WPP Media wins Mastercard’s global media account from Carat

WPP Media won Mastercard’s $180 million global media account from Carat.

The gain follows WPP Media’s re-entry into the financial services branch. In April of this year, the agency, formerly known as GroupM before its rebrand in late May, resigned its PayPal global media account, which was then picked up by Publicis Groupe.

The win also comes after a turbulent year for WPP, with the holding company losing its hold on the media business of one of its top clients, Coca-Cola North America, also to Publicis Groupe. Additionally, WPP’s Mark Read stepped down as CEO, with Cindy Rose being appointed in his stead. Rose will start on September 1.

In a statement sent by Mastercard to Campaign, the company’s spokesperson said that while WPP Media will lead media strategy, planning and buying as its global media agency, Ogilvy will serve as its community management partner. The statement also confirmed that McCann will remain as Mastercard’s creative agency of record.

“We're expanding the role of our media partnerships to take on a new shape and support more integrated business needs,” the spokesperson continued. “That’s why we’ve made the strategic decision to partner with WPP Media to lead our media strategy, planning and buying across more than 70 international markets.”

The $180 million account win marks the end of a 10-year relationship between Mastercard and Carat. A spokesperson from the Dentsu agency said that the team wishes the fintech company “much success in their continued efforts and future initiatives.”

"The entire Carat team would like to thank Mastercard for the trust and collaboration we have shared,” the spokesperson continued. “We have appreciated the opportunity to work together and value the experiences and achievements from our time as their global media partner.”