Majority of global brands have been conducting global media reviews since the past quarter and only more brands seem to jumping to the review bandwagon. Some of the media reviews initiated include Volkswagen, Coca-Cola, Proctor and Gamble, 21st Century Fox, Sony Pictures, Loreal, GSK ,Corona, Johnson &Johnson, Mondelez, and Citibank and Unilever. Industry estimates peg marketing spends worth $30 billion are up for grabs globally.
Out of these Johnson &Johnson, Mondelez, Citibank are some of the reviews that also impact the India market.
Interestingly brands like Citibank and Mondelez have opted to conduct a closed pitch, which translates to a pitch between their current agencies globally, thus closing participation to all other agencies.
In the case of Mondelez, Aegis Media and Starcom MediaVest are battling it out for the account pegged at Rs 500 crore, while Madison Media, which is the current media agency for the brand in India, cannot participate in the pitch.
Similarly for Citibank, the pitch is open to only the brand’s global agencies which are MEC and Starcom Mediavest.