Uber Initiates Worldwide Media Agency Overhaul, Valuing Its Advertising Budget at $600 Million
Rewritten Article:
Uber is taking a hard look at its global media game, and Adweek's got the scoop.
The ride-hailing titan sent out aRequest for Information (RFI) to a slew of agencies late last month. However, the responding agencies are still in the dark about the official Request for Proposal (RFP). But, sources close to the situation tell Adweek that it's likely to roll out later this month, followed by presentations in July and final decisions by August. That's right, August! A copy of the RFI confirms Uber's hunt for a top-notch media partner to join forces with their internal teams.
This strategic partner will handle media strategy, planning, and buying duties for the brand, working seamlessly as an extension of Uber's in-house geniuses.
Now, you might be wondering who's in the running for this coveted gig. Unfortunately, there's no public list naming the contenders. However, let's dive into some context.
Uber's media team operates as internal experts and strategic partners, driving data-backed strategies and media innovation to ensure their ad dollars count. The advertising side of Uber is booming, with ad revenue clocking in at a $1.5 billion annual run-rate. That's a big chunk of change, making it prime territory for media agencies fitting the bill.
The ad world is dominated by major holding companies such as WPP, Omnicom, Publicis Groupe, Havas, Interpublic, and Dentsu. Agencies under these groups are common players in the race for big global accounts. But, specific players and timelines for Uber's media account selection have yet to be disclosed.
Stay tuned for more updates as the game unfolds!
- The media partner selected by Uber might come from the pool of major holding companies in the business world, including WPP, Omnicom, Publicis Groupe, Havas, Interpublic, and Dentsu, which often compete for high-profile, global accounts in the field of technology.
- The collaboration between Uber and their chosen media partner will extend beyond mere business relationships, with the partner handling media strategy, planning, and buying duties, and working closely with Uber's internal teams to drive innovation in advertising, a sector that has been flourishing for Uber, generating an annual run-rate of $1.5 billion.
