COVID-19 WILL ACCELERATE DIGITAL TRANSFORMATION – SORRELL

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Advertising mogul Sir Martin Sorrell has suggested the coronavirus outbreak will “accelerate digital revolution”, forcing consumers and businesses to move forward as “things get tough”.

Sir Martin Sorrell, executive chairman of S4 Capital, has said the Covid-19 pandemic will mean digital and business transformation will “move at a significantly faster rate”.

Speaking to Sky News, Sorrell said people will now become more used to using technology. “I have a vested interest in this given that S4 is purely digital. This will accelerate the digital revolution, the digital transformation and business transformation will move at a significantly faster rate.”

He said this was both at a consumer level, in terms of e-commerce and in terms of media.

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“Businesses that were hesitant to move forward on digital because things were going reasonably well and they didn’t really want to disrupt things, that now is out of the window.”

S4 announced its recent results with revenue of more than £215m in 2019, an increase of 41% and pre-tax losses of £9.2m.

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