Publicis has won Spotify’s media account after a global pitch.
Publicis Media’s creation of a specialised team, Publicis OneVibe will serve Spotify’s needs and shows their commitment to delivering tailored solutions.
The ‘Power of One’ model, leverages talent from across Publicis Media’s agencies to handle Spotify’s media requirements.
Publicis is set to take over the account —worth almost $245 million, this June. They’ll be responsible for managing both global and regional brand media, as well as supporting performance marketing efforts.
Marc Hazan, vice president of marketing and partnerships at Spotify, said: “As Spotify’s business and ambitions evolve, embracing change is key to our creative edge, as is doing everything we can to connect with an ever-expanding global audience of more than 602 million users in more than 180 markets. We look forward to a new chapter of brand media and performance marketing excellence with Publicis OneVibe,”
The decision highlights the competitive nature of the media industry and the importance of specialised and customised solutions for clients like Spotify.
The decision follows Spotify’s decision to cut 17 per cent of its workforce in December. Daniel Ek, CEO of Spotify stated the significant workforce reduction and business strategy pivot will allow the company to better tackle future challenges.
The cuts happened despite positive financial results during the fourth quarter of 2023 and suggests a strategic shift aimed at optimising operational efficiency.
Ek mentioned that during 2020 and 2021, the company took advantage of lower-cost capital to invest heavily in team expansion, content enhancement, marketing, and exploring new verticals.
