Vizeum Sydney set to lose 70% of billings
Aegis Media’s fledgling Vizeum Sydney office is set to lose 70 per cent of its annualised billings before the end of the year when it loses its key client pharmaceutical company, Bayer Healthcare, to Mindshare.
Bayer, maker of Berocca and Rennie, is moving its media planning and buying account into the WPP-owned agency following a review of the business in markets including Australia.
Kim Raicevich, Vizeum Sydney managing director, told Mumbrella: “We’ll definitely need to replace those billings which is a sizable chunk of our business. We’re always pitching and this will now give us an opportunity to look into the pharmaceutical area which is good.”
The Sydney office, which opened in the middle of last year has a staff of seven. Raicevich said there would be no staff cuts as a result of the loss of the Bayer business, which is expected to occur at the end of the third quarter.
Lee Stephens, Aegis Media Pacific CEO, added: “We’re not worried about it. We’re involved in lots of pitches.”
The agency is understood to be pitching for the BlueScope Steel media account.
Vizeum Sydney’s clients are Deutsche Bank, Beaute Prestige, Riedel and Pirelli Tyres.
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