Stockland launches media buying review
SYDNEY, Australia: Property group Stockland is reviewing its $6m media buying business, with a number of unnamed agencies selected to take part in a competitive pitch. Incumbent Universal McCann is part of the shortlist of agencies that will go head-to-head for the account which spans group-wide media buying, but excludes media planning.
Stockland did not reveal the number or name of agencies involved in the shortlist. The property group includes categories in home and apartment residential, shopping centres and retirement living. “I think you’ll find the pitch will span group-wide media buying,” a Stockland spokesman told B&T. The process is scheduled to be complete by the first quarter of this financial year with an appointment expected then.
Stockland consolidated its media buying business nationally with UM in 2007 and has not undertaken a review of the business since then. Stockland’s main media spend was $6m for April 2010 to March this year, and $6.7m in the year before according to Nielsen figures. UM CEO Matt Baxter declined to comment on the review process. Advertising arrangements will not be affected by the review. SapientNitro handles the creative duties for Stockland Commercial Property. Search marketing company Outrider handles the digital strategy.