[June 29, 2016] |
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WPP and Tencent establish "China Social Marketing Lab" Strategic Partnership
In the spirit of innovation and creativity, WPP (NASDAQ:WPPGY, the
world's largest communications services group, and Tencent, a leading
provider of Internet value added services in China, have signed a
memorandum of understanding (MOU) and entered into a strategic alliance
to create a social innovation and ideation lab.
The "China Social Marketing Lab" will leverage Tencent's strengths in
the local online space and WPP's global marketing expertise. The lab
will develop enhanced solutions that cater to clients and their target
audiences. Through knowledge sharing, the collaboration will harness
technology, analytics and creative input to build social ideas and
campaigns for Tencent's QQ and Weixin/WeChat platforms.
Sir Martin Sorrell, founder and CEO of WPP said, "This partnership
combines the best of talent and technology within WPP and Tencent.
Fostering innovation in the social sphere is key in today's world of
hyper-connectivity. Collaborating with partners and clients is a
strategic way forward for WPP and our agencies to create stronger
products for better engaging end-users."
Davis Lin, Vice President of Tencent said, "This partnership represents
Tencent's efforts to create a vibrant content industry through creative
social advertising formats, data and technology. Tencent's QQ and
Weixin/WeChat are among China's most-used mobile applications. In
conjunction with WPP's global agencies, we will connect businesses with
people while offering both businesses and usersan enhanced social
experience."
The MOU was signed on the sidelines of the Cannes Lions International
Festival of Creativity where WPP was named the world's most creative
holding company for a sixth consecutive year. The win means WPP now
holds the title of Parent Company of the Year for 2016 at four of the
industry's leading awards programmes: Cannes Lions, the Effies, the Warc
100 and The One Show.
About WPP
WPP is the world's largest communications services group with billings
of US$73 billion and revenues of US$19 billion. Through its operating
companies, the Group provides a comprehensive range of advertising and
marketing services including advertising & media investment management;
data investment management; public relations & public affairs; branding
& identity; healthcare communications; direct, digital, promotion &
relationship marketing; and specialist communications. The company
employs 194,000 people (including associates and investments) in over
3,000 offices across 112 countries. For more information, visit www.wpp.com.
WPP was named Holding Company of the Year at the 2016 Cannes Lions
International Festival of Creativity for the sixth year running. WPP was
also named, for the fifth consecutive year, the World's Most Effective
Holding Company in the 2016 Effie Effectiveness Index, which recognizes
the effectiveness of marketing communications. In 2016 WPP was
recognised by Warc 100 as the World's Top Holding Company (second year
running).
About Tencent
Tencent uses technology to enrich the lives of Internet users. Every
day, hundreds of millions of people communicate, share experiences,
consume information and seek entertainment through our integrated
platforms. Tencent's diversified services include QQ, Weixin/ WeChat for
communications; Qzone for social networking; QQ Game Platform for online
games; QQ.com and Tencent News for information and Tencent Video for
video content. Tencent was founded in Shenzhen in 1998 and went public
on the Main Board of the Hong Kong Stock Exchange in 2004. The Company
is one of the constituent stocks of the Hang Seng Index. Tencent seeks
to evolve with the Internet by investing in innovation, providing a
mutually beneficial environment for partners, and staying close to users.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160629005726/en/
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