Nike Announces $1.4 Billion Account To Be Shared By Initiative And PMG

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Nike’s global media review has ended with the majority of its account, estimated to be worth US$1 billion (AU$1.44 billion), set to be split between Texas-based PMG and IPG Initiative.

The footwear brand announced that PMG would head its domestic North American account, while Initiative will handle Europe, Africa, Asia Pacific and Latin America.

This marks the second major win for Initiative within the brand, having previously taken on the Converse brand globally in 2018. The Converse brand was not up for review in this round of pitching.

The review, which covered both the Nike and Jordan brands globally, is estimated to be worth $1.44 billion, with 30-40 per cent covering the domestic market.

In a statement to CampaignUS, a Nike spokesperson stated that the review was of “agency partners who provide paid media strategy and execution (planning and buying) for brand advertising and performance marketing”.

“This is part of our standard operating procedures to ensure Nike continues to have the best-in-class paid media agency partners around the globe. We thank all our agency partners, especially those with whom we have had long-term relationships, for all the work we have delivered together.”

Prior to this review, the account was handled by Wieden+Kennedy domestically. Wieden+Kennedy were part of the competitive pitch process among several other high-profile agencies, and may retain some business in North America despite not being mentioned in the report.

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