Mastercard is shaking up its agency roster, appointing WPP Media as global media partner, the agency confirmed to Marketing Dive. The payments firm at the identical time has enlisted Ogilvy, also owned by WPP, to assist “construct, foster, and interact online communities,” the shop said in a LinkedIn Post.
Mastercard’s media account had been handled by Dentsu’s Carat since 2014 while Interpublic’s McCann stays its lead creative and social agency, Ad Age reported. Mastercard spent about $180 million on media last yr, COMvergence estimates.
The shakeup marks a needed win for WPP’s beleaguered ad-buying arm, which has been battered by major client losses this yr, including Coca-Cola in North America and Mars. The group rebranded from GroupM to WPP Media in June and has been enriching its capabilities around artificial intelligence (AI), which appears to have improved its appeal to Mastercard. Mastercard couldn’t immediately be reached for comment.
“This is a landmark win for our company that speaks to the momentum we’re constructing as WPP Media, the ability of our integrated offer, and the worth of the investments we’re making to offer our clients a bonus within the AI era,” said WPP Media CEO Brian Lesser in a LinkedIn post.
Shortly following its rebrand, WPP Media launched a “large marketing model” called Open Intelligence that uses AI to predict audience behavior and the market performance of campaigns. Open Intelligence is a component of a bigger push to wean off of ad-targeting methods reliant on legacy IDs.
Securing the Mastercard business puts some fresh wind in WPP’s sails following a primary half that turned out weaker than originally expected. Revenue less pass-through costs, a very important measure of agency health, declined 5.8% on a like-for-like basis in Q2, per a trading statement shared earlier this month. The ad-holding group expects full-year declines between 3% and 5%, a dismal forecast it attributes to worsening macroeconomic conditions and a failure to secure enough latest business.
WPP can also be undergoing a transition in the highest ranks, with Cindy Rose replacing Mark Read as CEO initially of September. Rose joins the agency from Microsoft, aligning with WPP’s greater drive for tech and AI-powered transformation.
“Mastercard is certainly one of the world’s most respected and trusted brands, at the guts of world commerce,” said Rose in a press release shared with Marketing Dive across the Mastercard win. “To be chosen as their partner is an honor and testament to the AI-based data solutions we’re constructing at WPP to fuel intelligent growth.”
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