GroupM, Mediabrands, Omnicom Media Group top media group ranking: COMvergence

COMvergence an independent research and data consultancy, which analyses media spend investments and produces benchmark studies, on new business performances, and Billings and Market share of media agencies, has released its New Business Barometer report for India, covering the time period from January 2023 to June 2023.

Among the 122 pitches and moves with media spends estimated to be $973 million assessed by COMvergence in the Indian market for this period, only 11 were global and multi-market pitches with a new business value of $44 million. Whereas 111 accounts moved and pitches with a new business value of $929 million were all local in nature.

This places India above the global average of local pitches, which were at 66%, whereas India saw 95% of the total pitches being local in nature (country specific pitches).

Maruti, Reckitt, PhonePe, Proctor & Gamble, Pernod Ricard, Vivo Mobiles, Beiersdorf and Jaguar Land Rover  were among some of the account moves that dominated the Indian market from January 2023 to June 2023.

Wavemaker, (new business value +$203 million), Mindshare (new business value +$154 million), Lodestar UM (new business value +$128 million), Essence Mediacom (new business value $102 million) and OMD (new business value +$87 million) led the media agency ranking.

The Media Agency Groups were led by GroupM (new business value +$491 million), followed by Mediabrands (new business value +$139 million), Omnicom Media Group (new business value +$111 million), respectively.