Coca-Cola gives major coal right before the holiday to up to 400 agencies globally

December 14, 2020 Facebook Twitter LinkedIn Google+ Account Wins

  • Coke’s announced the brand will conduct a global review of its media and creative accounts
  • $4 billion annual advertising spend
  • 400 agencies across the globe including Wieden+Kennedy, Anomaly, McCann, UM, MediaCom, Starcom, and Carat

Coca-Cola SantaA number of agencies are getting coal for Christmas instead of a renewal agency of record contract.  Coca-Cola [TCO] has announced the company will be conducting a massive agency review that will focus on every media and creative account coming for grabs across the globe for its roughly 400 brands.  The review will start in January and will continue for the majority of 2021.

Why is Coca-Cola up for review?

Coca-Cola like most brands has had a tough 2020, sales have been lower than expected due to numerous closers as a result of COVID-19.  With restaurants, bars and stadiums being forced to close during the pandemic Coke’s business took a major hit over the year. Cost cutting has become a key priority for the Executive team as they look to streamline operations. Back in October James Quincey, CEO announced Coca-Cola will slash 200 of its 400 brands including Tab, Zico, and Odwalla, and a stronger focus on its big brands such as Coke and Sprint.

Who does this review impact?

This agency review will see agencies such as agency Wieden+Kennedy, Anomaly, McCann, UM, MediaCom, Starcom, and Carat, in total 4,000 agencies across the globe be impacted by the final decision by Coca-Cola [TCO]. 

What will be the outcome of the Coca-Cola review?

While cost saving is part of the outcome, management has been quick to also stress that data will be a critical factor in the agencies selected as Coca-Cola will look to link data across it network and be less siloed.  We can expect a number of roles to be eliminated in the process across the globe.

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