The timing couldn’t be worse for WPP as Coca-Cola shifts a significant portion of its U.S. media business to rival Publicis. This move comes just two weeks after WPP reported disappointing revenue figures that sent its share price to a four-year low, despite efforts to reposition the company with AI integration and a revitalized GroupM at its core.
WPP has been Coca-Cola’s global network partner since November 2021, when it won a year-long pitch against Publicis. The comprehensive partnership, valued at $4 billion, gave WPP responsibility for marketing over 200 Coca-Cola brands across 195 countries. The relationship was described as the most extensive marketing partnership in Coca-Cola’s history.
In response, WPP established a dedicated team called Open X, tasked with transforming Coca-Cola’s marketing from primarily analog to 60% digital while creating consistency across markets. The partnership expanded over two years to include commerce, data, technology, and experiential marketing.
Industry sources describe the loss of this account segment—estimated at $700 million—as “a major blow” to both GroupM and WPP. GroupM CEO Brian Lesser was reportedly heavily involved in defending the business, making this his first major pitch failure since assuming the role last July.
Neither Publicis nor WPP has officially commented on the review.
