MUMBAI: Publicis Groupe has pinched Coca-Cola's lucrative North American media account from WPP following a hush-hush competitive review, industry sources confirmed yesterday.

The French advertising giant will now handle Coca-Cola's media planning and buying across the United States and Canada, with the business estimated to be worth a fizzy  $800 million  in annual billings.

The soft drinks behemoth conducted the review under tight wraps, with only WPP and Publicis invited to participate in what insiders describe as a "closed door beauty contest" between the two holding companies.

For Publicis, the win represents sweet revenge after finishing as runner-up in 2021 when WPP scooped Coca-Cola's global integrated business. Now, just three and a half years later, the tables have turned in North America.

The account covers media planning and buying for Coca-Cola's extensive portfolio of over 200 brands, including its flagship cola, Sprite, Fanta, and various sports drinks, juices, and plant-based beverages.
Despite the sting of losing North America, WPP will continue to serve as Coca-Cola's primary global partner, handling media duties across the rest of the world and maintaining responsibility for creative work globally through its bespoke Open X agency setup.

Coca-Cola spent an estimated $1.8 billion on US advertising in 2023, according to Ad Age Datacenter, with $621 million specifically on measured media. Globally, the beverage giant splashed out $5.15 billion on advertising in 2024, up from  $5 billion the previous year.

In a statement crafted to soothe WPP's bruised ego, Coca-Cola emphasised that "WPP is the only global marketing partner of The Coca-Cola Co," describing Publicis merely as a "complementary partner for its US and Canada media business."

"The Coca-Cola Co is committed to the ongoing transformation of its marketing model to ensure the company is best positioned to connect with the evolving consumer marketplace around the world," the statement continued, adding that "no other changes are expected, and Coca-Cola is in an advanced stage in the process of renewing its global partnership with WPP."

 Coca-Cola globall chief market ing officer  Manolo Arroyoa,praised WPP's contribution, highlighting achievements including "Coke being named Creative Brand of the Year at the Cannes Lions in 2024."

The Coca-Cola win continues Publicis' remarkable run of form in the media pitch circuit, coming hot on the heels of major account victories with Pfizer and Hershey's. This stellar performance prompted the holding company to upgrade its earnings guidance twice during 2024.

Last year, Publicis overtook WPP as the world's largest agency group by revenue, marking a dramatic shift in the industry's power balance. The addition of Coca-Cola's North American media business will only cement that position.

The handover is expected to take place in the coming months.