WPP's Sorrell: New Markets, New Media & Consumer Insights

WPP Group chief Sir Martin Sorrell, whose firm owns such sponsorship titans like MEC Access, Prism and IEG, says revenues were down 8% in the first half of the year, but that results were "less worse" in July and August.

Sorrell says a global recovery should be a question of LUV: a little growth in Western Europe, a U-shaped recovery in the U.S. and a more V-shaped recovery for Asia.

He sees three strategic factors to a recovery: finding new markets, leveraging new media capabilities and identifying changing consumption patterns and consumer insights.