IPG Mediabrands Secures Volvo's Global Media Account

Volvo has made a significant change to its media agency partnerships for the first time in close to 25 years, awarding the global media account (excluding China) to Initiative, part of IPG Mediabrands. This decision marks the end of a decades-long relationship with WPP’s Mindshare, the incumbent agency.

According to COMvergence, Volvo’s estimated annual media spend stands at approximately $500 million.

“Excited to welcome Volvo to our family," Eileen Kiernan Global CEO at IPG Mediabrands said on professional social networking platform LinkedIn.

As first reported by AdWeek, Volvo has entrusted IPG Mediabrands, with its media account across all markets outside of China, including key regions such as the U.S., U.K., Germany, Sweden, Japan, Australia, and Korea. The partnership is set to commence in 2025 following a brief transition period.

“We regularly evaluate our agency model and operations to ensure we are equipped with the right technologies, agility, and efficiency. We have appointed Initiative, powered by IPG, to lead our media strategy, planning, and buying in all regions with the exception of China. Together, we will build on the strong foundation of our brand, delivering a seamless, premium and integrated experience for our consumers worldwide,” AdWeek quoted a Volvo spokesperson “

The review for the automaker's global media planning and buying business began in August, managed by MediaSense.

This announcement comes just weeks after Omnicom and The Interpublic Group of Companies revealed that their Boards of Directors had unanimously approved a definitive stock-for-stock merger agreement.

As per the agreement, Interpublic shareholders will receive 0.344 Omnicom shares for each Interpublic share they hold. Upon completion of the transaction, Omnicom shareholders will hold a 60.6 per cent stake in the combined entity, while Interpublic shareholders will own 39.4 per cent on a fully diluted basis. The merger is projected to deliver annual cost synergies of $750 million.