Authorization

WarnerMedia cuts thousands of ad agencies as it tries to save $1.5 billion

WarnerMedia cuts thousands of ad agencies as it tries to save $1.5 billion

WarnerMedia CEO Jason Kilar.
Justin Sullivan/Getty Images




WarnerMedia has cut the number of ad agencies it uses from more than 3,000 to a few dozen.




The development is part of the AT&T company's effort to save $1.5 billion by 2022.




It's also pushing its properties like HBO Max, NBCUniversal, and DC Comics to use a handful of agencies.




Visit the Business section of Insider for more stories.


WarnerMedia has slashed the number of ad agencies it uses around the world from more than 3,000 to a few dozen and started pushing its properties like HBO Max, NBCUniversal, and DC Comics to use those agencies to save money, said several people with direct knowledge.These moves have taken place over the past several months and are part of the AT&T media conglomerate's effort to save $1.5 billion by 2022.It's doing that in part by eliminating thousands of jobs and reducing operational costs by around 20% after big drops in revenue from theme parks, movie theaters, and TV advertising during the pandemic. A former WarnerMedia marketing exec told Insider their entire department was eliminated.Meanwhile, WarnerMedia created an agency database to save money by channeling most of its marketing through a handful of agencies that work at a discount.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Апрель 2021    »
ПнВтСрЧтПтСбВс
 1234
567891011
12131415161718
19202122232425
2627282930