Dive Brief:
- Dentsu Aegis’ Carat has received the nod to run food and beverage conglomerate Mondelez International's global communications and its media for North America, Europe, and Asia Pacific, according to AdAge.
- Carat will split Mondelez's media business with SMG, which will handle media for Eastern Europe, the Middle East, Africa, and Latin America.
- The decision was made after a review process and the new roles will go into effect in 2016.
Dive Insight:
For many agencies, this has been the year of "reviewageddon." About $26 billion in ad spending has been subject to reviews in 2015, according to Morgan Stanley — a figure that's higher than the last three years of account reviews combined. While not every review ends with a change in agency, they have put many agencies under pressure to deliver for their brands, Bloomberg Intelligence media analyst Paul Sweeney told Fortune. In other words, the review process has been used as leverage of sorts for many of the big brands putting their accounts up for review.
Mondelez, the food and beverage conglomerate that's most famous for making snack products like Oreos, is no different. After putting its accounts up for review in June, the company aimed to streamline its media businesses.
Mondelez said the moves would help it cut costs by over 10% — savings that the company plans to reinvest for growth. The company recently announced it will increase ad spending from 8% of revenue to 10% by 2018. Mondelez also aims to growing its e-commerce business from $100 million today to $1 billion by 2020.