A major marketer has unexpecttedly moved its $700 million media account to a new media agency, Advertising Age reports.
The marketer, Home Depot, moved the account from Initiative Media to Carat, the report says, adding, "The sudden move, which some attributed to a growing rift between marketer and agency in recent months, comes as a blow to Initiative, though the search marketing and newspaper portions of the account will remain in the Interpublic/Mediabrands fold at Reprise Media and NSA Media, respectively."
Home Depot last reveiwed the account about a year and a half ago, and Initiative retained the account at that time. Carat had taken part in that review.
The story notes that Home Depot has been with an Interpublic media shop for almost 18 years.
The article also explains that "For Carat, this is the second massive account it has added to its roster in less than a month. In late December the agency retained the $1.2 billion Pfizer account after a competitive review. That win capped a huge year for the agency, which brought in Red Bull’s $54 million U.S. media planning and buying assignment, Diageo’s $130 million U.S. media account and the U.S. assignment for Relativity Media, producer of movies "The Social Network" and "Catfish." The shop also picked up the $100 million Beiresdorf planning and buying account and the $85 million Smucker’s account earlier in the year."