Omnicom’s OMG is winning the 2023 holding company media battle baccording to new figures from COMvergence, reported in MediaPost (sign-in required.)
It’s level with Publicis Media with $3.3bn in net new business gains (including retentions) in the first three quarters of 2023 but top in retaining business at 44% against an industry average of just 21%.
IPG Mediabrands and WPP’s GroupM added net gains approaching $2bn each with Havas Media Network posting just $180m and Dentsu dropping $717m.
Among holding company brands OMG’s OMD led with its PHD and Hearts & Science units ranking third and fourth.
Notably absent from this list is WPP’s giant EssenceMediacom which, so far at least, does not seem to have benefited from bringing the tech-based Essence and traditional volume leader Mediacom together, with Essence on top. Dentsu, too, seemed to be struggling in the wake of seemingly endless reorganisations which have led to the departures of numerous senior staff.
Clients, it seems, like to know the animal they’re dealing with – a point seemingly lost on some agency CEOs. Which is reflected, presumably, in the very low (21%) rate of account retention.