WFA’s Planet Pledge welcomes seven more multinationals

WFA’s flagship environmental sustainability initiative, Planet Pledge welcomes seven new signatories. AkzoNobel, Arçelik, Beam Suntory, Groupe Bel, HP, Nestlé and Vodafone have joined the global initiative, which now covers 38 multinationals representing nearly $69bn in approximate annual marketing spend.  Launched in 2021, the Planet Pledge is a CMO-led framework designed to help make marketing part of the solution to the climate crisis. It builds on existing industry efforts and aims to address the gaps preventing marketing from becoming compatible with a sustainable future.   The influx of recent signatories follows the…

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Media cost inflation to retreat in 2024, finds WFA Outlook 2024 report

From a high point in 2023, global media prices are forecast to decline gradually into 2024, finds the latest WFA media price inflation report, Outlook 2024. WFA members can download the data here. Based on the forecasts from eight agency groups and consulting companies, Outlook covers up to 41 markets and 12 media channels, including linear TV, Connected TV, Digital Video and Display, Digital Retail Media, Paid Search and traditional media channels. The general trend is one of gradual decline in the forecasted rate of price inflation. This is on…

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WFA reveals shortlist for Global Marketer of the Year 2023

WFA has unveiled the shortlist for the 2023 Global Marketer of the Year award, celebrating the work of global marketing leaders from some of the world’s biggest companies. An expert jury of 16 marketing leaders considered a host of eligible names submitted by the industry, with each judge nominating their top contenders to create the shortlist. All will be added to the WFA’s Hall of Fame. Those selected for the 2023 award are: Asmita Dubey, Chief Digital & Marketing Officer, L’Oréal: Under Asmita’s leadership, the company has continued to optimise its internal…

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Media budgets are on the rise, finds WFA and Ebiquity annual research

Neither global economies nor politics today are in a particularly stable position. But big brands are expecting to increase their budgets. A new WFA and Ebiquity study says that 60% of company representatives will increase their global media budgets in 2024 – with 14% saying they will make a significant increase, year on year.   This is a relatively dramatic increase compared to the same time last year, when just 29% of respondents said they expected to increase their annual budget. This budget increase comes despite 74% of respondents either…

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GenAI figures in most brands’ marketing plans, says new WFA research

A new survey conducted by WFA finds that three in four companies already use GenAI or plan to use it soon. Optimism about its potential is matched by concern about the risks to brand reputation. Eight in ten have developed or are developing internal policies on use of GenAI. According to a new WFA survey, over three quarters of brand owners (78%) are using or plan to use generative AI in their marketing strategies. 45% of survey respondents indicated they are already using AI, while one in three (33%) said…

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