DECEMBER 2, 2000
Coca-Cola changes advertising agencies
THE main Coca-Cola company has taken on a new advertising agency for 2001 and it is interesting to note that the job has gone to the Interpublic Group, which is involved in motor racing via its ownership of the Brands Hatch racing circuit. In recent months there has been speculation that Coca-Cola might be looking at an involvement in Formula 1 but the stories turned out to be a rather overblown program by a local distributor.
The change of advertising agency could produce different recommendations for the company. Interpuiblic will decide how best Coca-Cola should advertise its products around the world and may conclude that F1 is a good idea after all.
Coca-Cola's global media budget is around $1bn with another $1bn being spend by the companies bottling companies.