Toy marketing giant Hasbro has just issued an RFP for a consolidation review of its global media agency assignment.
Word of the review comes several months after the Pawtucket, RI-based company added two new senior management posts. In February it elevated company veteran David Hargreaves to the position of executive vice president corporate strategy and business development. At the same time, it appointed another veteran at the firm, Weibe Tinga, to the post of Chief Commercial Officer. Tinga has been tasked with overseeing all of the company’s commercial activities across North America, Europe, Latin America and Asia Pacific.
The global review comes a little more than two years after the company conducted an extensive North American media agency review that was won by Interpublic Group’s Initiative. WPP’s MediaCom had been the long-time incumbent. Publicis Groupe’s Zenith Media and Omnicom’s PHD also participated in that review.
Hasbro spends an estimated $175 million on ads in North America. That figure includes ads to promote the Hub TV Network, the cable network it owns in a joint venture with Discovery Communications. Total global ad spending for the company was not immediately available.
In addition to its toy business the company produces TV programing through its Los Angeles-based Hasbro Studios both for the Hub and for 170 markets around the world.
Initiative declined to comment on the review, referring questions to Hasbro. A Hasbro official did not immediately respond to a call asking for comment.
According to sources, the RFP was issued last week and responses are due in August.