Top ad guru Martin Sorrell downplays chances of Trump's Truth Social capturing serious market share

📆 28/03/2024 06:03:00
📰 CNBC

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Advertising guru Martin Sorrell questioned the prospects of Donald Trump's Truth Social platform, describing major ad sales as currently 'unfathomable.'

Advertising guru Martin Sorrell on Wednesday questioned the prospects of Donald Trump's newly public Truth Social platform.

The British businessman told CNBC on Wednesday that the former U.S. president's social media platform has yet to prove its financial viability in an already challenging advertising market. Shares jumped more than 50% during a volatile first day of trade, before ending the session up 16%, giving the company a market cap of around $7.85 billion,

The ad exec on Wednesday warned that budgets were likely to remain constrained in 2024 after reporting a fall in S4 Capital revenues for 2023.

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