Facebook Is Concerned About Snapchat’s Penetration: WPP

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Facebook Is Concerned About Snapchat’s Penetration: WPP
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Facebook is undoubtedly getting huge competition from Snapchat when it comes to the advertising. According to Martin Sorrell, chief executive officer of WPP, his clients poured $1 billion more into Facebook advertising than they did into Snapchat this year. However, the CEO of the advertising public relations company did acknowledge that the social media giant has been trying to undermine Snapchat, according to Gizmodo.

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Sorrell explained, “Clearly there is some concern [by Facebook] about the penetration Snapchat is getting.”

The WPP CEO disclosed that his clients have spent around $70 million on Snapchat advertising, and he expects them to invest $1.7 billion (far more in comparison to the $1 billion they spent last year) on the social networking site, and $5.5 billion in Google advertising this year. In late August, WPP said it is boosting spending on Google and Facebook, mostly because of an increase in spending on mobile search, notes the WSJ.

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