Category: In the News

OpenAI’s ads business is now running at a $1 billion annualised run rate, just six months after launch.

That figure comes from multiplying current monthly ad revenue by 12, so it’s a snapshot of where things stand today rather than money already booked over a full year. 

“We’re at the beginning of a new chapter for advertising, with AI creating entirely new ways for businesses and people to discover one another,” said Dave Dugan, vp of global ad solutions. “Reaching $1 billion in ARR in under 200 days shows the scale of the opportunity ahead.”

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Cindy Rose has been in charge of WPP for a year. So far, her tenure is best judged by examining the decisions deferred as much as the ones she’s taken.

At the time of writing, the London-listed agency group’s share price has almost recovered from last year’s exit from the FTSE 100 (its first-half results saw shares initially jump 30%, its biggest increase on record) while the company’s performance in the pitching room has also improved.

Two thirds of the way through the year, per COMvergence data shared with Digiday, WPP Media has won just over $3 billion in fresh accounts, by estimated media value, while accounts lost totaled $2.81 billion, with a retention rate of 43%. That’s a favorable contrast with last year’s 16% retention and lost accounts equalling $6.98 billion.

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