Rs 2,000+ crore media accounts up for grabs: Biggest brands await new partnerships

A scramble for big bucks is underway as agencies compete for high-stakes pitches worth over Rs 2,000 crore across FMCG, automobile, BFSI and e-commerce sectors. Most of these pitches have been up for grabs since early in the second quarter of the fiscal. Industry sources expect decisions to be finalised before the end of 2024, setting the stage for strategic shifts in the advertising landscape.

Here's a breakdown of some of the biggest brand pitches and the agencies in play:

Eyewear giant seeks new vision (Rs 100-150 crore)

Lenskart, the prominent eyewear retailer, is shaking things up by calling for a multimedia pitch for its media account, estimated at a whopping Rs 100-150 crore. Starcom, the incumbent agency, has held the media duties since 2017. With a strong online and offline presence, Lenskart seeks a partner to further amplify its brand story.

Lenskart recently appointed Jaimit Doshi as Global Head of Marketing and CEO of its subsidiary, Hustlr. This follows a strong FY23 performance, with revenue surging 152% to Rs 3,788 crore and net losses narrowing to Rs 64 crore.

Earlier this year, Lenskart raised $200 million in secondary investments from Temasek and Fidelity. In June 2023, the company secured $600 million in two rounds, providing significant exits to investors like SoftBank, Chiratae Ventures, and KKR. Also, the company is expected to go public next year or so.

Dabur churns the media butter (Rs 350-400 crore)

Consumer goods giant Dabur is also on the hunt for a fresh media perspective. Their hefty media account, valued at Rs 350-400 crore, has attracted top contenders like Dentsu, Starcom and Lodestar. 

Currently, Starcom Mediavest manages Dabur's media planning, while media buying is handled by the in-house agency Adbur. The pitch, initially announced in May, went quiet for a period and reactivated just before the festive season, reigniting competition among top agencies.

According to sources, Dabur is looking at consolidating its media duties under one roof.

Hero MotoCorp revs up for change (Rs 400 crore )

Hero MotoCorp, the two-wheeler leader, is also looking for a new media partner for their Rs 400 crore account. Dentsu, IPG, GroupM, Publicis, and Havas are all vying for this lucrative opportunity. With Publicis defending their current position, the competition is fierce. 

“It’s been hanging for a long time with no further filtration from the Hero team,” a source had confirmed to Diwali. According to them, the results for the winning agency are expected post-Diwali. 

According to the Pitch Madison Advertising Report 2024, Hero MotoCorp allocated between Rs 500-600 crore to advertising last year, making this a highly competitive pitch.

Tata Motors: A race across all channels (Rs 450 crore)

Adding to the automotive frenzy, Tata Motors is inviting pitches for its passenger vehicle mandate, encompassing OOH, digital, media, and creative services. This account boasts a potential spend of Rs 450 crore, IPG, the incumbent agency, remains a strong contender for Tata Motors' media mandate. However, the company is open to considering ‘fresh ideas’. 

Unlike Hero MotoCorp's pitch, which is dominated by major agencies, Tata Motors has attracted interest from several smaller agencies as well, widening the competition.

“Tata has said if we have fresh ideas, they are ready to listen and consider,” said an agency head involved in the pitch. 

Another source close to the account emphasised, “Pricing will be an important factor in both accounts.”

Tata Consumer Products eyeing new media partner (Rs 150-200 crore)

Tata Consumer Products (TCP) invited pitches for its integrated media mandate, valued at Rs 150-200 crore. The move comes after a two-year hiatus from the last pitch in 2021. Wavemaker India currently holds the media duties, having won the account in a multi-agency pitch in 2022.

TCP's ad spending has steadily increased, reaching Rs 977.69 crore in 2024, a 12.87% jump from the previous year. The company's diverse portfolio includes tea, coffee, water, and various food products under well-known brands like Tata Tea, Tetley, and Tata Salt.

The pitch was announced in July 2024.

Kotak Mahindra seeking digital expertise (Rs 100-150 crore)

The financial services giant, Kotak Mahindra Group also joined the pitch party this year. Their media mandate, estimated at Rs 100-150 crore, prioritises digital channels. Currently, Wavemaker handles the media mandate for Kotak Mahindra Bank, but this pitch opens up the possibility of a change in strategy.

With media spends across sectors increasing, especially in automotive and consumer goods, agencies are competing intensely to secure these high-value accounts. The results of these pitches will shape the advertising landscape for 2025, reflecting the growing emphasis on digital strategies, premiumisation, and innovation in media planning.