by Larissa Faw , Yesterday
Mattel is retaining two agency partners following a just-wrapped global review.
Publicis Media's Spark Foundry is the big winner in North America, retaining the toy brand's biggest market — the U.S. — and adding Canada.
The company reported spending $526.4 million (11.7% of net sales) on advertising and promotion in 2018.
UM landed Mattel's media account across Europe, the Middle East and Africa and Asia-Pacific, while also retaining Latin America.
Mattel is currently undergoing a multi-year turnaround as it adjusts to the changing retail landscape and toy trends.
One of the things the company has been doing is "really evaluating the effectiveness of advertising to target its money more effectively," said Mattel CFO Joe Euteneuer during a recent call with investors.
"So when you think about that spend in regards to advertising, you're talking about online content, which includes animated series, influencer programs and product-related videos. All those things new consumers are really watching and trying to make their decision on what to buy,” he added.
He noted the reevaluation is already helping in Europe and North America, and "obviously in Asia, a good portion of what gets sold there is online."