CVS Puts Media Business Into Review
CVS Health is readying a review of its media agency business.
WPP's Mindshare is the incumbent on the media business and is expected to participate, according to a CVS spokeswoman. Pile is supporting the search, which comes a year after the search consultancy helped CVS with a creative agency review that saw the business move from Havas' Arnold to Omnicom's BBDO.
"As a matter of course, CVS Health is evaluating its agency partner for its media business," said the CVS spokeswoman. "We anticipate completing the review this summer."
The Woonsocket, R.I.-based drugstore giant last reviewed its creative- and media-agency business in 2010, ultimately moving the account from Interpublic Group of Cos' Hill Holliday to Arnold and naming WPP's Mindshare its media agency.
Pile and Mindshare declined to comment. CVS didn't immediately respond to a request for comment.
CVS in 2014 spent $84.4 million on measured media in the U.S., according to Kantar Media.
CVS last year said it would stop selling cigarettes and tobacco products in its stores across the U.S. and change its name from CVS Caremark to CVS Health. The decision would cut the company's revenue by about $2 billion, but was widely applauded by the American Cancer Society, the American Medical Association and President Obama.
For the agencies invited to participate, it's one more pitch to add to the busy agenda in the coming months. Unilever, Citi, Coca-Cola, Coty and Visa are among the marketers reviewing their media businesses.
Contributing: Ashley Rodriguez