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Sky has initiated a review of its European media account, currently managed by WPP’s EssenceMediacom, which is valued at approximately $598 million, including $318 million in the UK alone.
EssenceMediacom, which secured the account in 2017 and has since expanded its digital services, now faces competition from major advertising holding companies in what is expected to be a lengthy pitch process. The last time this account was up for grabs, Publicis Media and Dentsu were among the contenders, and they are likely to be involved again.
EssenceMediacom, formed from the merger of tech-focused Essence and the previously dominant Mediacom, has recently lost several significant accounts and is currently repitching for another key client, Unilever.
Publicis Media has been performing particularly well among the major ad holding groups, especially in the U.S., while Omnicom’s OMG has also shown strong results. Both groups have robust data-driven capabilities, and it remains to be seen if these will appeal to Sky.