Carat Fusion loses out
The decision follows a multiagency review that the Rochester, N.Y.-based photographic giant launched in August in an effort to gain cost efficiencies. Agencies invited to participate in the review included incumbents MindShare and Aegis Group's Carat Fusion, as well as other unnamed firms.
The review did not affect Kodak's relationship with WPP's Ogilvy, the company's creative agency of record.
A spokesman for Kodak did not return calls for comment at press time.
Executives at MindShare, Neo@Ogilvy and Carat Fusion declined to comment.
Shift from TV
Kodak has shifted much of its spending from TV advertising to online and event marketing, such as with the Kodak Theater, the Hollywood venue where the Oscars award show is held. In the U.S., Kodak spent $101 million in measured media last year. Of that, $36 million went to TV, according to TNS Media Intelligence. Since 2002, when Kodak spent $204 million, media spending has decreased every year.
Kodak, which marketed its first camera in 1888, has struggled to compete in recent years as film has been supplanted by digital photography. The company stopped manufacturing film cameras in 2004.