Media agencies are a core component
of the advertising business
Media agencies provide planning, buying
and consumer insight advice to their clients and they deliver the
messages created by advertising agencies via paid, owned and earned
media.
Media agencies are part of a tapestry
of organisations that provide communications advice to businesses.
They advise clients where - in which media - to place advertising
to best reach their audience, they negotiate the availability and
cost of the ad space with the media owner, and they then buy that
media space.
In a nutshell, they provide the
planning, insight and buying skills that brands need to make sure
their campaigns are relevant, appealing and cost effective. Media
agencies have rapidly adapted to the changing media landscape,
broadening the range of services they offer. Sponsorship, social
media and search are just a few of the disciplines now offered by
media agencies.
MediaCom is the world's third-largest
media agency network and is part of GroupM, the biggest media
investment management operation globally.
According to independent data from
Recma, MediaCom was responsible for planning and buying media worth
$24.9billion in 2010, making it the third-largest agency network in
the world. As part of GroupM, MediaCom brings global buying power
of some $82.2billion (Recma) to the negotiating table.
GroupM is the largest media investment
management operation in the world, responsible for 29% of global
advertising spend.
Further reading:
Media agencies
Media planning