Coca-Cola reportedly shortlists WPP and Publicis in U.S. media review

Coca-Cola has selected WPP and Publicis Groupe as the final contenders in its review of U.S. media operations, according to reports.

WPP has managed the account since 2021, when it won Coca-Cola’s global business and created Open X, a dedicated team overseeing the company’s $4 billion marketing portfolio. Publicis was the runner-up in that review. As part of the arrangement, WPP handled Coca-Cola’s media, creative, and production services across 200+ countries.

At the time, Coca-Cola also brought in Dentsu to provide specialised media support in select Asian markets. Additionally, the company established an “open-source strategic roster,” assigning one-third of its marketing work to agencies such as Publicis and IPG.

The review comes at a challenging time for WPP, which recently fell short of analyst expectations in its February earnings report and forecasted a revenue decline of up to 2% for 2025. According to the report, CEO Mark Read remains optimistic about a turnaround, emphasising plans to strengthen GroupM, WPP’s media investment arm.

Meanwhile, Coca-Cola continues to grow, reporting $47.1 billion in net revenue for 2024, a 3% increase from the previous year. The company expects organic revenue growth of 5% to 6% in 2025.

During a February earnings call, Coca-Cola CEO James Quincey highlighted the success of the company’s marketing efforts, noting that retail sales of Coca-Cola products have increased by $40 billion over the past three years.