iProspect Wins eBay’s Global Media Account

eBay has selected iProspect, a Dentsu company, as its new worldwide media agency after launching a competitive review in April of this year. The Australian market was included in the review, with EssenceMediacom, iProspect, and Havas all competing. iProspect has won business in seven markets spread across three regions: the United States, Canada, the United Kingdom, Germany, France, Italy, and Australia. Prior to 2019, EssenceMediacom oversaw eBay’s media account management.

EssenceMediacom was the incumbent agency

The eCommerce website began merging its international media account in 2014 and renaming it EssenceMediacom under GroupM’s Mediacom. Mediacom lost eBay’s US account to Blue 449 (now Spark Foundry) in 2016 but reclaimed the global media account in 2019.

The change, which will also affect the Australian market, is part of the multinational e-commerce giant’s effort to achieve global efficiencies by moving away from a decentralized, market-based model and toward a more centralized one. According to sources, an eBay spokesperson stated that iProspect was chosen due to their “passion for the eBay brand and their strong operating model.” The representative added that the iProspect team in Australia was instrumental in the review process.

Read More: WPP and Omnicom Secure Amazon’s Multi-Billion Dollar Media Account 

GroupM’s string of account losses this year

This is GroupM’s most recent account loss in a string of them. EssenceMediacom X lost its media responsibilities for L’Oréal UK and Ireland in May of this year, and subsequently Sainsbury’s digital media responsibilities. EssenceMediacom UK lost the Sky European media account in August.

eBay is expected to spend over $350 million on media in 2024; iProspect will handle approximately half of this, with the remaining portion being handled internally as performance marketing expenditures, according to COMvergence. eBay’s yearly sales and marketing expenditures came to $2.2 billion in FY23, with a $13 million increase in advertising and marketing expenses. The e-commerce platform’s net revenues increased by 3% to $10.1 billion.

Read More: Team Pumpkin Bags the Social Media Mandate for Kotak Securities

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About Netra

Netra is a Dual Masters graduate in International Business and Marketing. She is a content-writing enthusiast and a social media addict. In her downtime, you will find her headbanging to Pop songs from around the world. She is also a sports fanatic and especially loves F1, Volleyball, and Cricket. Her hobbies are baking and watching Anime.

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