Young & Rubicam loses Dr. Pepper - Martin Sorrell eats his words
Young & Rubicam has lost the Dr. Pepper account after having it for almost 40 years.
It’s going to Deutsch LA. Young & Rubicam San Francisco will keep Diet Dr. Pepper and several other sub-brands.
It’s a stunning loss after 40 years… and not only that … the new Agency, Deutsch LA will be working with a much lower budget than Young & Rubicam did. Ad spending on the brand was $35 million last year, down from $45 million in 2006… way down… but 10 million bucks..
Welcome to the recession people… and we were told that it’s not a problem until 2009 …. Martin Sorrell, CEO of advertising agency holding company, WPP Group, said the summer Olympics, presidential election, and European soccer championships mean a healthy advertising year in 2008. “”�08 is not the issue;”� he told Ad Age, “”�09 is.
Sorry Martin, your problems start in 2008… you think that this problem is limited to your 45 million dollar loss of Dr. Pepper?
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