Reports: Volkswagen to review its multi-billion dollar global media account
Volkswagen is reviewing its global media plan and purchasing account.
The automaker’s contract with PHD expires at the end of 2023, so we can expect a global media marathon.
The $ 4 billion (AU $ 5.5 billion) contract covers brands such as Volkswagen itself, Audi, Skoda and Seat.
The Germany-based auto company spent 1.5 billion euros (A $ 2.3 billion) on the Volkswagen brand alone in 2020.
The media review, reported in the German media outlet HorizonT, is part of a statutory process.
The previous comprehensive review lasted a year.
Volkswagen said Campaign: “In the coming year, there will be a regular call for tenders for the Volkswagen group’s media agency contract, which has been in place since 2016 and runs until the end of 2023.
“This will be the responsibility of Jason Lusty, who has taken over the group’s marketing in addition to branding and marketing. We ask you to understand that we are not providing further details.
Volkswagen’s announcement comes as PHD has promoted its current Chief Strategy Officer for APAC, Chris Stephenson, to Global Marketing Director.
Stephenson will succeed Avril Canavan who will now work as an independent marketing consultant.
B&T contacted a representative from PHD about Volkswagen presenting its media globally, but they did not provide any comment.
PHD was appointed to the account in 2016, with Volkswagen wanting the agency to place more emphasis on digital and programmatic.
Before PHD held the account, Volkswagen had been using WPP’s MediaCom since 1998.
PHD managed Bentley and Porsche globally and Seat in the UK prior to 2016.