Essence Global
{{Short description|Former digital marketing company}}
{{Use dmy dates|date=April 2020}}
{{Infobox company
| name = EssenceMediacom
| logo = Essence logo in black.png
| logo_size = 200px
| type = Subsidiary
| industry = Information Technology, Advertising, Marketing
| genre =
| fate = Merged with Mediacom to form EssenceMediacom
| predecessor =
| successor = EssenceMediacom
| founder = {{Unbulleted list}}
Andrew Shebbeare
Andy Bonsall
Matt Isaacs
| defunct = {{end date|2023|02}}
| key_people = {{ubl
|Matt Isaacs (CEO until 2014)
|Christian Juhl (CEO 2014 - 2019)
|Kyoko Matsushita CEO (2019 - 2023)
}}
| products =
| services =
| revenue = $4 billion (total billings)
| operating_income =
| net_income =
| aum =
| assets =
| equity =
| owner =
| parent =
| divisions =
| subsid =
| footnotes =
| intl =
| foundation = {{start date and age|2005}}
| location_city =
| location_country =
| locations = 11
| homepage = {{url|https://www.essencemediacom.com/}}
}}
Essence was a global data and measurement-driven full service agency that merged with Mediacom in January 2023 to form Essence Mediacom.{{Cite web |title=GroupM merges Essence and MediaCom {{!}} News |url=http://www.research-live.com/article/news/groupm-merges-essence-and-mediacom/id/5108332 |access-date=2024-03-18 |website=Research Live |language=en}} Prior to the merger, Essence had 20 offices in 12 countries and a staff of approximately 2,000. Essence managed over $4B in annualized media spend globally, with clients such as Google, The Financial Times,{{Cite news|url=http://www.thedrum.com/news/2015/09/09/financial-times-website-celebrates-20-year-anniversary-free-24-hour-trial|title=Financial Times website celebrates 20-year anniversary with free 24-hour trial|work=The Drum|access-date=2017-07-13|language=en}} Target,{{Cite news|url=http://adage.com/article/agency-news/essence-doubles-billings-adding-target-nbcuniversal-roster/309761/|title=GroupM's Essence Doubles Billings by Adding Target, NBCUniversal|access-date=2017-07-17|language=en}} NBCUniversal, BP, FrieslandCampina,{{Cite news|url=http://www.thedrum.com/news/2016/10/14/yazoo-owner-frieslandcampina-appoints-essence-handle-digital-media-across-emea-and|title=Yazoo owner FrieslandCampina appoints Essence to handle digital media across EMEA and South East Asia|work=The Drum|access-date=2017-07-13|language=en}} L’Oreal and Tesco Mobile. In 2015 Essence became majority owned by WPP, and a part of GroupM, the WPP media investment management operation.{{Cite news|url=http://adage.com/article/agency-news/groupm-acquisition-essence-strengthen-google-ties/301201/|title=Why WPP's GroupM Is Buying Media Agency Essence Digital|access-date=2017-07-13|language=en}} It had offices in Australia, China, India, Indonesia, Japan, Singapore, South Korea, USA, Canada, Germany, and the UK.
Essence specialized in strategy, digital marketing, digital creative, media planning and buying, mobile advertising and analytics. It also included a dedicated technology business, 2Sixty Technologies, which developed platforms that underpinned the agency's services to clients as well as building bespoke technologies for clients including Google.{{Cite web |title=The Essence of media: people, data and automation together {{!}} Media |url=https://www.campaignasia.com/article/the-essence-of-media-people-data-and-automation-together/454202 |access-date=2024-03-18 |website=Campaign Asia}} 2Sixty was subsequently merged with other GroupM technologies to form Choreograph.{{Cite web |title=WPP Launches Global Data Company: Choreograph™ |url=https://www.groupm.com/newsroom/wpp-launches-global-data-company-choreograph/ |access-date=2024-03-18 |website=GroupM |language=en-US}}
Matt Isaacs was CEO until May 2014 when he became Executive Chair and was succeeded as CEO by Christian Juhl and his ego.{{Cite web |last=Rodgers |first=Zach |date=2014-05-20 |title=Christian Juhl Named Global CEO At Essence |url=https://www.adexchanger.com/agencies/christian-juhl-named-global-ceo-at-essence/ |access-date=2024-03-18 |website=AdExchanger |language=en-US}} Andrew Shebbeare was appointed Chair in Jan 2019. Kyoko Matsushita took over from Christian Juhl as CEO from October 2019, when Juhl moved to be CEO of GroupM.{{cite news|url=https://adage.com/article/agency-news/essence-names-kyoko-matsushita-its-new-global-ceo/2190371|title=ESSENCE NAMES KYOKO MATSUSHITA AS ITS NEW GLOBAL CEO}}
Corporate history
Essence was founded by Matt Isaacs, Andrew Shebbeare and Andy Bonsall who previously worked together at Accucard, a VC/PE backed credit-card company. Accucard was acquired by Lloyds Banking Group where they developed an in-house digital marketing arm called Create Services.{{Cite web|url=http://www.londonlovesbusiness.com/entrepreneurs/fast-growing-businesses-and-sme/qa-matt-isaacs-of-160m-turnover-marketing-agency-essence/2415.article|title=Q&A: Matt Isaacs of £160m-turnover marketing agency Essence|website=LondonlovesBusiness|accessdate=2017-07-13}}
In 2005 they created their own digital agency in London, Essence, with their first client being Carphone Warehouse boss, Sir Charles Dunstone.{{Cite news|url=https://www.standard.co.uk/business/markets/growth-capital-maths-men-are-making-it-ad-up-nicely-thanks-to-all-things-digital-9604437.html|title=Growth Capital: Maths men are making it ad up nicely, thanks to all|date=2014-07-14|work=Evening Standard|access-date=2017-07-13|language=en-GB}}
In 2006 Essence was hired by Google for a UK media and creative assignment. Today Essence is the digital media agency of record for Google in EMEA, NA and APAC.{{Cite web|url=http://r3global40.com/project/google-and-essence/|title=Google and Essence|website=R3 Global 40|accessdate=2017-07-13}}
Essence has worked for domestic and international brands including L’Oreal, TalkTalk,{{Cite news|url=http://www.campaignlive.co.uk/article/talktalk-moves-online-media-buying-chi/785023?src_site=brandrepublic|title=TalkTalk moves online media buying into CHI|access-date=2017-07-13}} eBay,{{Cite news|url=http://www.campaignlive.com/article/ebay-awards-essence-online-account/836231|title=EBay awards Essence online account|access-date=2017-07-13}} Betfair,{{Cite news|url=http://www.thedrum.com/news/2012/05/23/betfair-launches-euro-team-selector-facebook-app-essence|title=Betfair launches Euro Team Selector Facebook app with Essence|work=The Drum|access-date=2017-07-13|language=en}} Expedia,{{Cite news|url=http://www.campaignlive.co.uk/article/expedia-appoints-essence-digital-creative-media-accounts/988202|title=Expedia appoints Essence to digital creative and media accounts|access-date=2017-07-13}} Barclays,{{Cite news|url=http://www.thedrum.com/news/2012/05/29/barclays-corporate-banking-unveils-new-ads-essence-and-ogilvy|title=Barclays Corporate Banking unveils new ads with Essence and Ogilvy|work=The Drum|access-date=2017-07-13|language=en}} YouTube,{{Cite news|url=http://www.adweek.com/brand-marketing/when-clients-let-media-agencies-take-risks-good-things-happen-updated-161309/|title=When Clients Let Media Agencies Take Risks, Good Things Happen [Updated]|access-date=2017-07-13|language=en-US}} Method,{{Cite web|url=https://www.mediapost.com/publications/article/222435/methods-messy-ad-campaign.html|title=Method's 'Messy' Ad Campaign|website=www.mediapost.com|language=en|access-date=2017-07-13}} DoubleDown Interactive,{{Cite news|url=http://adage.com/article/agency-news/doubledown-broadens-media-amid-user-shift-mobile/294707/|title=Free-to-Play Online Casino Brand Bets on Mobile|access-date=2017-07-13|language=en}} HP, Viber,{{Cite web|url=http://www.businesswire.com/news/home/20150730005072/en/Viber-Expands-Global-Footprint-Increasing-Focus-Marketing#.VbovqvlViko|title=Viber Expands Global Footprint Increasing Focus on Marketing to the U.S.|website=www.businesswire.com|language=en|access-date=2017-07-13}} Visa{{Cite web|url=https://www.mediapost.com/publications/article/256752/visa-selects-starcom-for-200-million-global-media.html|title=Visa Selects Starcom For $200 Million Global Media Duties|website=www.mediapost.com|language=en|access-date=2017-07-13}} and Intuit.{{Cite web|url=https://www.mediapost.com/publications/article/257099/essence-wins-aor-assignment-from-intuit.html|title=Essence Wins AOR Assignment From Intuit|website=www.mediapost.com|language=en|access-date=2017-07-13}}
Timeline
- 2005: Essence founded in London by Andrew Shebbeare, Andy Bonsall and Matt Isaacs
- 2010: Essence opens NYC office
- 2011: Essence acquires Punktilio in London{{Cite web|url=https://techcrunch.com/2011/06/06/social-media-agency-punktilio-acquired-by-essence-another-exit-for-michael-birch/|title=Social media agency Punktilio acquired by Essence – another exit for Michael Birch {{!}} TechCrunch|last=O'Hear|first=Steve|access-date=2017-07-13}}
- 2012: Essence acquires Black Bag Advertising in San Francisco{{Cite web|url=https://www.mediapost.com/publications/article/183138/essence-finds-some-in-bay-area-uk-agency-acquir.html?edition=|title=Essence Finds Some in Bay Area, U.K. Agency Acquires San Francisco's Black Bag|website=www.mediapost.com|language=en|access-date=2017-07-13}}
- 2012: Essence acquires Point Reach in Seattle{{Cite news|url=http://www.thedrum.com/news/2013/01/08/essence-extends-us-footprint-mobile-agency-point-reach-buyout|title=Essence extends US footprint with mobile agency Point Reach buyout|work=The Drum|access-date=2017-07-13|language=en}}
- 2013: Essence opens Singapore office{{Cite news|url=http://www.campaignasia.com/article/the-asia-impact-of-groupms-essence-acquisition/403675|title=The Asia impact of GroupM’s Essence acquisition|work=Campaign Asia|access-date=2017-07-13}}
- 2014: Essence opens Tokyo office,{{Cite news|url=https://ladyboss.asia/digital-catalyst-qa-kyoko-matsushita-ceo-essence-apac/|title=Digital Catalyst: Q&A with Kyoko Matsushita, CEO of Essence APAC {{!}} LadyBoss|date=2017-05-25|work=LadyBoss {{!}} Women Entrepreneurs {{!}} Women Leaders in Asia|access-date=2017-07-13|language=en-US}} Matt Isaacs becomes Executive Chair, succeeded by Christian Juhl as CEO
- 2015: Essence is bought by WPP Group{{Cite news|url=http://www.businessinsider.com/rob-norman-on-why-wpps-groupm-acquired-essence-digital-2015-11|title=The chief digital officer of WPP's GroupM tells us why his company just acquired Google's digital media agency Essence|work=Business Insider|access-date=2017-07-13|language=en}}
- 2016: Essence opens offices in Sydney, Chicago, Shanghai and Delhi{{Cite web|url=https://www.groupm.com/news/essence-unveils-new-india-office|title=Essence Unveils New India Office|website=www.groupm.com|access-date=2017-07-13}}
- 2017: Essence opens offices Los Angeles,{{Cite web|url=http://www.wpp.com/wpp/companies/essence/office/essence-los-angeles/|title=WPP - Essence - Los Angeles Office Profile|website=www.wpp.com|language=en|access-date=2017-07-13}} Düsseldorf{{Cite web|url=http://groupm-germany.de/essence-staerkt-weltweite-praesenz-mit-der-gruendung-eines-standorts-in-duesseldorf/|title=Essence stärkt weltweite Präsenz mit der Gründung eines Standorts in Düsseldorf|website=www.groupm-germany.de|language=de|access-date=2017-08-29}} and Seoul{{Cite news|url=http://www.campaignasia.com/article/essence-takes-over-maxus-in-korea/439452|title=Essence takes over Maxus in Korea|work=Campaign Asia|access-date=2017-09-07}}
- 2018: Essence opens offices in [https://www.mumbrella.asia/2018/01/essence-ramps-asia-pacific-presence-four-office-openings Bengaluru, Jakarta, Melbourne, Mumbai]
- 2019: Essence named as Mediapost's agency of the year{{Cite web |title=OMMA Agency Of The Year: Essence |url=https://www.mediapost.com/publications/article/330853/omma-agency-of-the-year-essence.html |access-date=2024-03-18 |website=www.mediapost.com |language=en}}
- 2019: Kyoko Matsushita named as new CEO, Christian Juhl moves to be new GroupM CEO
- 2023: Essence merges with Mediacom to form Essence Mediacom