MetLife confirmed today that it has named GroupM's MediaCom as its new media agency effective Jan.1, 2018.
Word of the initial selection broke in September, although neither party would confirm at the time, an indication that details of the contractual agreement defining the relationship were still being worked out.
According to RECMA, the insurer spent approximately $57 million on ads in 2016, although it’s believed the firm’s ad expenditures are increasing to between $70 million and $75 million annually going forward.
Wavemaker predecessor agency MEC (like Mediacom, part of GroupM) and Dentsu Aegis' Merkle were the incumbents on the business.
“As we continue to transform marketing at MetLife, it is important that we have a partner who can drive a holistic and strategic view of all media, continue to challenge and push our thinking to new levels and make an impact across all our lines of business,” stated Hugh Dineen, senior vice president and U.S. Chief Marketing Officer at MetLife. MediaCom, he added, aligns nicely with the firm's needs.