PHD regains £3m media business for Economist

LONDON - Omnicom's PHD has regained The Economist's £3m media business, following a closed review process against specialist incumbent agencies TCS, Kinetic and Paul Gummer Associates.

PHD regains £3m media business for Economist
PHD regains £3m media business for Economist

The agency will again be responsible for the news weekly's brand planning and buying for on and offline media, working alongside creative agency AMV BBDO, which has serviced the business for more than 20 years.

The move consolidates The Economist's global media requirements, with PHD already handling the account in the US. PHD last held the brief in 2006 and is expected to still use Kinetic for outdoor.

According to ABC data for the six months to December 2008, The Economist bucked the general malaise in the print marketplace, to post a 2.4% lift in circulation in the second half, to 186,995. Despite the advertising recession, the title more than doubled its media spend in 2008, fuelled by proprietary research that showed today's young adults are more interested in the world around them.

According to The Nielsen Company, The Economist spent £2.6m on media in 2008, up from just £1.1m in 2007. This investment is expected to continue as the title looks to increase its annual subscriptions and news-stand sales.

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