Spotify's Global Media Review: Publicis Groupe Leads Shortlist?

Spotify India is on the verge of revealing the outcome of its global media review, with Publicis Groupe and Omnicom Media Group reportedly shortlisted. While some industry sources indicate that Publicis Groupe has been chosen, others suggest the final decision is pending confirmation. Spotify, however, has not officially announced any decision yet, according to a company spokesperson.

IPG, which managed the account for six years, is confirmed to be out of the running as the agency has received a letter of regret from Spotify. The estimated value of Spotify's India business is between Rs 150 crore to Rs 200 crore, and its global ad budget is reported to be around $240 million.

The media review was initiated by Spotify in November 2023, marking one of the significant global pitches of the year, with major agencies competing for the account, as reported earlier by e4m. Spotify, a multi-billion-dollar Swedish music streaming company, is predominantly owned by its founders, Daniel Ek and Martin Lorentzon.