WPP acquires 88rising to further its millennials strategy
Advertising and marketing firm WPP has made a strategic investment in US digital content producer 88rising. The 15 employee New York- and Los Angeles-based company, which plans to open an office in Shanghai, deals with brands including Adidas, Maybelline, and Revolve, creating content relating to Asia and Asian culture. It is the latest in a series of similar investments made by WPP into companies focussed on millennial markets.
WPP has made a strategic investment in 88rising, a US-based digital content producer for Asian Millennials. The company focuses on content relating to Asia and Asian culture, and more than half of its Millennial viewers are based in Asia Pacific.88rising has branded and sponsored content deals with companies such as adidas, Maybelline and Revolve, an online fashion and cosmetics retailer. Founded in 2015, 88rising employs 15 people and is headquartered in New York, with an office in Los Angeles. According to the press statement, it plans to open an office in Shanghai.The investment continues WPP's strategy of focusing on three key differentiators: technology, data and content. It has a stake in multiple specialised digital content companies such as Russell Simmons' youth culture and music media company All Def Digital; and fashion and lifestyle media company Refinery29. The group also has strategic investments in digital media companies Woven Digital and Mitú, both targeting the Millennial male market in the US and Latino youths worldwide, respectively.WPP's digital assets also include companies such as marketing technology consultancies Acceleration and Cognifide; database marketing company Conexance;digital commerce consultancy Salmon; and marketing implementation agency Hogarth. According to WPP, in 2016, the company's digital revenues were over US$7.5 billion, representing 39% of the group's total revenues of US$19.4 billion.