Mediacom faces £15m UMG review
Universal Music Group (UMG) is understood to be reviewing its £15m media planning and buying account. The account is handled by MediaCom, although it is not clear if it will be involved in the pitch.
Universal Music Group (UMG) is understood to be reviewing its &£15m media planning and buying account. The account is handled by MediaCom, although it is not clear if it will be involved in the pitch.
The company, which is owned by French conglomerate Vivendi, claims to have had a worldwide market share of more than 25% of music industry sales in 2005. Its portfolio of artists includes U2, 50 Cent and Girls Aloud.
The review comes weeks after rival Warner Music also called a review of its &£18m media account, which is being handled by the AAR. A shortlist of agencies for the Warner account is in the process of being drawn up, and incumbent MCS has been invited to repitch. A result is expected at the end of September.
Warner Music is currently fighting a bid and counter-bid battle with EMI Group. Last month, the two companies each rejected a &£2.5bn approach from the other. The battle between the pair is the latest in a string of attempts to unite the two companies in the hope that market leaders Universal and Sony BMG can be seriously challenged.
