GroupM Agencies Top 2023 COMvergence New Business Rankings

  • News
  • March 22, 2024
Wavemaker ranked first overall in total new business values, while Mindshare secured the most in new billings
GroupM led the industry in retention volume, according to COMvergence’s latest Global Full Year New Business Barometer Report.

In its report released today evaluating 2023 new business performance, COMvergence — an independent and international research bureau measuring the performance of major global ad and media agencies — assessed GroupM—WPP’s media investment group—agency Wavemaker to have outperformed all others in total new business value in 2023. According to COMvergence, Wavemaker secured $2.37 billion, more than half a billion more than the number two agency.

Mindshare also outperformed its competitors, according to COMvergence’s report, ranking first overall in new billings, with $1.89 billion secured in 2023.

For the third straight year, COMvergence’s reporting showed that, collectively, GroupM led the industry in retentions with $2.87 billion in retained billings, the most among media agency groups.

The research firm also ranked GroupM first in new business in some of the world’s largest economies, including China, Germany, France and India, four of the top 10 global advertising markets, according to GroupM’s This Year Next Year 2023 Global End-of-Year Forecast.

GroupM ranked first or second in 52% of total markets tracked by COMvergence’s report. The group also ranked first in EMEA and APAC, the world’s fastest growing region. Among media agency networks, Mindshare finished first in EMEA in total new business rankings while Wavemaker also finished first in APAC in the same category.

COMvergence’s results demonstrate that at time of enormous change, complexity, and transformation in the overall market, clients around the world continue to choose GroupM over the competition to help them transform their marketing, grow their businesses, and connect with audiences at scale. The recognition follows results released last week by WARC detailing a seventh consecutive first place ranking in the industry for awards garnered in 2023, reinforcing the company’s industry leadership in quality of work as well as new business growth.