WPP has announced that its wholly-owned operating company Hill+Knowlton Strategies, an international communications consultancy, has agreed to acquire Rice5, a full service digital creative agency.
Founded in 2003 with offices in Hong Kong and Shanghai, Rice5 specializes in innovative brand building, engaging audiences with creative design and technology, and social and digital media.
Rice5’s unaudited revenues for the year ended 31 December, 2013 were HK $16.6 million, with gross assets at the same date of HK $6 million. Rice5 employs 48 people. Rice5’s client portfolio includes Givenchy, L’Oreal Group, LEE Jeans, Maxim’s Group, Rayban and The Hong Kong Tourism Board, among others.
This acquisition marks a further step towards WPP’s declared goal of developing its networks in fast-growth markets and sectors.
In Greater China, WPP companies (including associates) generate revenues of US$1.4 billion and employ over 14,000 people. Like-for-like revenue growth in Greater China was 4 percent in 2013 (excluding associates). In the Asia Pacific region, WPP companies (including associates) generate revenues of US$5 billion and employ over 48,000 people. Like-for-like revenue growth in Asia Pacific was 5.2 percent in 2013 (excluding associates).
WPP recently raised its targets from 35-40 percent for each of fast-growth markets and new media to at least 40-45 percent over the next five years.
App analytics and market data company, App Annie, have released a new report that sheds light on Gen Z’s mobile behavior, in order to help marketers develop effective strategies to reach them. 98% of Gen Z report owning a smartphone, on average receiving their first at the age of 10. They are also part of […]
Experticity, the world’s largest community of influential category experts have released a new study that sheds new light on the importance of micro-influencers on the average consumer. The study was conducted with online interviews of more than 6,000 individuals from the United States drawn from Experticity’s micro-influencer network and the general population. In addition, more […]
Market research companies eMarketer and Global Web Index have collaborated together to release the 10th edition of the global media intelligence report. The report is a detailed compilation of data and insights about internet users’ traditional and digital media usage in 42 key markets worldwide. Communicate will be highlighting the key trends that are shaping the […]
Social Bakers, a global AI-powered social media marketing company has released the Q3 edition of their social media trends report. The report reveals where the industry is currently standing with regard to spending and engagement globally. Here are the key findings – ADVERTISING Worldwide ad spend increased by 56.4% in Q3 compared to where it […]