Omnicom leads net new media biz
By Felicia Nwosu
Global leading advertising giants, Omnicom’s and Publicis’ media groups have recorded another feat with net new media business, posting nearly $3.3 billion each in net gains during the first three quarters of 2023.
The growth, which includes retention, was released from agency account tracker COMvergence according to Mediapost.
The new shift is a signal that IPG Mediabrands and GroupM also have had healthy year-to-date net gains approaching $2 billion, where Havas Media Network made $180 million in net new business) and Dentsu (-717 million) which were the holding company media business laggards.
Reacting to the new outlook, Olivier Gauthier, Founder and CEO of CONvergence said that, by comparison to the Big 6 holding company average, Omnicom Media Group had the best record, retaining 44% of business being reviewed.
“It is the lowest rate since 2016,” of the holding companies’ media business retention rate, which averaged only 21% during the first three quarters of the year.”
Among the holding companies’ top five media agency brands, OMG’s OMD led the pack, with its PHD and Hearts & Science units ranking third and fourth for the first three quarters of the year.
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