Delaney Lund Knox Warren & Partners (DLKW) has withdrawn from Pearson’s global creative review of its Financial Times (FT) account. The agency’s decision means it has lost the account, which it has held for 16 years.
DLKW believes that Pearson acted badly in deciding to review as soon as it decided to launch a comeback for the business title. The agency points out that the publisher has spent very little on advertising over a long period of time. It is understood the agency asked Pearson to call off the pitch, and declined to repitch for the business when the publisher refused.
The review itself indicates a renewed commitment to marketing, as reports suggest FT executives have been charged with increasing annual operating profits by 400% to &£10m. Last year, its spend in the UK barely reached &£200,000 (ACNielsen).
A source close to DLKW says: “It is felt the agency has loyally supported the FT for many years, and that a review now isn’t particularly fair.”
A FT spokeswoman says: “DLKW has declined to re-pitch. Sometimes it is right for both parties to part ways amicably and move on.”
The remaining agencies pitching for the account are Miles Calcraft Briginshaw Duffy, DDB London and United London.