WPP shares rise after deal with TikTok – MarketWatch

Advertising and marketing giant WPP Plc
WPP,
+1.93%
has signed a deal with social media platform TikTok that will allow clients of WPP agencies to gain early access to new TikTok advertising products, including augmented reality capabilities, as well as other offerings. TikTok will also partner with influencers on projects for WPP clients. “TikTok has quickly demonstrated the power of mobile video and the many opportunities that exist for brands to engage in meaningful and creative ways on its platform,” said Mark Read, chief executive of WPP, in a statement. WPP has previously partnered with TikTok. WPP stock rose 2.2% in Monday premarket trading, but has fallen 16.4% over the last year. The S&P 500 index
SPX,
+0.85%
is up 15.2% for the past 12 months.