OMD has been named as the top global media agency network with a total new business value of more than US$1.4 billion (AU$2.12 billion) following the Beiersdorf, Bimbo and Under Armour wins.
Lead image L-R: OMD Australia co-CEOs Laura Nice & Sian Whitnall.
Wavemaker ranked second by scoring a total new business value of more than $1.3 billion (AU$1.97 billion) after successfully retaining around SU$1 billion (AU$1.5 billion) in billings from brands such as Huawei and Xiaomi in China and Adobe in the US. PHD and Hearts & Science followed with a total new business value of US$964 (AU$1.45 billion) and $913 million (AU$1.38 million), respectively.
At the holding company level, OMG and Publicis placed first and second with US$3.3 billion (AU$5 billion) including retentions and US$2.5 billion (AU$3.79 billion) in net billings gain.
Mediabrands took third place after strong results in the US which saw the group win Geico, Constellation Brands and Bristol Myers Squibb.
“In terms of net new business balance – excluding retentions – OMD, PHD and Hearts & Science, had the highest incremental billings growth among global media agency networks during the first three quarters of 2023; marking the first time that any media group had all of its agency brands topping the agency network ranking since the Media Agency New Business Barometer was first published in 2017″, said Olivier Gauthier, COMvergence founder and CEO.
“During this period the average retention rate was only 21 per cent (vs. 34 per cent in Q1-Q3 2022). It is the lowest rate since 2016. Hearts & Science and Wavemaker have been the most successful agency networks to retain their client relationships over this period, whilst OMG scored the best retention rate among the “Big Six” groups (44 per cent)”.
This data did miss some big pitches announced since the beginning of last month including Aldi, BMW, Church & Dwight, E.ON, General Mills, L’Oréal, Papa John’s, PayPal, Perfetti, Tchibo and Unilever.
OMD had some big wins and retentions locally, too. In October, it retained the account for Telstra’s media as part of the telco’s new +61 bespoke agency set up.
