Initiative Media has scooped one of the most sought-after media buying accounts in the region after securing the business for Etisalat. The pitch win gives them sole responsibility for the telecom giant’s three major markets of the UAE, Saudi Arabia and Egypt.
Etisalat put the consolidated account out to tender last month, inviting bids from the region’s biggest media players.
Historically its business has been divided on a market-by-market basis, with Initiative handling Egypt, OMD Saudi Arabia and Mediaedge:cia the UAE.
Oussama Jamal, media chief operating officer at MCN, Initiative’s parent company, said he was proud of the win but could not comment fully until a statement had been issued by Etisalat. “We have received the award letter from Etisalat and are extremely honoured,” said Jamal. “We wouldn’t like to comment any further as Etisalat will be issuing a full press release soon.”
Last month Etisalat announced a first quarter profit of Dhs2.18 million, a four percent increase on the same period last year.