In a major development, the media planning account of the Volkswagen Group has moved from WPP's MediaCom to Omnicom Media Group's PHD.
Sources peg the global account to be worth USD 2 billion. This move is applicable across all markets where Volkswagen (VW) is present, including India.
MediaCom was appointed as the Group's agency in 1998. The agency retained the account for 18 years before losing it to PHD in a global pitch that was initiated last year.
Volkswagen Group is a German multinational automotive manufacturing company which manufactures VW, Audi, Seat, and the Skoda. MediaCom was handling the duties for the commercial line of these vehicles in more than 30 countries including the US.