MediaCom Tops COMvergence’s 2020 Media Agency New Business Barometer
- Press Release
- March 12, 2021
WPP’s GroupM was the top media agency network.
In a year where new business was as important as ever to withstand the financial impacts of the pandemic, there was a lot more opportunity for media agencies to succeed than their creative counterparts.
Global data research consultancy group COMvergence released the results of its 2020 Media Agency New Business Barometer today, tracking 2020’s top agencies and networks of the 3,580 media account moves and retentions seen in 46 countries.
Unsurprisingly, given the pause in reviews by many clients in the initial months of the pandemic, there was less up for grabs than in previous years. The media account moves and retentions tracked by COMvergence in 2020 totaled around $22.2 billion in spending, around 11% of the $203 billion in the group’s global agency billings. That number was down about $4 billion from 2019’s total. Incumbent agencies also fared better than in previous years, with an average retention rate of 31%, compared to 25% in 2019.
Read more from Adweek here.