Aegis Group's Carat will retain the global media account of Philips Electronics, reports AdWeek.
Carat edged out Mediaedge:cia in the final round of the review process to continue work on the account, which it first won in 2001. The review was announced in October. The global account is valued at $600 million. Philips spends about $100 million on U.S. advertising alone.
In the last few years Carat has guided Philips into a number of sole-sponsorship opportunities. Episodes of 60 Minutes, the NBC Nightly News and an issue of Gourmet magazine have all recently been sponsored by Philips alone. The TV shows have as a result been presented with limited commercial breaks.
