- Volkwagon Group and BMW have both announced media reviews in the last week, joining the unprecedented amount of companies holding media reviews this year, which AdWeek is calling Mediapalooza 2015.
- Thus far, media reviews for 2015 total more than $8.3 billion in media spending.
- These are some of the brands included in Mediapalooza 2015: Procter & Gamble, Unilever, Coca-Cola, SC Johnson, Visa, L'Oréal, Citi, 21st Century Fox, Wells Fargo, CVS and Royal Caribbean.
With so many brands putting up their media businesses for review, it begs the question, why now? Is the timing just right? Dissatisfaction with their media companies? The list spans several industries worldwide, and the process will likely extend into the fall.
A spokesperson for Interpublic Group's UM, speaking with regard to BMW, told Adweek, "It is a standard BMW process to put all contracts up for review every few years."
Agencies, on the other hand, need to buckle down as there are a good amount of RFPs to tackle.