Uber reviews $600m global media agency account
By Joseph Ekeng
Uber, the leading ride-hailing company, has announced that it is looking for a new global media agency to manage its $600 million media budget. The move follows a series of changes at the company, culminating in a shift in focus towards profitability.
According to industry sources, the company submitted a Request for Information (RFI) to a number of agencies in the past month, with responses expected to be reviewed in the coming weeks. The official Request for Proposal (RFP) is set to be released later this month, with presentations scheduled for July and decisions to be made by August.
In the RFI, Uber states that it is seeking a “best-in-class strategic partner who will act as an extension of our internal media & marketing teams.” The company is looking for an agency that can provide global expertise in media planning, buying, and analytics, as well as innovative approaches to digital marketing.
The search for a new media agency comes at a critical time for Uber, which is facing increasing competition from rival ride-hailing services such as Lyft and Didi Chuxing. The company has also faced challenges in some markets due to regulatory issues, and has been working to improve its reputation following a series of scandals involving workplace culture and executive misconduct.
Despite these challenges, Uber remains one of the most successful and innovative companies in the world, with a presence in over 900 cities and a loyal user base of millions of people. The company’s advertising campaigns have been instrumental in driving this success, and the search for a new media agency is a crucial step in maintaining and growing the brand’s visibility and market share.
The bidding process for Uber’s $600 million global media account is expected to be highly competitive, with some of the world’s top agencies expected to participate. The chosen agency will have the opportunity to work with one of the most dynamic and influential companies in the world, and to play a key role in shaping the future of the ride-hailing industry.
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