Facebook has put its global media account under review, Campaign US has learned.
The account is worth $750 million, according to Comvergence. The land is managed by ID Comms, according to sources close to the land.
Mindshare and Dentsu are the incumbents and are involved in pitching, which includes media planning and buying across Facebook’s businesses – Instagram, Facebook, WhatsApp and Messenger.
Facebook, Mindshare and Dentsu did not respond to requests for comment in time for publication.
Apart from being one of the biggest global advertising platforms, Facebook is also a massive advertiser. According to AdAge, the company increased its advertising spend by 43% in 2020, which puts it at the top of the list as one of the biggest consumers of advertising in the world.
Recently, Facebook directed that budget toward a campaign calling for targeted advertising support because of its ability to help small businesses reach their customers.
On the creation side, Facebook divides its activity between different agencies by application. Ogilvy is the go-to agency for Instagram; Wieden + Kennedy does the creative for Facebook itself; Leo Burnett is AOR for Messenger; BBDO creates for WhatsApp; and Droga5 is the go-to agency for corporate branding.
Facebook also has an in-house creative agency, Creative X, which works across the brand.
The media pitch marks the latest massive advertiser to subject its global account to scrutiny in the wake of the COVID-19 pandemic.
Coca-Cola overhauled its $4 billion creative and media account late last year in a bid to streamline its agency roster. A month later, Unilever reviewed its list of global media agencies in what is likely to be one of the biggest pitches of the year.
Brands are reconsidering their agency models as the world emerges from the pandemic, making 2021 a year of major account changes in the business.
