WPP invests $5m in US podcasting specialist Gimlet

WPP invests $5m in US podcasting specialist Gimlet

WPP has opened its wallet to the tune of $5m to acquire a minority stake in US podcasting specialist Gimlet, a provider of advertising and branded content for the likes of Ford, PepsiCo and Microsoft.

The New York-based business has an employee roll of 85, producing commercial podcasts which are now downloaded over 12m times per month across 190 different nations from a predominantly millenial audience.

Recent successes include the likes of Define the Relationship for the Tinder/Match group; Open for Business on behalf of eBay and Virgin Atlantic’s The Venture.

WPP’s interest was piqued by a desire to meet its key strategic objectives of technology, data and content; guiding principles which have already seen it invest in a diverse range of firms including VICE, Uproxx Media Group and Indigenous Media.

This strategy saw digital revenues reach in excess of $7.5bn in 2016, accounting for 39% of total group revenues – still somewhat short of a publicly stated goal of hitting a 45% share by 2022.

WPP's most recent acquisition was Danish digital agency DIS/PLAY.

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John Glenday

John Glenday is responsible for compiling The Drum's daily morning bulletin and ensuring that overnight breaking news is covered while you're still brushing your teeth. Can also make a mean cup of tea.

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