Initiative lands Intuit Quickbooks’ $175 million US media account

Global media agency Initiative has snagged the $175 million US media account for Intuit’s Quickbooks brand, Campaign US has learned.

Initiative won the account after a competitive pitch run by Apollo Group, which concluded in October. Omnicom-owned Hearts & Science was the incumbent overseeing video, audio, programmatic and OOH. Omnicom’s Decoded was also an incumbent, overseeing paid social and mobile buying.

Initiative declined to comment on who else participated in the review. But sources confirm that PHD, another Omnicom agency, pitched for the business in place of Hearts & Science.

Initiative, which is responsible for all paid media, audience strategy and analytics in the U.S. for Quickbooks and its more than 14 accounting, payroll, time tracking, payment and inventory management solutions for small and mid-sized business owners, started working on the account on November 1. Intuit ran the review as part of a consolidation effort.

“Initiative demonstrated best-in-class media capabilities, creativity and ideas grounded in a sound understanding of the Intuit Quickbooks business,” said Dave Raggio, director of acquisition marketing at Quickbooks, in a written statement provided to Campaign US. “We are thrilled to partner with Initiative as we look to continue diversifying and expanding our ecosystem of products supporting small and mid-sized businesses.”

The Intuit media shift comes after launching a new money management product for small businesses, Money by Quickbooks, last month.

Intuit’s other brands — Turbo Tax, Mint and Credit Karma — were not included in the review.

The account is led by Initiative’s managing director Natalie Holbrook and chief communications design officer JP Aguirre.

Hearts & Science and Decoded did not respond to requests for comment in time for publication.