Walmart is looking for a new ad agency

Hi and welcome to Insider Advertising for March 1. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:

• Walmart hunts for a new ad agency.
• Beyond Meat’s deal with McDonald’s.
• Netflix’s diversity study.

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Tips, comments, suggestions? Drop me a line at [email protected] or on Twitter at @LaurenJohnson.

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Walmart will shop around for an agency to handle its US media business, one of the ad industry’s biggest prizes

• Patrick Coffee and Claire Atkinson report that Walmart is shopping for a new agency to handle its US ad-buying business.
• The development could be a big hit to advertising giant WPP, which has had the business for four years.
• It also comes as Walmart bulks up its own ad business to compete with Amazon, Google, and Facebook.

Read the story.

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Beyond Meat just signed a multi-year deal with McDonald’s on the McPlant Burger, and said it would also create plant-based menus for Taco Bell, KFC, and Pizza Hut

• Beyond Meat signed multi-year deals to supply plant-based foods to McDonald’s and Yum! Brands.
• The deal makes Beyond Meat the “preferred” supplier for the patty in McDonald’s new McPlant burger.
• It said it would also create a plant-based menu for Yum! Brands’ KFC, Pizza Hut and Taco Bell.

Read the story.

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Netflix’s diversity study revealed an equity gap behind the scenes, and showed that LGBTQ+ and characters with disabilities are ‘rare’

• Netflix revealed the details of a two-year diversity study of the company’s shows and staff.
• The on-camera gender gap has closed, but many groups are still underrepresented on and off screen.
• Netflix is investing $100 million over the next five years to bring in underrepresented communities.

Read the story.

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More stories we’re reading:

• Watch Amazon’s anti-union ads that Twitch is removing after saying they should ‘never have been allowed’ (Insider)
• SCOTT GALLOWAY: I predict the New York Times will outlive both Facebook and Google – here’s why (Insider)
• Disney, NFL sketch renewal terms for ‘Monday Night Football’ (Variety)
• Brandwatch is acquired by Cision for $450M, creating a PR, marketing and social listening giant (Techcrunch)
• AdColony is being acquired for $400 million by Digital Turbine (AdExchanger)
• AT&T carves out pay-TV business in deal with TPG (Wall Street Journal)
• New York Times columnist David Brooks wrote a blog post for Facebook’s corporate website (BuzzFeed News)
• How Marty Baron and Jeff Bezos remade The Washington Post (New York Times)

Thanks for reading and see you tomorrow! You can reach me in the meantime at [email protected] and subscribe to this daily email here.