The news: WPP’s turnaround plan seems to be picking up one year into CEO Cindy Rose’s tenure—but whether current momentum is enough to completely reverse the company’s trajectory remains uncertain.

• WPP has won over $3 billion in fresh accounts in 2026, while lost account value sits at $2.81 billion, according to COMvergence data vetted and shared with Digiday.
• Losses were well below the $6.98 billion that WPP recorded in 2025.
• WPP’s retention rate has climbed to 43%, compared with just 16% this time last year.

Catching up: WPP’s Elevate28 is a phased, multi-year turnaround plan. It aims to stabilize new business performance, followed by an aggressive go-to-market strategy, and lastly positioning itself as a low-cost and AI-forward agency.

COMvergence’s findings suggest that Elevate28 is already showing results, with WPP’s Q2 results also showing signs that revenue declines are stabilizing.

Problems remain: Steady turnaround progress could be threatened by the issues still plaguing WPP, including client losses, lackluster data, and lingering doubts on its ability to eventually turn a profit.

• WPP lost several top clients in recent years that new account wins haven’t fully offset, including Coca-Cola, PayPal, Paramount, and Mars.
• Losses were partially due to WPP’s data shortcomings, including issues like incorrect audience profiling.
• And while current data shows that WPP is making progress on Elevate28, some are still casting doubt—for instance, a former project manager expressed skepticism about the company’s ability to turn a profit by 2027, per court filings, pointing to ongoing internal and client-facing challenges.

Implications for marketers and agencies: WPP’s improving retention and new business performance suggest Elevate28 is beginning to address some of the issues contributing to the holdco’s recent struggles. But early momentum doesn’t erase concerns around client losses, data capabilities, and profitability.

Marketers should benchmark WPP’s evolving AI, data, and integrated service offerings against competitors as the turnaround progresses. Agencies, meanwhile, should monitor whether improving retention and account wins persist, which could signal that WPP’s restructuring is making it a stronger competitor for major accounts.

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