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.
WPP invests $5m in US podcasting specialist Gimlet
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.