REUTERS/Brendan McDermid
WPP Group CEO Sir Martin Sorrell.
The CEO of the world's largest
The figure is more than double the $96 million WPP spent on Snapchat in 2016. And it indicates that Snapchat parent company Snap Inc. was able to secure at least some of the $4 from ad agencies earlier this year.
Sorrell $4 that advertisers are starting to see Snap as a "third force" to Google and Facebook, which together $4.
During his interview with Cheddar on Thursday, Sorrell said that Snap is still "a dwarf in relation to both Google and Facebook," but that he'd like to see the company become a strong third contender. He said he expects Snap to reach $1 billion in ad revenue this year.
The 72-year-old ad chief also cast doubt on Snap labeling itself as a "camera company," noting that he found the definition "a little bit difficult to go along with."
All eyes are on Snap's $4, which will be reported May 10. Its US revenue is expected to soar 158% to $770 million in 2017, according to eMarketer.
Snap declined to comment.
You can watch Sorrell's full interview with Cheddar below. His comments about Snap were made around the 9 minute mark:
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