MxMIndia

Tag: COMvergence

  • GroupM, IPG Mediabrands and Omnicom Media Group led media groups

    GroupM leads in COMvergence 2023 New Business Barometer

    COMvergence, the independent research and data consultancy which analyses mediaspend investments and produces benchmark studies on new business performances, released its latest New Business Barometer for FY 2023 for India.

    Maruti, Reckitt, PhonePe, Proctor & Gamble (digital), Swiggy, Pernod Ricard,Vivo Mobiles, Beiersdorf, Ferrero, Berger Paints and Jaguar Land Rover were among some of the account moves and retentions that dominated the Indian market from January 2023 to December 2023.

    The Media Agency Groups were led by GroupM by a wide margin with a total new business value of +$654M, followed by IPG Mediabrands at +$200M new business value and Omnicom Media Group with a new business value of +$128M.

    Wavemaker, Mindshare and Lodestar UM led the media agencies’ ranking followed by EssenceMediacom and Havas Media.

    In 2023 COMvergence, assessed an overall of 215 account moves and retentions, with media spends estimated to be around $1.5BN.  Out of these Local pitches dominated the Indian market, whilst 55% of the total pitches held globally were local in nature ( country specific pitches), making India  well above this average with 91%  of total pitches being local whereas global and multi- country pitches made up only 9% of the pie for India.

    2023 saw a whole of 192 local pitches estimated to be around $1399M and 23 global and multi market pitches were estimated to be around $132M in India.

  • Top five most dynamic markets were USA, China, UK, India and Italy respectively

    Comvergence issues New Business Barometer report

    By Our Staff

     

    In the 24th edition of its New Business Barometer report, COMvergence revealed top spends across categories globally, top 5 countries for new business moves global vs local pitches and more.  This was for the time period from Jan 2022 to June 2022.

     

    COMvergence assessed 1,850 media account moves and retentions (1,385 advertisers in total) across 48 countries worth an estimated $13.1 billion, which was in line with the previous-year period  NBB H1 Jan 2021 – June 2021)

     

    The US accounted for 33% of the total spend reviewed globally.

     

    The Top 5 most dynamic markets in terms of new business moves (inclusive of pitches and retentions) were USA, China, UK, India and Italy respectively.

     

     

  • GroupM, Publicis Media Group and Dentsu International led the Media Agency groups

    COMvergence launches new biz barometer for FY21

    By Our Staff

     

    COMvergence, an independent research and data consultancy, which analyses media spend investments and produces benchmark studies on new business performances, released its latest New Business Barometer for the FY 2021 for India.

     

    The Media Agency Groups were led by GroupM with a total new business value of +$1028M, followed by Publicis Media Group at +$188M new business value and dentsu International with a new business value of +$161M respectively.

     

    Mindshare from the GroupM umbrella led the media agencies’ ranking by a large margin followed by Wavemaker at the second rank, followed by Starcom, Initiative and Madison Media.

     

    In 2021, COMvergence assesed an overall of 332 account moves and retentions in India with media spends estimated to be around $2.3BN.  This figure (of around $2.3BN)  represents  about 25% of the Indian media agency billings ($9.2B), whilst the retention rate for India is 43% for 2021.

     

    Around $922M were from global and multi- country pitches and $1338M were local pitches in 2021.

     

    Unilever, Coca-Cola, L’Oréal and Meta ( formerly Facebook), PhonePe, CRED, Viacom, Perfetti, Tata Consumer Products, Rohit Surfactants Private Limited (RSPL),Oppo Electric Corp, Ola (Electric) were among some of the  account moves that dominated the Indian market in 2021.

     

  • Mindshare, Wavemaker and MediaCom achieve the Top 3 agency rankings

    GroupM ranked No 1 in net new business in APAC & LATAM

    By Our Staff

     

    GroupM, WPP’s media investment group, has been ranked highly in the 2021 new business report issued by COMvergence, the independent and international research bureau measuring the performance of major global ad and media agencies. The study, which ranks GroupM first in net new business in both Asia Pacific and Latin America, reports $11.5 billion in total wins and retentions by GroupM agencies globally in 2021.

     

    As per a press release issued by GroupM, its wins and retentions in 2021 were the highest in the industry overall and nearly double its total wins and retentions for 2020. Among agency networks, Mindshare, Wavemaker, and MediaCom dominate the top three rankings respectively in Asia Pacific.

     

    Of GroupM’s top three markets, two were in APAC – China with $2.1 billion in growth and India with $1.2 billion – as the group finished first by a wide margin in one of the world’s fastest growing regions. Additionally, the U.S. saw $2.3 billion in growth last year, a 37% increase over 2020’s totals.

     

    Said Christian Juhl, GroupM’s Global CEO: “COMvergence’s report speaks to the strength and momentum of our business,” “Our commitment to responsibility is resonating strongly in the global marketplace. We’re growing the fastest where it matters most, with the right partners, in the right markets, with clients that share our vision for making advertising a force for good in the world. I’m grateful to our teams for the hard work they put into making 2021 a record-breaking year for us and to our clients for the faith and trust they put in us to help them achieve their business goals.”

     

    Added Elizabeth McCune, GroupM’s Global Chief Growth Officer: “Last year was the busiest ever for our industry on the new business front,” “In an especially demanding year, GroupM not only demonstrated that we are the most compelling new solution for global brands committed to responsibility and innovation in media and marketing, but we also retained more business from our existing clients than any other group.”

     

  • Network’s new business billings hit $2.2bn for the year

    MediaCom tops COMvergence New Business Barometer for 2018

    By A Correspondent

     

    MediaCom has been named as the world’s most successful agency network of 2018 in the COMvergence New Business Barometer Full Year 2018 report.

     

    MediaCom’s net gains of $2.2bn in new business billings (which includes $2bn in the top 12 countries) factors in $893m of retained business. Key account wins for MediaCom during this period included adidas, Bose, Mars and Hilton, while the agency also retained the Shell account after competitive pitches, along with Sky in the UK.

     

    The COMvergence report assesses more than 2,250 media account moves and retentions across 34 countries totalling $30.4bn.

     

    In addition to topping the global table, MediaCom was the most successful agency in North America and APAC.

     

    Said Stephen Allan, MediaCom’s Worldwide Chairman & CEO: “This is a really fantastic result and one we are very proud of. At MediaCom, we believe in putting people first to get better results – for us and our clients – and our consistent performance over the last year goes some way to proving that we are delivering on this promise. We’re going to continue working hard to stay at the top in 2019 and keep growing our clients’ businesses!”

     

     

  • According to COMvergence’s most recent global billings and market share reports, GroupM is the number one media investment group for 2018

    It’s goodbye to RECMA, as GroupM converges on COMvergence

    By A Correspondent

     

    GroupM has announced that it is consolidating the reporting and analysis of its commercial and business development data with COMvergence. COMvergence is an independent, international research company collecting and analysing data from the global marketing services groups and the marketplace.  This, according to reports, means a goodbye to RECMA, the longstanding agency analysing media agency business and growth.

     

    Said Elizabeth McCune, Global Chief Growth Officer at GroupM: “COMvergence has taken an open approach to building its methodology and partnerships for data collection and tabulation, giving us the confidence that when we share data from their benchmark reports to clients and their pitch consultants, it is the most accurate and validated view of the size and scope of our business and competitive set across the globe. Our industry truly needs a focus on accuracy and transparency in this area,”

     

    According to COMvergence’s most recent global billings and market share reports, GroupM is the number one media investment group for 2018, with $45B of cumulative billings and 28.8 percent market share (based on the total billings for the big 6 groups). In addition, three of GroupM’s agencies – Mindshare, Wavemaker and MediaCom – are in the top 10 rankings for global media agencies.

     

    Holding Company/Agency Intra-Network

    Ranking

    		 Intra-Network

    Projected Billings 2018 ($M)

    		 Intra-Network

    Projected 2018 Market Share
    GroupM #1 $45,122 28.8%
    Mindshare #2 $16,516 10.8%
    Wavemaker #5 $12,369 8.1%
    MediaCom #6 $12,108 7.9%
    Essence #16 $2,256 1.7%
    m/SIX #18 $700 0.5%
    Other GroupM (standalone) entities (Team Nestlé US, Motivator India, L’Atelier / LVMH, Team Airtel / India, IKON / Australia) – $1,173 –
    All figures based on November 2018 COMvergence Reporting and represents figures within the top six global holding companies only.

     

    Said Olivier Gauthier, Founder of COMvergence: “GroupM has been an extraordinary client partner. They, along with the major holding company media groups, have worked with COMvergence since our founding to develop accurate methodologies and a collection of local and global reports that provide true insight into agencies and their performance across the globe.”. Gauthier worked with RECMA until March 2016 and set up COMvergence a month later.