Visa Inc (V)’s New Media Agency Will Be Publicis’s Starcom
Visa Inc (NYSE:V) has picked up Publicis Groupe’s Starcom as its new media agency. Starcom will manage a big chunk of the credit and debit card issuer’s international media business. The company initiated the process of selecting the agency earlier this year and started to review different agencies like OMD and Essence. That brought the final list to three agencies and the company selected Starcom.
Size Of Business Not Disclosed
The size of the business that Visa Inc (NYSE:V) will offer Starcom is not disclosed by the reports. The company is also yet to make an official announcement. Given the presence of Essence in the review process, it not clear whether the company will spin-off the digital assignment or not. In 2014, the company spent about $112 million on measured media in the United States.
That was 13% lower than the amount spent in the preceding year of 2013. Those who are involved in the list refused to comment on the recent developments. That included OMD and Starcom. In the last media review meeting of the card processor, Omnicom’s OMD retained the company’s media account. That drove its global business during that period.
Visa Inc (NYSE:V) reviewed the previous process on the heels of a big reorganization during the year 2007. Incidentally, that witnessed the hiring of Antonio Lucio as its first CMO for global operations. The earlier review process also enabled a global consolidation process.
In the most recent post, Lucio oversaw marketing, communications, as well as, advertising as the company’s Chief Brand Officer. However, he indicated earlier in the year that he was leaving the firm to join Hewlett-Packard Co. (NYSE:HPQ)’s printer division. His resignation came on the heels of the exit of the core products’ CMO, Kevin Burke, as he was appointed by payments System Company, Square, in December last year. Advertising is key and how the money will be spent will indicate whether the program is successful or not.
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