India drives WPP growth as global markets struggle in Q3 2025
India emerged as a rare bright spot for WPP in the third quarter of 2025, posting 6.7% like-for-like (LFL) growth, while the advertising giant’s other major markets faced steep declines. In contrast, the US fell 5.6%, the UK dropped 8.9%, and both Germany and China declined 10.6%, according to WPP’s Q3 trading update. On a year-to-date basis, India recorded 2.1% growth LFL, highlighting its strategic importance in WPP’s Asia-Pacific and emerging markets portfolio.
Global slowdown and financial performance
Globally, WPP’s revenue less pass-through costs fell 5.9% LFL to £2.46 billion, while reported revenue dropped 8.4% to £3.26 billion. The company attributed the weak performance to a slowdown in its media business and recent client assignment losses.
WPP Media, in particular, saw its decline deepen sequentially — from a 4.7% LFL drop in Q2 to 5.7% in Q3, with management warning of further pressure in Q4. North America recorded a 6% LFL decline, the UK 8.9%, and Western Continental Europe 4.4%. The Rest of World segment, which includes India, fell 5%, but India’s growth cushioned the overall impact.
Client sectors showed mixed performance. Healthcare and Pharma grew 6.7%, while Consumer Packaged Goods, Automotive, Retail, and Tech & Digital Services contracted between 4% and 8%.
India as a strategic growth engine
India’s resilience was driven by new client wins, increased digital media spending, and the strength of local brands in FMCG, e-commerce, and telecom. WPP noted that India’s growth “offset global weakness” and reinforced its role in the company’s long-term Asia-focused strategy.
Technology, AI integration, and partnerships
Amid global challenges, WPP continued investing in AI and technology-driven transformation. The company renewed its five-year partnership with Google to advance cloud and AI capabilities and launched WPP Open Pro, an enhanced AI-powered marketing platform. By September, over 76,000 employees, representing more than 90% of client-facing staff, were using the platform, with India emerging as a leading market for AI adoption.
Leadership response and outlook
Group CEO Cindy Rose, who assumed her role earlier this year, described the recent performance as “unacceptable” but reaffirmed the company’s turnaround strategy focusing on simplification, cost efficiency, and emerging market growth.
“My ambition is for WPP to lead our industry in innovation, client delivery, and organic growth,” Rose said. “We will make our offering simpler, more integrated, powered by data and AI.”
WPP revised its full-year 2025 outlook, now projecting LFL growth in revenue less pass-through costs between -5.5% and -6.0%, down from an earlier forecast of -3% to -5%, with a headline operating profit margin around 13%. Adjusted net debt stood at £3.6 billion at the end of Q3, slightly down from the previous year.
India’s strong showing underscores its strategic value as a growth market, highlighting the importance of emerging economies in WPP’s global portfolio amid a challenging macroeconomic environment.
