PayPal is searching for a new media agency

PayPal is seeking a new global media agency, Ad Age has learned. PayPal confirmed that an RFP process is ongoing. “At PayPal, we are constantly reviewing our practices and agency partners to ensure they meet the needs of our evolving business,” PayPal shared in a statement. “PayPal is entering an exciting new phase, and we are currently exploring what media agency support will best fuel our brand and drive the greatest impact. An RFP to select media companies has been issued.” The financial tech company hired WPP as its global media agency in 2023, but WPP recently resigned the account, the holding company shared in a statement. “Recently, we made the decision to part ways with PayPal to pursue other opportunities,” a WPP spokesman told Ad Age. “We’re proud of the work we have done together over the last 18 months and wish them the best for the future.” PayPal didn’t respond to questions about WPP’s resignation. PayPal Holdings spent $574 million, $364 million, and $518 million in advertising expenses in 2024, 2023 and 2022, respectively, the company previously reported. This includes media spending for its PayPal and Venmo entities. PayPal has gone through several marketing changes in the past few years. In 2024, it hired a new chief marketing officer, Geoff Seeley. Seeley reports to former Verizon CMO Diego Scotti, who was hired as the general manager of PayPal’s consumer group in December 2023. Last year, PayPal selected Publicis Groupe, led by BBH USA, for its creative account and launched the payment brand’s biggest campaign in the U.S., which starred Will Ferrell. Ferrell is back in the company’s latest commercials, singing a PayPal-themed rendition of Fleetwood Mac’s “Go Your Own Way” in an ad released last week. Mark Grether, who built Uber and Amazon’s ad businesses, leads PayPal Ads as senior VP and general manager. In October, PayPal launched PayPal Ads in the U.S. to sell digital ads on its platform informed by consumer transaction data gathered across its properties, which also include Venmo and Honey. The company currently shows display ads on its properties, but plans to launch video ads and offsite advertising opportunities. Earlier this month, it announced the launch of its ad business in the U.K.

PayPal is searching for a new media agency

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