LG Electronics USA has tapped Horizon Media as its agency of record for communications planning and paid media across the company's three main U.S. divisions of home appliances, home entertainment and mobile phones.
The agency won the business following a competitive review involving at least five shops, including incumbent Mindshare, according to people with knowledge of the matter, who estimated LG's media budget for this year in the $250 million to $300 million range.
Representatives from Mindshare were not immediately available for comment.
Horizon Media President-CEO Bill Koenigsberg told Ad Age that the internally led review was "very thoughtful" and "comprehensive," allowing the teams to get to know each other from a culture and expectation standpoint.
Mr. Koenigsberg said that LG Electronics USA is up against some "some huge category killers," which is why Horizon plans to focus on emotional drivers that will push people toward consideration of the company's brands. Horizon will also leverage its data and analytics capabilities to help LG Electronics further connect with consumers.
"LG is committed to delivering 'Innovation for a Better Life' to consumers around the world," said David VanderWaal, VP-marketing at LG Electronics USA, in a statement. "Horizon has demonstrated a deep understanding of our consumer segments in the U.S. and has the innovative thinking to help us engage with the right audience and bring the LG experience to life."
The company declined to comment beyond the provided statement about its new relationship with Horizon.
In 2015, LG Electronics spent $414.8 million on total U.S. advertising, and its measured media spending came in at $160.3 million, according to Ad Age's 200 Leading National Advertisers' 2016 edition.