NEW YORK (AdAge.com) -- Energy drink marketer Red Bull is close to wrapping a review for its $50 million U.S. media planning and buying account, according to executives familiar with the situation.
Independent shop Siltanen & Partners has managed the business for the past year. Industry executives said Siltanen, along with Aegis Group's Carat, WPP's MediaCom and Publicis Groupe's Optimedia are competing for the business. The agencies could either not be reached for comment or referred calls to the client.
In an e-mail the company said it did not "have a comment to share." Select Resources International is handling the review.
Red Bull spent nearly $54 million in domestic measured media in 2009, according to Kantar Media. The company's line of products includes Red Bull Energy Drink, Red Bull Energy Shots and Red Bull Cola.
The company sponsors athletes from a variety of sports including extreme sport athlete and Olympic gold medal snowboarder Shaun White, Jimmy Rollins from Major League Baseball's Philadelphia Phillies and professional golfer Camilo Villegas. It also sponsors events such as the Red Bull Rivals surfing event, Red Bull Flugtag and the Red Bull Spiked beach volleyball tournament.
As the leader of the nearly $3 billion energy-drink category, Red Bull controls 35% of the market from a dollar perspective. A report released earlier this month from market research firm Mintel shows that despite a dramatic 136% increase in sales from 2005 to 2009, the energy drink/shot category is having trouble bringing in new consumers. The Mintel report found that 74% of those surveyed said they don't consume energy drinks/shots while 69% said they don't have any interest in even trying them.