LONDON - The profit margins within traditional media, including television and newspapers, will never be the same again, according to WPP chief executive Sir Martin Sorrell.
Speaking to more than 250 media and advertising professionals at an IAA event yesterday (January 21), the leader of the group behind some £15bn in revenue last year, warned the media sector continues to be "disintermediated" by low-cost business models.
"The painful thing for old media is it will never be the same again," Sorrell said. "It will never be as profitable as it has been."
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