A company that has already been making money in the digital market has just decided it doesn’t want to invest more in it anymore.
In a memo obtained by the New York Times, the digital ad agency DDB Digital wrote that it was “in the process of closing our digital marketing division.”
It did not say what kind of business it was closing or how many jobs it would be shutting down.
The memo, which the company did not respond to in time for publication, also included a letter from DDB Chief Financial Officer Scott R. Anderson to the company’s board and staff.
“While we believe we have a good product, we cannot deliver the value we envision for our customers, investors, partners and employees.
We are moving to eliminate the digital division,” Anderson wrote.
DDB said that it will be closing all of its digital ad businesses by March 31, 2018.
It said it was not seeking any additional financing or capital.
The move is the latest in a series of moves by companies to get out of digital advertising.
Many digital companies have been cutting jobs and shutting down their businesses in recent years.
But some have found success in the space with advertising on mobile devices and other platforms.
In April, Yahoo announced it was cutting its advertising revenue by about 50% and said it would no longer sell ads to retailers or publishers, and that it would stop using the same ads it uses on its own platforms.
Earlier this month, Microsoft said it had been buying more than $1 billion in digital ad assets for advertising on Xbox Live, the online multiplayer game service.
In August, Google announced it would end its relationship with a large ad company it had partnered with to produce ads for its search engine.
And a handful of other digital companies announced that they would be closing or cutting jobs in the industry.
At least six digital advertising firms, including Google, have also announced that their digital operations will be shut down by the end of the year, or that they have laid off hundreds of employees.
In an email to the New Times, a spokesman for DDB wrote that the company has been “looking for a different opportunity” since the memo was published.
He added that DDB was “doing the right thing for the business and the people who work for it.”
DDB’s move was likely related to a decision by its chief financial officer, Scott Anderson, who wrote in the memo that DDP Digital had been in “a very challenging time” in the past year.
Anderson wrote that DDF had been a “smaller business than we expected to be in this market, with many of the traditional revenue streams and capabilities being outmoded.”
He said that DDS was not only being “reluctant to spend more money on our digital businesses,” but also was having difficulty attracting new business because of “our continued lack of traction with new customers and advertisers.”
Anderson said that “a combination of a weak ad inventory and poor ROI for digital ads have led to us reducing our digital ad portfolio.”
He also wrote that “our growth and profitability in digital have been driven by our ability to offer a differentiated product that aligns well with our customer’s needs and wants and is not only relevant to our own brand but is complementary to our overall digital strategy.”
DDP has made a career out of being one of the biggest players in the ad industry, with its clients ranging from Amazon to eBay.
It was also the first digital agency to sign a contract with the Office of National Drug Control Policy, which allows it to use its own software to manage its own ads on a broad array of platforms, including mobile and tablets.
DDP’s digital business also includes digital content, digital analytics and digital marketing.
“We have had to make difficult decisions as we have sought to expand and adapt to a digital world where ad revenue is less sustainable than it was in years past,” said Scott Anderson in the letter.
“As a result, we are not only losing our clients’ trust, but also our ability for us to deliver on our promise.”
The letter from Anderson comes on the heels of other reports that some digital advertising companies have also decided to close.
Last week, the Journal reported that a company called BlueCrescent Media had shut down its digital advertising business.
And on Wednesday, a new study from a consultancy firm found that some big digital advertising agencies had shuttered or closed more than 1,000 jobs, including more than 2,500 at DDB.
“It is clear that digital advertising is not a viable business for the industry,” said Mark M. Reiss, president of the American Media Research Association.
“The business of advertising is fundamentally changing in the years ahead.
We need to be ready to adapt and compete.”
Reiss said that the digital advertising industry was facing “an existential threat” as companies began to look for other avenues to make money.
“There are a number of reasons for