WPP announces five million dollar investment in award-winning podcasting company Gimlet
Gimlet’s advertising and branded-content clients include Alphabet Inc., Ford Motor Company, PepsiCo, Match Group, eBay, Blue Apron, Goldman Sachs and Microsoft Corporation. Gimlet is based in Brooklyn, New York and was founded in 2014. It employs 85 people.
Gimlet’s podcasts are downloaded over 12 million times per month in over 190 countries worldwide. Gimlet’s programming includes critical and commercial hits spanning a variety of verticals like StartUp (business), Reply All (internet culture), Mogul (music), Homecoming (scripted fiction), Uncivil (history), Science Vs (science), Crimetown (true crime), The Nod (Black culture), among many others.
Gimlet also produces branded podcasts on behalf of advertisers looking to connect with Gimlet’s sought-after millennial audience on a deeper plane.
In the past, year Gimlet has produced hit branded podcasts including DTR Define the Relationship (Tinder/Match Group), Open for Business (eBay), The Venture (Virgin Atlantic), The Secret to Victory (Gatorade), and future (Microsoft).
Since its founding, Gimlet has raised 27 million US dollar in funding.
The investment continues WPP's strategy of focusing on three key areas that differentiate the Group's offering to clients: technology, data and content.
The Group has invested in digital content companies like Russell Simmons' All Def Digital, Fullscreen, Indigenous Media, Imagina (a content rights and media company based in Spain), MRC, Mic, Mitú, Refinery29, Uproxx Media Group and VICE.
WPP's digital revenues were over 7.5 billion US dollar in 2016, representing 39 percent of the Group's total revenues of 19.4 billion US dollar.
WPP has set a target of 40-45 percent of revenue to be derived from digital in the next four to five years. Digital represented 41 percent of WPP’s revenues as of June 30, 2017. In North America, WPP companies (including associates) collectively generate revenues of 7.5 billion US dollar and employ almost 29.000 people.