GroupM Continues to Lead Industry in Retained New Business according to COMvergence Rankings for Q1 – Q3 2023, More Than Doubling Next Closest Media Agency Group
- December 4, 2023
Total retained new business value by GroupM in the first three quarters is more than double that of the next closest media agency group; Wavemaker and Mindshare both rank top among the industry’s top five media agency networks during the same period
GroupM continues to lead the industry in total retained new business billings through the first three quarters of 2023, according to data contained in the latest New Business Barometer (NBB) Report published by COMvergence, an independent and international research bureau measuring the performance of major global advertising and media agencies.
The report assesses that GroupM retained more than $1.7 billion in billings in Q1—Q3 2023, more than the total of retained billings from the next two media groups combined, underscoring the group’s commitment to its client relationships and excellence in client service and media delivery.
Additionally, the report found GroupM collectively held the highest percentage of wins and retentions in the industry (20%) between January and September 2023.
GroupM also placed in the top three in total new business value in over half of global markets tracked in COMvergence’s report, and continues to gain strong momentum in APAC, placing first in total new business value in the region at over $1.4 billion, up nearly a third since Q2 and almost double the amount of the next ranked group.
GroupM ranked second for new business rankings in the EMEA region overall ($1.08 billion) and took the top spot in a number of other key markets in region, including Germany and Switzerland.
Among agency networks, COMvergence ranked Wavemaker second overall in the Q1—Q3 period, with an assessed total new business value of nearly $1.3 billion. Mindshare ranked fifth among agency networks with a total new business value of nearly $800 million.