Havas and Horizon Media have launched a joint venture that will unite the media operations of both holding companies.
Headquartered in New York, Horizon Global is a joint venture with combined global media billings of $20 billion and operations in around 100 countries.
It will focus on US-based clients with a global footprint and hopes that Havas Media’s international network will provide it with more heft abroad.
The benefits for Havas Media will arrive if Horizon Global is successful in attracting multinational clients with profits being split between Havas and Horizon.
Horizon Global will be led by Horizon Media Holdings president Bob Lord on an interim basis until a permanent leader is found.
Renata Spackova, Havas global chief operating officer of new core business, has been appointed global chief operating officer Horizon Global. She will lead the “strategic deployment” of Horizon Global across more than 100 global markets.
Horizon Global arrives ahead of Omnicom’s acquisition of IPG Mediabrands, which was rubber stamped by the US Federal Trade Commission this week. The consolidation could lead to client conflicts and large global media accounts going to market.
Dentsu has also recently floated the idea of selling its international agency network.
Havas and Horizon Media hope that combining the buying power of the two holding companies will allow it to compete in large global pitches, and provide the market with another viable option outside of the soon to be ‘Big Three’—WPP, Publicis Groupe and Omnicom.
Horizon Global’s $20 billion in media billings still places it towards the lower end of the holdco scale, behind WPP ($64.6 billion in billings), Publicis ($54.7 billion), Omnicom ($45.6 billion), Dentsu ($28.0 billion) and IPG ($27.8 billion).
What does it mean for Australia?
B&T understands that Horizon Global’s day-to-day impact on the Aussie market will be limited. But if Horizon Media succeeds in attracting new multinationals, it could bring work to Havas Media’s Australian business.
Aside from Horizon Global clients, Horizon Media and Havas Media will operate independently, with separate client portfolios, brand profiles and new business pitches.
There may also be some benefits in sharing technology and data tools between the two; Horizon Global is merging Horizon’s Blu data platform with Havas’ Converged.AI platform to create a single system called BluConverged.
“Horizon Global enters the market at a dynamic moment with a global offering that truly puts clients first. We intentionally designed Horizon Global to usher in a new chapter of connected intelligence, innovation, and client value,” Lord said.
Bill Koenigsberg, the CEO and founder of Horizon Media Holdings, said that Horizon Global is “rewriting the agency network playbook”.
“With an open ecosystem approach, Horizon Global fosters cooperation, prioritises transparency and places power back in the client’s hands,” he said.
“As the first agency network built in the AI era, we’re leading with future‑forward ways of working, collaborating and delivering outcomes for clients – and we’re doing it responsibly at global scale.”
Yannick Bolloré, the CEO and chair of Havas, said the partnership “marks a significant moment for our agencies”.
“In a shifting industry, we look forward to a very exciting partnership, combining our complementary strengths,” he added.
