Hyundai calls $1-billion media pitch
09 Jul 2009
The Hyundai Kia Automotive Group is reviewing its estimated $1-billion global media planning and buying business. Hyundai Kia, which spends £30 million on media in the UK, has informed agencies of plans to have new agency arrangements in place for 2010.
These are likely to involve a consolidation of media for the Hyundai and Kia brands into one network.
Innocean, the in-house marketing services department at Hyundai Kia, is overseeing the review. The Interpublic network Initiative handles the $750 million consolidated US Hyundai Kia business.
OMD, via a special unit called K360 Media, handles the £60 million pan-European Kia media account, including the £17 million UK business.
European media for Hyundai is allocated on a local basis, with Equinox, the Zenith-Optimedia group agency, handling the £13 million UK account.
Sources suggest that Hyundai Kia is keen for holding companies to develop solutions to avoid conflict, such as the one adopted by Omnicom's OMD in forming K360 when it won the Kia business in 2005.