Just like Wall Street has been reluctant to embrace its stock, advertisers have been cool to Facebook.
(Credit: Sarah Tew/CNET)
The Facebook ad bashing continues. The social network is taking another hit regarding its advertising value, and this time it's from the head of the world's largest marketing group.
Sir Martin Sorrell, head of WPP, said he has told Facebook that the social network is great for branding, but not advertising, the MediaGuardian reported today. The statement is another blow to Facebook's efforts to increase its advertising dollars, particularly because the money WPP spends on behalf of its clients account for nearly a third of the money spent annually through ad agencies worldwide. Sorrell made the remarks at the Cannes International Festival of Creativity.
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