Nike is getting ready to launch a global media review, according to Campaign US. The procedure is still in its infancy.
According to insiders, an RFI has already been sent to all of the main holding firms, including GroupM, Omnicom Media Group, Dentsu Media, Publicis Media, IPG Mediabrands, Stagwell Media, and Havas Media.
The formal evaluation will encompass the Nike and Jordan brands, will begin in the new year. Nike plans to send out an RFP to the shortlisted agencies in February, with the process wrapping out in the spring. The pitch is reported to be led by R3, but could not be reached for comment.
According to insiders, Nike hasn’t conducted a global media assessment on this scale in over a decade. The media account for the footwear brand is divided across multiple agencies in different locations, thus participating agencies will most likely have a piece to defend, depending on the market.
Sources predict that a total of $1 billion in spending is up for grabs. However, some agencies stand to lose more than others. In Europe and other regions, WPP-owned Mindshare handles traditional planning and buying. Assembly, which is owned by Stagwell, owns a part of the business in Europe and Asia, while Hakohodo has it in Japan.
Nike’s media agency in the United States is Wieden+Kennedy, a long-time creative partner.
According to sources, the domestic account is worth $300 to $400 million. Nike has amassed a portfolio of digital firms in recent years as its advertising expenditure has switched primarily online. It’s unclear whether these firms were invited to pitch. The focus of the review is on performance marketing.
Nike stopped selling its products on Amazon in November 2019 and is more focused on e-commerce and direct-to-consumer sales.
Nike is known for its dramatic ad campaigns that feature well-known sports personalities and cultural icons while addressing societal issues.
Its Dream Crazy ad, which stars Colin Kaepernick, debuted immediately after the NFL player kneeled during the national anthem to protest the injustice of African-Americans in the United States.
In 2021, the footwear brand’s third-quarter revenue increased by 3% to $10.4 billion.
Follow and connect with us on Facebook, LinkedIn & Twitter
