WPP reveals astonishing 30% monthly revenue fall in first region hit by global pandemic
The global impact of the COVID crisis has been laid bare in a market update from the world’s biggest marketing holding company WPP.
The quarterly update – covering the beginning of the year until the end of March – is the most detailed one setting out the disastrous economic impact of the pandemic for the media and marketing industry.
WPP revealed that during March, revenues for Greater China, the first geographic area to be hit by the coronavirus shutdowns, fell by 29.9%.
Much of the global economic disruption has come since the quarter closed.