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Mastercard shifts global media duties to WPP Media, ending decade-long partnership with Dentsu's Carat
Mastercard is estimated to have spent $180 million globally on media in 2024.
Mastercard has selected WPP Media to handle global media strategy, planning and buying across more than 70 markets, ending a ten-year engagement with incumbent agency Carat. The decision follows a competitive review managed by consultancy R3. The move significantly expands WPP’s footprint within Mastercard’s marketing ecosystem. WPP-owned Ogilvy will now oversee global community management for the financial services company. Ogilvy will take charge of building and managing Mastercard’s online communities, working alongside WPP Media to keep the brand present and engaged across culturally relevant touchpoints. Meanwhile IPG-owned McCann will continue as the creative agency of record.
The win provides WPP Media with a major boost after a challenging year marked by the loss of marquee accounts such as Coca-Cola and Mars, a leadership transition following the departure of Chief Executive Mark Read, and the subsequent appointment of former Microsoft executive Cindy Rose as his successor. It also follows GroupM’s rebrand to WPP Media, part of a broader restructuring aimed at aligning the firm’s media businesses more closely and improving access to centralized technology and data.
For Mastercard, the agency change is positioned as part of a broader effort to recalibrate its marketing and media framework for an AI-driven environment and to drive more integrated business outcomes across channels and regions.
Mastercard is estimated to have spent $180 million globally on media in 2024, according to COMvergence. Overall advertising and marketing expenses reached $815 million last year, down slightly from the prior year, even as the company’s net revenue climbed 12 percent to $28.2 billion.
Carat, which is owned by Dentsu, exits after a decade in charge of the brand’s media duties. WPP, now preparing to manage the account, faces its own headwinds as the holding company has trimmed its revenue forecast and launched a strategic review of its operations.
About the latest win, WPP Media CEO Brian Lesser said, "We’re thrilled to support such an important global brand and critical player in the world’s commerce infrastructure across more than 70 international markets. We’ll be working side by side with the incredible team at Ogilvy to help drive growth and innovation across Mastercard’s business."
He added. This is a landmark win for our company that speaks to the momentum we’re building as WPP Media, the power of our integrated offer, and the value of the investments we’re making to give our clients an advantage in the AI era. We can’t wait to demonstrate what’s possible when you combine one of the world’s most trusted brands with the world’s best media talent and technology."
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Read MoreMastercard shifts global media duties to WPP Media, ending decade-long partnership with Dentsu's Carat
Mastercard is estimated to have spent $180 million globally on media in 2024.