Media giant 21st Century Fox (21CF) is reviewing its global media buying and planning business across its film, TV and home entertainment groups, the company confirmed today. Those assets include the Fox film studio, Fox Broadcasting, Fox News, the FX Networks, National Geographic Channel, the regional Fox Sports networks, among other properties.
Globally the company spends more than $1 billion annually on ads. In the U.S. last year it spent $770 million in measured media according to Kantar.
Incumbents include Zenith Media, part of Publicis Groupe, which handles the bulk of the client’s domestic business, and Dentsu Aegis Network’s Vizeum, which handles most of the international portion of the account.
A 21st Century rep confirmed the review, commenting that “We are getting great service from all of our current agency partners so this review is not about performance or cost. The rules of consumer engagement in our business are shifting quickly and dramatically. After more than ten years since our last Company-wide global review, we are going through this process to ensure we have the right agency partners who are best equipped to work with us to reimagine the future of marketing for 21st Century Fox’s leading brands.”
MediaLink has been retained by 21CF (spun off from News Corp. in 2013) to assist with the review process.
21CF sent a letter this morning to the major ad marketing holding companies advising them of the pitch with an invitation to participate. Those companies include WPP, Interpublic, Publicis Groupe, Omnicom, Dentsu and Havas. The letter was sent from the three senior 21CF executives that will oversee the pitch internally including Randy Freer, President & Chief Operating Officer, Fox Networks Group; Tomas Jegeus, Co-President, Worldwide Theatrical Marketing & Distribution, 20th Century Fox, and Mary Daily President/CMO, Worldwide Marketing, 20th Century Fox Home Entertainment.
In addition to media planning and buying, the scope of the assignment also includes search and social.