Text 丨Amy Ma
According to BUSINESS WIRE, on November 8, Coca-Cola announced that WPP has become a global marketing network partner, playing a key role in implementing the new marketing model.
In response, WPP CEO Mark Read said in an email that WPP will handle media and most of the creative work in 8 of Coca-Cola's 9 regional operations.
At the same time, Coca-Cola also announced that Dentsu will be a complementary media partner and will be responsible for regional markets such as Japan and South Korea; Publicis will be responsible for the brand's related projects; and IPG's agencies, such as McCann and Mercado, will continue to be Coca-Cola's core partners.
On October 27, Coca-Cola released its third quarter 2021 financial report. According to the financial report, Coca-Cola's revenue was $10.042 billion, up 16% year-on-year, higher than the market expectation of $9.752 billion; operating profit was $2.898 billion, up 26% year-on-year; net profit was $2.475 billion, up 42% year-on-year.
According to the earnings report, the significant increase in marketing and advertising spending will be a major factor that cannot be ignored to promote the comeback of Coca-Cola's performance.
Coca-Cola CEO James Quincey said on a conference call that Coca-Cola's marketing revenue in 2021 will be much higher than in 2020 as marketing spending returns to 2019 levels. The fourth quarter is expected to continue to raise consumer-facing marketing spending to similar levels as in 2019, while improving the quality of spending and allocating spend in a more targeted manner.
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The sixth "Morketing Summit 2021 Lingyan Awards" will be held soon, and senior executives of Brands such as Procter & Gamble, Huge Engine, Tencent Advertising, Jaguar Land Rover, and Haier Group have confirmed their attendance