Omnicom’s PHD tops New Business agency rank
By Oluwaseyi Lawal
Omnicom’s PHD has been named the leading agency in global new business, according to data from agency research company COMvergence.
The agency reportedly secured around $3.3 billion in net new business, which includes wins from new pitches and successful defenses, such as retaining the $2.2 billion Volkswagen global account.
OMD, a sister agency, ranked second with almost $1.5 billion in new business and client retentions. Key contributions to this total include winning the consolidated U.S. account for Gap Inc. ($590 million) and retaining the Mercedes-Benz Group account in China ($110 million).
Starcom secured the third position, achieving the largest amount of new client wins, totaling $1.2 billion. Notable accounts included the global Lego account ($440 million) and Nestlé China ($420 million). When excluding account retentions, Starcom led the rankings, followed by OMD and Spark Foundry.
At the group level, Omnicom Media Group claimed the top spot, according to COMvergence, with a total new business value of $5.3 billion, including retentions. Publicis Media ranked second, and GroupM came in third. Publicis Media led in incremental billings growth, excluding retentions, with $2.4 billion in new business.
During the first half of 2024, COMvergence evaluated over 1,740 media account changes and retentions involving 1,210 advertisers across 49 countries, totaling $16.4 billion, a 14% increase compared to H1 2023.
The U.S. accounted for 30% of the total spend reviewed globally, with China contributing 21%. Local pitches made up 66% of the total spend, amounting to $10.8 billion.
In H1 2024, the overall retention rate was 39%, a significant increase from 21% during the same period last year. PHD, Spark Foundry, and OMD were the top-performing media agency networks in retaining client relationships after pitches.
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