WPP Media secured the top position in global media new business rankings for the first quarter of 2026, generating $1.5 billion in new client billings, according to COMvergence data released Thursday.

The result marks the second consecutive quarter WPP has led the industry in net new business wins despite continued revenue declines across the wider holding company.

The performance signals early turnaround momentum for WPP’s media division following a bruising 2025, during which it lost major accounts, including Mars’ global media business and Coca-Cola’s North American media and data operations to Publicis.

Major Q1 wins included Jaguar Land Rover, Estée Lauder’s global media remit, SC Johnson North America, Wendy’s U.S. media buying, the UK government media account, Reckitt, and Norwegian Cruise Lines.

Omnicom Media Group ranked second with $1 billion in new business wins and an additional $1 billion in retained business.

The figures combine performance across Initiative, Hearts & Science, Mediahub, OMD, PHD, and UM following the Interpublic Group acquisition.

Despite strong new business momentum, WPP Media’s Q1 revenue declined 8.5 per cent on a like-for-like basis, nearly two percentage points worse than the wider company’s 6.7 per cent decline.

Chief Financial Officer Joanne Wilson attributed the weakness to a “significant drag from gross account losses”, while noting that wins secured in Q4 2025 and Q1 2026 had not yet fully ramped to offset departing revenue.

JP Morgan analysis separately ranked WPP first for net new business at $0.8 billion in Q1, ahead of Publicis at $0.7 billion and Omnicom at negative $0.1 billion.

The ranking marks WPP’s second consecutive quarter leading the industry on that metric and supports the early execution of its Elevate28 turnaround strategy under CEO Cindy Rose.

Wilson said she expects Q1 to represent the worst quarter for net new business impact in 2026, with account-loss pressure easing through the year as recently acquired accounts begin contributing meaningful revenue.

She projected the strongest contribution would emerge in the second half as new client spending reaches full run rate.

Wilson also credited improved performance to WPP Media’s transformation under CEO Brian Lesser, who returned to the group in 2024.

Lesser’s return coincided with operational restructuring designed to restore competitiveness, particularly in underperforming U.S. and UK markets where previous account losses weighed most heavily.

The momentum arrives as holding companies navigate structural pressure from clients reducing marketing budgets, bringing capabilities in-house, and increasingly questioning traditional agency economics.

Agencies are being pushed to deliver short-term performance whilst continuing long-term investment in AI integration, retail media expertise, and first-party data capabilities.

For Nigeria’s advertising industry, WPP’s turnaround attempt reinforces a familiar lesson: market leadership does not remove the need for continuous reinvention.

Its Elevate28 roadmap, stabilise in 2026, build in 2027, accelerate in 2028, offers a structured approach to transformation rather than relying on short-term recovery measures when business models face sustained disruption.

However, analysts note that WPP still faces execution risk as it simultaneously defends existing accounts, integrates newly won business, and restructures operations. Recent momentum could weaken if client service quality suffers under competing operational demands.

ALSO WATCH:MARKETING EDGE ONTV