South Korea-based consumer electronics giant LG confirmed today earlier reports that it is conducting a multimarket media agency review.
“Without going into too much detail, we are currently in the process of reviewing our media processes across various markets,” a company rep wrote in an email response to a query about the review. “This is a very internal review and is in no way a reflection of our current partner’s performance. This is common practice at LG.”
As reported earlier, Mindshare is the incumbent on the LG media assignment, and it’s understood that the WPP media shop is defending its assignment. It won the company’s consolidated global media account after a 2007 review. The agency declined to comment, referring calls to the client.
The company spent an estimated $400 million on ads in 2011. In the U.S., LG spent just over $75 million according to reserach firm Kantar.