Hershey To Review U.S. Media Roster

Rhea-AI Summary

The Hershey Company (NYSE: HSY) announced a formal review of its U.S. media agency for its candy, mint, and gum business, excluding Amplify Foods and international markets. This evaluation aims to identify partners that can enhance Hershey's internal media capabilities in the evolving media landscape. The review is invitation-only for incumbent agencies, with a decision expected in Q2 2021. The company seeks to ensure its media investments drive growth as it adapts to an omnichannel environment.

Positive

• Initiating a media agency review could enhance advertising efficiency and effectiveness.
• Focuses on improving partnerships in a rapidly changing media landscape.

Negative

• None.

HERSHEY, Pa., Nov. 2, 2020 /PRNewswire/ -- The Hershey Company (NYSE: HSY) will initiate a formal agency review for the company's U.S. media across its iconic confectionery brands.  The agency review will be by invitation-only and all incumbent agencies are invited to participate in the process.

The review will include an evaluation of all paid media, including linear, digital, social, programmatic and retailer, for Hershey's U.S. candy, mint and gum (CMG) business.  This review will not include media for Hershey-owned Amplify Foods and ONE brands or Hershey's international markets.  

As the world and media industry are in the midst of significant and rapid changes, this review will allow Hershey to continue to invest across all media channels while looking for the best partners who will complement and enhance Hershey's internal media capabilities.  

"With the evolution of media and transformation to an omnichannel world, we want our chosen partners to add to our strong internal skills and continue to ensure that our media investment remains an engine for growth," said Charlie Chappell, head of media, The Hershey Company.

Hershey is being advised by media consultancy, ID Comms. A final decision is expected in Q2 2021.

About The Hershey Company
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed.  Hershey has approximately 16,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 80 brands around the world that drive $8 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Kit Kat, Jolly Rancher, Ice Breakers, SkinnyPop and Pirate's Booty.

For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably.  Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed.

To learn more visit www.thehersheycompany.com

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SOURCE The Hershey Company

FAQ

What is the purpose of Hershey's media agency review?

Hershey's media agency review aims to identify partners that enhance its internal media capabilities and ensure advertising effectiveness in a shifting media landscape.

When is the final decision expected for the Hershey media review?

The final decision for Hershey's media review is expected in Q2 2021.

What areas are excluded from Hershey's media agency review?

The media agency review excludes Hershey-owned Amplify Foods, ONE brands, and international markets.

Which brands are included in Hershey's media review?

The review includes Hershey's U.S. candy, mint, and gum brands.

Who is advising Hershey on the media agency review?

Hershey is being advised by media consultancy ID Comms for the agency review.