Digital and data firm Essence, has merged with its media agency MediaCom to create a new outfit.
EssenceMediacom becomes GroupM’s newest and largest agency and will be looking to disrupt the old models across media, creative, innovation and analytics.
In a statement issued following the merger, the new outfit said the move was aimed at finding new opportunities and delivering truly integrated media solutions.
The move comes at a time players in the media space are increasingly embracing mergers and acquisitions to remain profitable.
Comprised of 10,000 people across 120 offices globally and led by Global CEO Nick Lawson, EssenceMediacom said it combines Essence’s performance, data, analytics and creative technology with MediaCom’s scaled multichannel audience planning and strategic media expertise.
“Together, and with analytics, data and technology at our heart, I have no doubt we will deliver breakthroughs across our entire client base,” Said Nick Lawson, EssenceMediacom’s Global CEO
Mergers, acquisitions, and partnerships are likely to characterise the media industry in 2023, as the sector tries to cut costs and bundle value in new ways.
EssenceMediacom Sub-Saharan Africa Managing Partner Marion Wanyoike said through the merger all markets from Kenya to the UK will get world-class support to standardise their work, engagement and structure operations.
“It means more opportunities for my team as we begin the journey of upscaling resources to build stronger data, tech and leadership capability. Not only is this a rare skill-set, it is also high in demand and scarce on the continent,” said Wanyoike.
She said following the deal, EssenceMediacom will have to reset the relationship for its local clients, creating a chance to address the current unmet attribution needs in the market.
The agency launches with The Coca-Cola Company, P&G, Godrej, KCB, Jumia, Isuzu and Google as part of its clientele.
EssenceMediacom it will have access to the richest data, most robust benchmarks and most advanced capabilities in the market.
"Alongside Mindshare, Wavemaker and GroupM Digital, the launch of EssenceMediacom delivers the solutions and thinking needed by every brand and marketer seeking to grow their business in the new communications economy," it said.
