What: After losing Telefonica and P&G Digital, Starcom now lost the Coca Cola Mexico business.
Why it matters: Losing Coca Cola Mexico, with an estimated annual media spend of US$ 100 million, adds to Starcom’s rough patch. The fact that Coca Cola Mexico was won by Mediacom who is now led by Fernando Silva, former CEO of Starcom in Mexico shows how personnel changes can impact agency assignments by major brands.
Mediacom has continued its new business streak by adding Coca-Cola’s media business in Mexico. Annual media spending is estimated at U.S. $100 million. The shop, a unit of WPP Group’s GroupM, succeeds Publicis Groupe’s Starcom on the business. Starcom had handled the account for more than a decade. Starcom has been going trough a rough patch as it recently lost the Telefonica and the P&G Digital accounts.
Fernando Silva former CEO of Starcom in Mexico and now regional leader of MediaCom based in Argentina, played an important role in the Coke Mexico pitch, insiders tell Portada.
Mexico remains Coca-Cola’s top consumer market based on per capita consumption
Despite a new tax on beverages with a high-sugar content, Mexico remains Coca-Cola’s top consumer market based on per capita consumption and is the company’s second largest operating region in terms of sales volume. The latest assignment comes a year after MediaCom landed Coke’s media planning and buying account in the U.K., taking over from Dentsu Aegis’ Vizeum.