, Columnists
Madison Avenue Takes a Darker Turn
Unilever shows the screws are tightening on the ad giants.
This article is for subscribers only.
Ads for consumer goods are often populated by happy-looking people blessed with blue skies and permanent sunshine. For the folk on Madison Avenue, they've started to take a darker turn.
The world's second-biggest advertiser, Unilever Plc, is on a push to improve profitability to placate shareholders after it rebuffed a takeover by Kraft Heinz Foods Co. It wants to cut the 7.7 billion euros ($8.2 billion) it spent last year to promote its brands, including Lipton, Knorr, and Dove, and halve the number of agencies it uses for creative work.