Iconic candy company Hershey’s is launching a U.S. media agency review, the firm announced today.
The company recorded advertising expenses of $513 million last year, according to its latest annual report. The U.S. media portion was not broken out.
The review will be by invitation-only and incumbent agencies, including UM, which handles most of the business. are being invited to participate. Media consultant ID Comms has been retained to assist with the review process.
The review will include an evaluation of all paid media, including traditional, digital, social, programmatic and retail, for Hershey's U.S. candy, mint and gum (CMG) business.
"With the evolution of media and transformation to an omnichannel world, we want our chosen partners to add to our strong internal skills and continue to ensure that our media investment remains an engine for growth," stated Charlie Chappell, head of media, The Hershey Company.
The company, which posted revenues of $8 billion in 2019, said it expected the media review to be completed in the second quarter of next year.