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Snapchat Might Actually Be a Threat to Facebook, Advertising CEO Says

January 17, 2017 / fortune

Is there a chance Snapchat is becoming a bigger threat to Facebook? Martin Sorrell, the chief executive of WPP, the world's largest advertising firm, thinks it may be.Sorrell first told CNBC Tuesday that the firm's clients spent a whopping $90 million on advertising on Snapchat last year about $60 million more than what WPP predicted would be spent on the app at the beginning of the year. That amount means Snapchat's 2016 revenues are likely to be higher than what the market currently predicts, CNBC reports, considering WPP clients spent $90 million of the original $350 million that was expected.