Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. If you're reading this online or in a forwarded email, here's the link to sign up for our Wake-Up Call newsletters. Coke’s giant review Coca-Cola is undertaking a massive agency review that puts every media and creative account up for grabs across the globe for its roughly 400 brands, as it looks to significantly reduce its roster. Ad Age’s E.J. Schultz writes that the review is one of the most significant of the year, involving around 4,000 agencies. These include Coke creative agencies such as Wieden+Kennedy (which created Coke’s global holiday ad), Anomaly and McCann, as well as UM, which has held Coke’s North American media account since 2015. The move comes as Coke’s business is under stress from the pandemic, with venues like sports stadiums and bars and restaurants shuttered. But Coke execs say this review is about more than cost-cutting; it also signifies an increasingly global approach to creative campaigns. This, writes Schultz, “means the company is likely to favor agencies that can also scale, or operate across multiple countries.” News of the review prompted condemnation from some in the industry, like Cindy Gallop, who tweeted: “This is the advertising industry's very own '2020, WTF?!!!!' This is also very bad news for a huge number of agencies - just before the holidays.”FTC threatens Facebook breakup The Federal Trade Commission finally delivered its... Continue reading at 'Advertising Age'
[ Advertising Age | 2020-12-10 10:59:27 UTC ]