark Read stepped down as CEO; Cindy Rose appointed, starts September.
- GroupM (media arm) rebranded to WPP Media—itself down 5.7% in revenue [18:37].
- Launches “WPP Open” AI marketing platform, followed by “WPP Open Pro” aimed at SMBs with a self-serve, AI-driven approach.
Bright Spots:
- Some meaningful wins: retained MasterCard global media, Electronic Arts, Pizza Hut US Creative.
- “The eulogies for WPP keep getting drafted but the company refuses to play along.” – (ref. Sam Bradley’s coverage, cited by Kamiko McCoy [17:07])

Most Impactful Developments at WPP

Consolidation & Reorganization:
- Restructuring of agency brands (VML, Ogilvy, AKQA, now WPP Media) marks the end of its vast “empire-of-agencies” era.
- “[Consolidation] may seem inside baseball… but it was kind of necessary. WPP had an absolute empire of agency properties… almost unmanageable.” – Sam Bradley [23:16]
- Reorg modeled after Publicis, who overtook WPP after their own painful consolidation years earlier.
Massive Bet on AI:
- With “WPP Open” and “Open Pro,” WPP pivots toward building proprietary AI tools for clients, emphasizing self-serve for SMBs—akin to how Meta, Google, and Amazon built out the “long tail.”
- “I think their AI platform is on par with consolidation [as their biggest move]. If AI is the industry’s supposed savior, it looks like they’re trying to get in there early.” – Kamiko McCoy [27:33]

New CEO, New Direction – But Room for Skepticism

[28:29–32:19]

Cindy Rose at the Helm:
- Former board member, steeped in enterprise sales.
- Seen as the right type of leader for an agency transforming into a tech-oriented, enterprise services business.
- But remains to be seen if a new CEO can shift fortunes in such a vast organization.
- “It’s rare a CEO would say ‘our performance is unacceptable,’ especially a new one hoping for a bit of a bounce… It’s too early to tell.” – Sam Bradley [30:28]
- Move to centralized, enterprise-focused operation reminiscent of the industry-wide shift from holding-company to operating-company models.

Will WPP’s AI & Open Bet Pay Off?

[33:03–39:24]

Optimistic Angle:
- New wins (Johnson & Johnson, Reckitt, Henkel) show WPP can still attract big business.
- Automation and self-serve platforms (Open/Open Pro) could reduce costs—but AI usage, especially LLMs, is expensive.
- “Their value will be helping us make sense of how WPP and other holding companies reassert theirs in 2026.” – [44:45]
Skeptical Reality:
- Layoffs seem inevitable with AI self-service push, lowering costs but at what long-term impact?
  - “WPP Open will probably lead to layoffs, which will lower costs and that’s going to help ROI.” – Host [33:23]
- Huge investment: £300M ($375M) committed to AI, much smaller than what tech giants are spending—but access deals (like preferred partnership on Google’s Gemini 3) could offset some token/acquisition costs.
- “Google gets to play with God’s credit card… I think that question about AI spending is actually shared between Omnicom, Publicis, and WPP.” – Sam Bradley [38:05]
Structural Challenge:
- Agencies now must compete not just with each other, but with tech giants who have deeper pockets for AI/data investment.
- Future may hinge on how token/usage costs for LLMs get negotiated in massive media/ad deals—a “we’ll see” for 2026.

The Industry’s Existential Quandary

[40:43–44:26]

The big question remains: As brands take some adtech functions in-house and as AI automates or even commoditizes creative/media tasks, what’s the unique value agencies can offer?
“What’s the like ‘Costco shopping advantage’ for these agencies in this AI era?” – Host [41:44]
Everyone—agencies, clients, tech partners—will have to reassert their value in 2026.
“No eulogy yet… eulogies have been kind of premature. The story’s not done yet.” – Sam Bradley [44:15]

Notable Quotes & Memorable Moments

On Omnicom’s IPG Takeover:
- “Consolidation moves… expected within the creative business. Those job cuts don’t make for particularly welcome reading, do they?” – Sam Bradley [03:47]
On the New Operating Company Model:
- “Think less of a portfolio of diverse businesses… think instead of a [company] being directed from the center, with specialized tools for specific situations.” – Sam Bradley [06:34]
On WPP’s Year:
- “The eulogies for WPP keep getting drafted, but the company refuses to play along.” – Cited by Kamiko McCoy [17:07]
- “Their market cap is behind that of OnlyFans at the moment… We still make things in Britain.” – Sam Bradley [17:39]
- “Stock price is down roughly 61% on the year. That feels like ‘ominous’ is the best way to quantify the year.” – Host [18:37]
On Consolidation’s Necessity:
- “WPP had an absolute empire of agency properties… almost unmanageable. These painful moves were necessary.” – Sam Bradley [23:16]
On the AI Bet:
- “If AI is the industry’s supposed savior, it looks like [WPP] are trying to get in there early.” – Kamiko McCoy [27:33]
- “WPP’s committed to spend 300 million pounds on AI investment… One reason their share price is a concern is the less liquidity they have to spend…” – Sam Bradley [35:30]
- “Google gets to play with God’s credit card, doesn’t it?” – Sam Bradley [38:05]
On the Existential Threat:
- “All of these agency holdings are dealing with similar changes… The idea of clients taking more things in house; what’s the value in an agency now?” – Host [40:43]
On WPP’s Ongoing Story:
- “No eulogy yet… eulogies have been kind of premature… the rise and fall story’s not done yet.” – Sam Bradley [44:15]

Timestamps for Important Segments

00:44: Start of agency landscape discussion: Omnicom/IPG acquisition
03:47: Sam Bradley explains the reality of the acquisition (“It was always a takeover.”)
07:45: Agency structure debate – the dawn of the operating company model
08:46: What the Omnicom/IPG consolidation means for clients and competitors
11:27: Legal headlines – OpenAI, copyright, publisher leverage
14:36: Sam Bradley on AI IP risk and marketer/agency liability
17:07: WPP’s tumultuous 2025: major losses, CEO change, and bold AI bets
23:16: The significance of WPP Media’s reorganization
27:33: The AI platform and Open Pro: WPP’s bet on tech as a turnaround strategy
30:28: The CEO’s importance and WPP shifting to an enterprise, tech-first agency
33:03: Will consolidation and AI pay off? (Layoffs, ROI, big bets)
35:30: AI investment vs. tech giant competitors – “God’s credit card” moment
41:44: The existential question: What’s the agency value prop in an AI/automation era?
44:15: Sam Bradley: “No eulogy yet” for WPP’s future

Conclusion

2025 was a bruising, transformative year for WPP, marked by major account losses, a new CEO, deep restructuring, and a high-stakes bet on proprietary AI tools. As the industry shifts from decentralized holding companies to more centralized “operating companies,” and as AI reshapes agency economics, WPP faces both existential threats and new opportunities. The company’s next chapter hinges on the outcome of its strategic review (due in 2026), the success of its “Open” AI platform, and its ability to regain client confidence—all while navigating intense competition from both agency peers and cash-rich tech giants.

No eulogy yet for WPP, but 2026 will be a make-or-break year.

The Digiday Podcast

Episode Overview

Key Discussion Points & Insights

1. The Collapse of the "Big Four" and Omnicom's Takeover of IPG

[00:44–10:47]

Omnicom’s IPG Acquisition:
- Omnicom has acquired IPG in an all-stock deal worth over $13 billion, cleared by both US and EU regulators, making Omnicom the world’s largest ad holding group.
- The move triggered consolidation: 4,000 job cuts, retirement of FCB, DDB, and Mullen Lowe brands, leaving BBDO, TBWA, and McCann as the big three creative networks within Omnicom.
- “[This] was always a takeover… It’s an all-stock deal, so there’s no cash being exchanged. But that doesn’t change the fact that it is an acquisition.” – Sam Bradley [03:47]
- Media brands at Omnicom and IPG remain mostly untouched so far.
Industry Structure Shifts:
- With Dentsu’s uncertain future and WPP’s commercial struggles, the old "Big Four" is gone.
- Emergence of an “operating company model” over the historic holding company model—think highly centralized, specialized tools, not decentralized, semi-competing shops: “It feels like the dawn of a new era within advertising on the agency side.” – Sam Bradley [07:45]
Client Concerns Over Consolidation:
- Some clients might like one-stop shops, others worry about getting lost as small fish in a giant pond.
- Possible wave of media reviews anticipated for 2026 as clients reassess agency relationships.
- “If you’re not one of the mega-clients… you may begin to feel a bit neglected… competitors will be thinking of ways to outflank them.” – Sam Bradley [08:46]

2. The Legal and Strategic Tensions Around AI & Copyright

[11:27–15:41]

OpenAI Lawsuit Developments:
- US courts order OpenAI to disclose why it deleted databases of allegedly pirated books, tipping the scales slightly toward authors’ lawsuits.
- This is not a final ruling but tightens scrutiny on how AI companies exploit copyrighted content.
Broader Industry Implications:
- Despite a flurry of lawsuits, courts have generally sided with AI companies, but marketers remain wary of legal risks.
- “Most worry about [IP risk] is gone… most agency partners offer indemnification… helped smooth the path.” – Sam Bradley [14:36]
- Publishers are closely watching—negotiations and deals between publishers and AI firms could reshape the use of IP in training LLMs.

3. WPP's 2025 in Review: Tumult and Transformation

[16:32–44:45]

Timeline of WPP’s Major Events

[17:39–23:16]

Negative Milestones:
- Lost title as top agency holding group by revenue to Publicis.
- Major account losses: Coca-Cola North America, Mars, Paramount, Bayer.
- Q3 saw another profit warning; share price plummeted over 60% in 2025.
- Reported risk of dropping from the UK’s FTSE 100—“Their market cap is behind that of OnlyFans at the moment… So there you go, we still make things in Britain.” – Sam Bradley [17:39]
- Lawsuit over agency kickbacks; rumors of a Havas stake (later denied).
Organizational Moves:
- Mark Read stepped down as CEO; Cindy Rose appointed, starts September.
- GroupM (media arm) rebranded to WPP Media—itself down 5.7% in revenue [18:37].
- Launches “WPP Open” AI marketing platform, followed by “WPP Open Pro” aimed at SMBs with a self-serve, AI-driven approach.
Bright Spots:
- Some meaningful wins: retained MasterCard global media, Electronic Arts, Pizza Hut US Creative.
- “The eulogies for WPP keep getting drafted but the company refuses to play along.” – (ref. Sam Bradley’s coverage, cited by Kamiko McCoy [17:07])

Most Impactful Developments at WPP

Consolidation & Reorganization:
- Restructuring of agency brands (VML, Ogilvy, AKQA, now WPP Media) marks the end of its vast “empire-of-agencies” era.
- “[Consolidation] may seem inside baseball… but it was kind of necessary. WPP had an absolute empire of agency properties… almost unmanageable.” – Sam Bradley [23:16]
- Reorg modeled after Publicis, who overtook WPP after their own painful consolidation years earlier.
Massive Bet on AI:
- With “WPP Open” and “Open Pro,” WPP pivots toward building proprietary AI tools for clients, emphasizing self-serve for SMBs—akin to how Meta, Google, and Amazon built out the “long tail.”
- “I think their AI platform is on par with consolidation [as their biggest move]. If AI is the industry’s supposed savior, it looks like they’re trying to get in there early.” – Kamiko McCoy [27:33]

New CEO, New Direction – But Room for Skepticism

[28:29–32:19]

Cindy Rose at the Helm:
- Former board member, steeped in enterprise sales.
- Seen as the right type of leader for an agency transforming into a tech-oriented, enterprise services business.
- But remains to be seen if a new CEO can shift fortunes in such a vast organization.
- “It’s rare a CEO would say ‘our performance is unacceptable,’ especially a new one hoping for a bit of a bounce… It’s too early to tell.” – Sam Bradley [30:28]
- Move to centralized, enterprise-focused operation reminiscent of the industry-wide shift from holding-company to operating-company models.

Will WPP’s AI & Open Bet Pay Off?

[33:03–39:24]

Optimistic Angle:
- New wins (Johnson & Johnson, Reckitt, Henkel) show WPP can still attract big business.
- Automation and self-serve platforms (Open/Open Pro) could reduce costs—but AI usage, especially LLMs, is expensive.
- “Their value will be helping us make sense of how WPP and other holding companies reassert theirs in 2026.” – [44:45]
Skeptical Reality:
- Layoffs seem inevitable with AI self-service push, lowering costs but at what long-term impact?
  - “WPP Open will probably lead to layoffs, which will lower costs and that’s going to help ROI.” – Host [33:23]
- Huge investment: £300M ($375M) committed to AI, much smaller than what tech giants are spending—but access deals (like preferred partnership on Google’s Gemini 3) could offset some token/acquisition costs.
- “Google gets to play with God’s credit card… I think that question about AI spending is actually shared between Omnicom, Publicis, and WPP.” – Sam Bradley [38:05]
Structural Challenge:
- Agencies now must compete not just with each other, but with tech giants who have deeper pockets for AI/data investment.
- Future may hinge on how token/usage costs for LLMs get negotiated in massive media/ad deals—a “we’ll see” for 2026.

The Industry’s Existential Quandary

[40:43–44:26]

The big question remains: As brands take some adtech functions in-house and as AI automates or even commoditizes creative/media tasks, what’s the unique value agencies can offer?
“What’s the like ‘Costco shopping advantage’ for these agencies in this AI era?” – Host [41:44]
Everyone—agencies, clients, tech partners—will have to reassert their value in 2026.
“No eulogy yet… eulogies have been kind of premature. The story’s not done yet.” – Sam Bradley [44:15]

Notable Quotes & Memorable Moments

On Omnicom’s IPG Takeover:
- “Consolidation moves… expected within the creative business. Those job cuts don’t make for particularly welcome reading, do they?” – Sam Bradley [03:47]
On the New Operating Company Model:
- “Think less of a portfolio of diverse businesses… think instead of a [company] being directed from the center, with specialized tools for specific situations.” – Sam Bradley [06:34]
On WPP’s Year:
- “The eulogies for WPP keep getting drafted, but the company refuses to play along.” – Cited by Kamiko McCoy [17:07]
- “Their market cap is behind that of OnlyFans at the moment… We still make things in Britain.” – Sam Bradley [17:39]
- “Stock price is down roughly 61% on the year. That feels like ‘ominous’ is the best way to quantify the year.” – Host [18:37]
On Consolidation’s Necessity:
- “WPP had an absolute empire of agency properties… almost unmanageable. These painful moves were necessary.” – Sam Bradley [23:16]
On the AI Bet:
- “If AI is the industry’s supposed savior, it looks like [WPP] are trying to get in there early.” – Kamiko McCoy [27:33]
- “WPP’s committed to spend 300 million pounds on AI investment… One reason their share price is a concern is the less liquidity they have to spend…” – Sam Bradley [35:30]
- “Google gets to play with God’s credit card, doesn’t it?” – Sam Bradley [38:05]
On the Existential Threat:
- “All of these agency holdings are dealing with similar changes… The idea of clients taking more things in house; what’s the value in an agency now?” – Host [40:43]
On WPP’s Ongoing Story:
- “No eulogy yet… eulogies have been kind of premature… the rise and fall story’s not done yet.” – Sam Bradley [44:15]

Timestamps for Important Segments

00:44: Start of agency landscape discussion: Omnicom/IPG acquisition
03:47: Sam Bradley explains the reality of the acquisition (“It was always a takeover.”)
07:45: Agency structure debate – the dawn of the operating company model
08:46: What the Omnicom/IPG consolidation means for clients and competitors
11:27: Legal headlines – OpenAI, copyright, publisher leverage
14:36: Sam Bradley on AI IP risk and marketer/agency liability
17:07: WPP’s tumultuous 2025: major losses, CEO change, and bold AI bets
23:16: The significance of WPP Media’s reorganization
27:33: The AI platform and Open Pro: WPP’s bet on tech as a turnaround strategy
30:28: The CEO’s importance and WPP shifting to an enterprise, tech-first agency
33:03: Will consolidation and AI pay off? (Layoffs, ROI, big bets)
35:30: AI investment vs. tech giant competitors – “God’s credit card” moment
41:44: The existential question: What’s the agency value prop in an AI/automation era?
44:15: Sam Bradley: “No eulogy yet” for WPP’s future

Conclusion

No eulogy yet for WPP, but 2026 will be a make-or-break year.

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Summary

The Digiday Podcast

Episode Overview

Key Discussion Points & Insights

1. The Collapse of the "Big Four" and Omnicom's Takeover of IPG

2. The Legal and Strategic Tensions Around AI & Copyright

3. WPP's 2025 in Review: Tumult and Transformation

Timeline of WPP’s Major Events

Most Impactful Developments at WPP

New CEO, New Direction – But Room for Skepticism

Will WPP’s AI & Open Bet Pay Off?

The Industry’s Existential Quandary

Notable Quotes & Memorable Moments

Timestamps for Important Segments

Conclusion

Summary

The Digiday Podcast

Episode Overview

Key Discussion Points & Insights

1. The Collapse of the "Big Four" and Omnicom's Takeover of IPG

2. The Legal and Strategic Tensions Around AI & Copyright

3. WPP's 2025 in Review: Tumult and Transformation

Timeline of WPP’s Major Events

Most Impactful Developments at WPP

New CEO, New Direction – But Room for Skepticism

Will WPP’s AI & Open Bet Pay Off?

The Industry’s Existential Quandary

Notable Quotes & Memorable Moments

Timestamps for Important Segments

Conclusion