Business & Finance
PepsiCo awards $1.7 billion media account to Publicis Groupe
Publicis secured the global mandate without a standard review and is exiting its Coca-Cola work, according to Business Insider.
The short version
- Publicis Groupe secured PepsiCo's $1.7 billion global media, data, and tech account without running a formal pitch.[Business Insider]
- The move ends Pepsi's relationship of more than 25 years with previous global agency partner Omnicom.[Business Insider]
- Following the win, Publicis is withdrawing from Coca-Cola's global pitch and preparing to resign its North American Coke business.[Business Insider]
Key facts
- Publicis Groupe secured PepsiCo's $1.7 billion global media, data, and tech business without going through a traditional pitch.[Business Insider]
- Omnicom had served as Pepsi's global media partner for more than 25 years before the change.[Business Insider]
- Publicis has pulled out of Coca-Cola's global pitch and plans to resign its North American Coke account, according to two sources.[Business Insider]
- Research company COMvergence estimates Coca-Cola's North American account at $805 million and its global spending at $1.8 billion.[Business Insider]
What remains uncertain
- The planned resignation of Coca-Cola's North American account and withdrawal from the global pitch rely on unnamed sources.[Business Insider]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
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