Covid-19 has driven down new business globally in 2020 with global marketing consultancy R3 Worldwide estimating creative and media moves are down 37 per cent in the first five months of the year. Creative is down ten per cent, media 19%.
R3 principal Greg Paull says: “All eyes are on the second half of the year as that’s going to set the tone for business going forward for holding companies and independents. It could be a rough ride for some.”
WPP’s VMLY&R and Wunderman Thompson rank in the top three creative wins globally, a decent result from two of WPP’s recently-merged agencies. WPP’s Mindshare and Omnicom’s OMD dominate media wins in number and value.
In the US there were 35% fewer pitches in January to May than in same period last year. Droga5, GSD&M and VMLY&R lead the creative new business league, while IPG’s Initiative and Omnicom’s PHD and OMD lead in media wins.
Paull says: “With shifting trends in media consumption, regulatory issues, and general discontent when it comes to Facebook, the decrease in media pitches is more of a pause as marketers re-evaluate the media landscape and capabilities.”