GroupM is reshaping its agency operations globally with the merger of its agencies Essence and Mediacom. The WPP-controlled group is calling the new entity, simply to be branded EssenceMediaCom, an expansion of its Essence operation, through the integration of MediaCom.
In a statement, GroupM said the two agencies complement each other strategically, with the digital, creative technology, data-driven performance, and product development capabilities of Essence to be joined by MediaCom’s global scale, client service, and multichannel audience-planning expertise.
In Australia the new agency will be more than 550 people across offices in Brisbane, Melbourne and Sydney, making it one of the largest media agencies in Australia, with more than $1bn in client billings.
Essence CEO Pat Crowley (above) will lead the expanded agency as EssenceMediaCom Australian CEO.
Yaron Farizon, who has been running MediaCom for the past 12 months, will take on a global role in London working on the new EssenceMediaCom brand for some of its biggest global clients. He will work with Pat Crowley and GroupM CEO Aimee Buchanan to ensure a smooth transition over the coming months.
Aimee Buchanan
The merged agencies have partnered in the past on the global clients Google, NBCU and Mars.
GroupM said the move creates greater differentiation across its agencies as EssenceMediaCom, Mindshare and Wavemaker each follow distinct paths to drive growth for their clients.
The GroupM statement included this agency positioning update:
Mindshare is a strategic powerhouse with purpose, focused on delivering good growth, Wavemaker is emerging as the home of Australia’s boldest challenger brands and startups with its mission to provoke growth.
The creation of the newly formed EssenceMediaCom allows us to take the future facing smarts of Essence and scale it with the depth of capability in MediaCom. With an incredible mix of clients, people, and talent, we believe we have the right ingredients to create a very different agency in Australia.
Yaron Farizon
The new entity is expected to be fully operational around the globe by 2023.
Globally, EssenceMediaCom will be led by Nick Lawson, currently the global CEO of MediaCom. Current global CEO of Essence, Kyoko Matsushita, has been promoted to WPP Japan CEO.
See also: GroupM report explores growth of AI and the future of advertising