WPP invests in US-based digital content producer 88rising

The group, which caters to the Asian millennial market, has branded and sponsored content deals with companies such as Adidas, Maybelline and Revolve, an online fashion and cosmetics retailer. Based in New York with office in Los Angeles, it employs around 15 people and plans to open an office in Shanghai.

To date, 88rising has produced more than 500 hours of original content that has generated over 80m total video views on Facebook and YouTube. More than half of its 16-34-year-old viewers are in the Asia Pacific region.

WPP said the investment continues its strategy of focusing on three key areas that differentiate the group's offering to clients: technology, data and content. The company has invested in multiple specialised digital content companies like Russell Simmons' All Def Digital, which produces and distributes music and digital content for the urban-centric youth culture, and Refinery29, a fashion and lifestyle media company that provides content, shopping solutions and social networking opportunities in the fashion, shopping and beauty categories targeted towards millennial women.

At 1230 BST, the shares were up 0.2% to 1,740p.