随着技术与市场环境的持续演变，品牌方对于全域全链路整合服务的需求日益凸显，数字营销行业从未 停止创新与拓展的脚步，呈现不断变化的态势。 WPP Media（群邑）依托WPP集团强大的资源与技术，特别是WPP Open这一人工智能驱动的营销系 统，实现了创意、制作、数据、全域电商和个性化媒介投放等能力的无缝对接。通过该平台，WPP Media（群邑）构建起行业领先的全链路服务体系，为品牌提供从策略制定到执行落地的一站式解决方 案，实现营销效果的最大化。 在新零售领域，消费者渴望更优质的体验，陆铭逸认为，当前随着AIGC和AI Agent的加速到来，营销 行业的规则正在被改变。营销人正遭遇一场前所未有的挑战。过去两年的变化比前十年的发展更为深 刻、更为彻底。这种变化速度正呈现加速态势，且在中国表现得尤为明显。 WPP Media（群邑）通过不断探索全域全链路整合服务，利用先进技术超越ID限制，为品牌营销注入新 活力，助力品牌在激烈的市场竞争中精准触达消费者，提升营销效果，重塑消费体验，推动行业迈向新 的发展阶段。 在当下的营销环境中，超越ID赋能营销成为关键挑战。然而数字广告过度依赖以单一身份标识（ID） 作为数 ...

Financial Data and Key Metrics Changes - The company reported a first half organic net sales growth of -4.3%, with the second quarter down 5.8% [4][11] - Headline operating margin was 8.2%, down by 290 basis points year-on-year, impacted by severance costs [5][20] - Headline diluted EPS of 20p is down 35% on a reported basis, reflecting a decline in profitability [22] Business Line Data and Key Metrics Changes - Global integrated agencies saw a like-for-like decline of 6% in the second quarter, with WPP Media down 4.7% [12][13] - Other global integrated creative agencies fell 7.2% in the second quarter, with Ogilvy experiencing high single-digit declines [13][14] - Specialist agencies saw a like-for-like decline of 1.9% in the quarter, with CMI showing double-digit growth [15] Market Data and Key Metrics Changes - North America declined by 4.6% in the second quarter, while the UK saw a decline of 6.5% [16][17] - Western Continental Europe experienced a like-for-like decline of 6.5%, and the rest of the world declined 6.8%, with China down 15.9% [17] - The CPG sector saw a decline of 8.3% in the second quarter, while healthcare remained broadly flat [18] Company Strategy and Development Direction - The company is focusing on three strategic priorities: driving adoption of WPP Open, returning WPP Media to growth, and winning new business [5][8] - Significant actions have been taken towards strategic goals, including new product releases and partnerships [6][9] - The transformation of WPP Media aims to create a more client-centric organization and leverage AI technology [32][40] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macro environment and slower new business conditions impacting performance [4][10] - There is confidence in the company's ability to adapt to an AI-driven future and leverage technology for competitive advantage [45][56] - The outlook remains cautious, with expectations for improved margins in the second half of the year [20][28] Other Important Information - The Board declared an interim dividend of 7.5p, balancing shareholder returns with financial flexibility [23] - The company has reduced headcount by 3.7% since the start of the year, aligning with organic growth trends [5][20] - Total available liquidity across the group stood at £3 billion as of June 30, 2025 [27] Q&A Session Summary Question: What are you seeing in terms of pricing in this challenging macro environment? - The industry remains competitive, with pricing pressures being addressed through client wins and expanded scopes [64] Question: Can you tell us more about your product offering in influencer marketing? - The company is confident in its influencer marketing capabilities and does not see a need for further acquisitions [66] Question: Can you elaborate on the one-off factors that negatively impacted H1? - The one-off factors were related to contractual obligations in the media business in Western Europe and are not expected to repeat [68] Question: Why was Hogarth flat in the first half? - Hogarth's performance was impacted by timing issues on product launches rather than AI effects [75] Question: Can you clarify your data advantage over competitors? - The company incorporates data into performance models differently, utilizing a broader range of data sources and technologies like federated learning [80]

Financial Data and Key Metrics Changes - The company reported a first half organic net sales growth of -4.3%, with the second quarter down 5.8% [3][10] - Headline operating margin was 8.2%, down by 290 basis points on a like-for-like basis, impacted by severance costs [4][11] - Headline diluted EPS of 20p is down 35% on a reported basis, reflecting a decline in profitability [22] Business Line Data and Key Metrics Changes - Global integrated agencies saw a like-for-like decline of 6% in the second quarter, with WPP Media down 4.7% [12] - Other global integrated creative agencies fell 7.2% in the second quarter, with Ogilvy experiencing high single-digit declines [12] - PR services declined by 7.8% in the second quarter, reflecting a challenging environment for client discretionary spending [13] Market Data and Key Metrics Changes - North America declined by 4.6% in the second quarter, while the UK saw a decline of 6.5% [14] - Western Continental Europe experienced a like-for-like decline of 6.5%, influenced by one-off factors [15] - The rest of the world declined 6.8% in the second quarter, with China facing significant pressures, declining 15.9% [15] Company Strategy and Development Direction - The company is focusing on three strategic priorities: driving adoption of WPP Open, returning WPP Media to growth, and winning new business [4][5] - Significant actions have been taken towards strategic goals, including new product releases and partnerships [5][6] - The transformation of WPP Media aims to integrate data and technology to enhance client offerings and operational efficiency [29][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macro environment and slower new business conditions impacting performance [3][4] - There is optimism about improved momentum in new business in North America despite current challenges [13] - The company is well-prepared for an AI-powered future, emphasizing the importance of creativity and strategic judgment [45][47] Other Important Information - The Board declared an interim dividend of 7.5p, balancing shareholder returns with financial flexibility [23] - The company expects annualized gross savings of at least GBP 150 million from restructuring actions [18] - Total available liquidity across the group stood at GBP 3 billion as of June 30, 2025 [27] Q&A Session Summary Question: What are you seeing in terms of pricing in this challenging macro environment? - The industry remains competitive, with pricing pressures noted, but winning clients can help address these issues [66] Question: Can you tell us more about your product offering in influencer marketing? - The company is confident in its influencer marketing capabilities and does not see a need for further acquisitions [68] Question: Can you elaborate on the one-off factors that negatively impacted H1? - The one-off factors were related to contractual obligations in the media business in Western Europe and are not expected to repeat [71] Question: Why was Hogarth flat in the first half? - Hogarth faced timing issues on product launches rather than an AI impact, and AI is expected to be a growth opportunity [80] Question: Can you clarify the data comment regarding having more data than competitors? - The company incorporates data into performance models differently, utilizing a broader range of data sources beyond traditional CRM [84]

Core Insights - Criteo has announced a partnership with WPP Media to enhance commerce intelligence for Connected TV (CTV) advertising, leveraging Criteo's real-time commerce signals and WPP Media's Open Intelligence to improve advertiser reach and effectiveness [1][4][7] Group 1: Partnership Overview - The collaboration aims to provide advertisers with curated audiences based on high-fidelity commerce signals, which can be activated across any Demand-side Platform (DSP) [2] - Criteo's Commerce Grid Supply-side Platform (SSP) enables advertisers to implement commerce-first CTV strategies, linking ad exposure to measurable outcomes such as foot traffic and sales [3][5] Group 2: Market Impact - Criteo's real-time commerce signals are derived from 17,000 e-commerce sites and 200 global retail partners, representing over $1 trillion in annual e-commerce sales, which helps create high-intent shopper audiences [5] - The partnership is designed to allow brands to access these high-intent segments across their preferred DSP partners, streamlining the activation process [5][6] Group 3: Strategic Goals - The collaboration seeks to merge traditional brand marketing goals with emerging metrics of performance-driven commerce media, facilitating full-funnel strategies in CTV [4][7] - The initiative emphasizes not just improved targeting but also the ability for brands to reach broad audiences with precision and measurability akin to digital advertising [7]

Core Insights - WPP has rebranded its media business from GroupM to WPP Media, marking a significant transformation phase for the advertising giant [2] - The rebranding is part of the Vision30 strategy, focusing on integrated collaboration, platform technology, talent evolution, and innovation [2][3] - WPP Media aims to enhance client service by reducing administrative burdens on agency brands, allowing them to focus more on client collaboration [2] Organizational Structure - WPP Media will have two main roles: client teams directly serving clients and support teams assisting them [3] - The organization will streamline backend functions to improve responsiveness and operational efficiency [3] - The three major agency brands—EssenceMediacom, Mindshare, and Wavemaker—will retain their unique identities while being unified under WPP Media's management [3] Technology and AI Integration - The WPP Open platform is a key tool for implementing the transformation, enhancing collaboration and integrating systems within the organization [3][4] - AI technology plays a crucial role in the transformation, with the introduction of the "Open Intelligence" marketing model, which focuses on multi-source data integration and AI predictive modeling [4][5] - Open Intelligence aims to shift the focus from data collection to strategic insights, allowing teams to concentrate on thinking and insights rather than data retrieval [4][5] Market Trends and Strategy - The industry is witnessing a shift towards a balanced approach between brand building and performance, moving from an 80% focus on performance during the pandemic back to a healthier 50:50 balance [6] - WPP Media is transitioning from being an execution intermediary to a strategic consultant, emphasizing the importance of understanding where and how much to invest for optimal returns [6] - The company aims to leverage AI as a productivity tool rather than a mere presentation gimmick, reflecting a commitment to practical applications in the industry [6]