Publicis Snags Coca-Cola US/Canada Media from WPP

In a shift within the advertising landscape, Publicis Groupe has reportedly won The Coca-Cola Company's media planning and buying business for the United States and Canada, according to industry sources. This victory comes at the expense of WPP, the incumbent agency that currently holds Coca-Cola's vast global integrated account.

The decision, emerging from a competitive, closed-door review, marks a notable change in Coca-Cola's agency relationships. While WPP secured the beverage giant's global business in a landmark $4 billion deal three and a half years ago, Publicis Groupe, the runner-up in that earlier contest, has now carved out a substantial portion of the North American market.

The review specifically targeted Coca-Cola's U.S. media operations, which, according to COMvergence estimates, represented approximately $785 million in media spending in 2024. This win represents a strategic expansion for Publicis Groupe, bolstering its already strong media portfolio, which has recently seen significant gains with clients like Pfizer and Hershey’s.

Coca-Cola, in a statement, emphasized its commitment to evolving its marketing model and confirmed the appointment of Publicis Groupe as a "complementary partner" for its U.S. and Canada media business. The company also reiterated that WPP remains its "only global marketing partner" and that renewal discussions are in advanced stages.

For WPP, while the majority of its Coca-Cola business lies in creative and production, the loss of the North American media account is a setback. The holding company, which is heavily reliant on its media network GroupM for growth, recently faced investor concerns after reporting weaker-than-expected financial results.

Publicis Groupe's success in this review underscores its growing strength in the media sector, a trend that has contributed to the company's upward revision of its 2024 earnings guidance. This development signals a dynamic shift in the competitive landscape of major advertising holding companies.