WPP’s giant MediaCom agency has bounced back strongly from losing £2bn VW to Omnicom’s PHD a couple of years ago but this week isn’t so good: it’s declined to re-pitch for Revlon which it’s handled for seven years and one of its bigger clients – GSK which it shares with PHD – is reviewing. GSK spends about $1.7bn globally. ID Comms is managing the GSK pitch.
Omnicom’s OMD, Interpublic’s Initiative and Havas are competing for Revlon. Just a year ago Revlon consolidated all its work into WPP with creative going to Grey. This deal bore all the hallmarks of WPP’s departed CEO Sir Martin Sorrell.
Any CMO who isn’t reviewing their media account in today’s climate might be accused of sleeping on the job by cost-conscious shareholders. GSK has been under shareholder pressure recently as big pharma struggles to produce the blockbuster drugs it needs and governments and others belatedly try to reduce the massive prices they try to charge.
It’s interesting that MediaCom, which is showing some signs of independence, has pulled out of a WPP deal.