Spanish telecommunications giant Telefonica just awarded its Latin American media planning and buying account to Starcom Media Vest. You are reading it here first.
Portada has known that Starcom will manage media buying and planning operations for Telefonica in the 14 Latin American countries in which Telefonica operates. Starcom will both buy media locally in each Latin American country individually and panregionally.
The Telefonica account is valued at more than $280 million annually. Together with P&G and Unilever, Telefonica is one of the top three advertisers in Latin America.
Telefonica is one of the main competitors, and the largest, in Latin American fixed and mobile telecommunications.
Portada estimates that between 5% to 10% of Telefonica’s budget will be bought on a panregional basis, meaning centralized purchases in two or more Latin American countries, while the vast majority of the budget will be invested locally in local media by Starcom Media Vest’s different Latin American subsidiaries.