Key Takeaways:
- Omnicom Media Group (OMG) and Publicis Media dominated the 2024 global media new business rankings, securing nearly one-third of the $39 billion in reviewed media spending.
- GroupM and IPG Mediabrands struggled, with GroupM missing the top three in net new business and IPG losing Amazon's media account.
- Dentsu showed a strong performance in net new business, securing 23 new clients, including Ferrero, Ikea, and eBay.
Omnicom Media Group (OMG) and Publicis Media led the global media new business race in 2024, according to COMvergence's latest Global New Business Barometer.
The report revealed that $39 billion in global media spending was reviewed last year, with the two top firms accounting for nearly one-third of the total.
OMG emerged as the top performer, securing $7.7 billion in total new business value, which includes both client wins and retentions minus losses.
OMD, Omnicom's media buying powerhouse, played a critical role in this success with major account wins such as Amazon in the U.S. ($1.2 billion in billings) and Gap ($600 million in billings).
Notably, the group retained an impressive $4 billion in billings, led by a $2.6 billion renewal with Volkswagen, managed by PHD.
Retention proved to be Omnicom's biggest strength, reflecting a 74% rate — well above the industry average of 32%.
Publicis Media followed closely behind with nearly $6.5 billion in total new business value.
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The company's strong performance was driven by high-profile account wins, including Hershey in the U.S., Yum Brands and Nestlé in China, and global partnerships with Spotify and LEGO.
Publicis also led in net new business growth, registering $5.8 billion in incremental billings.
Starcom and Zenith ranked as its top-performing agencies, reinforcing the group's standing in the competitive media space.
Brand recognition plays a critical role in media agency success, as seen in OMG and Publicis Media's dominance.
Their ability to retain high-value clients and secure new accounts stems from a strong industry reputation, proven performance, and strategic positioning.
GroupM and IPG Mediabrands Struggle
While OMG and Publicis dominated, GroupM and IPG Mediabrands struggled to keep pace.
GroupM finished third with $4.5 billion in total new business, largely due to retaining Unilever's global media account and winning Johnson & Johnson.
However, the group narrowly missed a top-three ranking in net new business due to greater losses in billings than new wins.
Dentsu made notable strides, ranking third globally in net new business and showing strong numbers in the U.S.
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The agency secured 23 new clients, including Ferrero ($200 million in billings), Ikea ($160 million), and eBay ($145 million), helping it climb the rankings despite not making the top three in total business value.
IPG Mediabrands didn't make the top rankings on account of Initiative's loss of Amazon's media account. Mediahub was the only IPG agency to rank in net new business, finishing fifth in the U.S.
As media agencies navigate shifting client demands and fierce competition, OMG and Publicis have set the benchmark for success.
Their ability to balance high-value client wins with strong retention strategies has positioned them as the industry's dominant players.
Last December, Omnicom became the largest advertising agency in the world after its historic $30 billion acquisition of Interpublic.
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