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Tuesday, June 25, 2024

IPG, PMG Win Coveted Nike Account Following $1B Review

  • Nike finished its largest global media review in a decade.
  • The company is reportedly splitting its business between IPG Mediabrands' Initiative and PMG.

Nike finished its largest global media review in a decade and is now reportedly splitting its business between two companies — one for domestic business and the other for international.

The estimated $1 billion review covered the Nike and Jordan brands in the company’s major markets. 

According to Campaign US, IPG Mediabrands’ Initiative will cover Nike’s international integrated planning and buying business, and independent agency PMG will take the company’s North American side.

The Swoosh’s domestic account is estimated to be worth $300 million to $400 million. Nike reported $12.2 billion in fourth-quarter revenue.

  • Nike’s media planning for North America was previously handled by Wieden + Kennedy, Nike’s creative agency of record for more than 35 years. Wieden + Kennedy reportedly participated in the pitch. 
  • Along with becoming Nike’s integrated media agency of record for North America, PMG becomes a global digital capabilities partner through which Nike will leverage its technology infrastructure.

Nike’s international account was previously divided between Mindshare and Assembly. Mindshare reportedly pitched to keep the account. 

Other brands that reportedly pitched for the accounts include Dentsu Media, Havas Media, and Omnicom Media Group.

Brand Buddies

IPG Mediabrands won Nike’s Converse brand in 2018, 15 years after Nike acquired it for $315 million. Converse was not up for review as part of the process, which was originally set to wrap up in the spring. 

Final contracts for the review reportedly weren’t signed until late July.

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