According to the latest global media agency study New Business Barometer for H1 2023 published by COMvergence, Wavemaker came out as the top global media agency network in new business results.

It has a total new business value of over USD$1.2-billion, including USD$818-million in retentions from Huawei China (USD$315-million) and Adobe United States (USD$140-million), among others.

Zenith ranked second by scoring a total new business value of over USD$581-million, including the multi-market win of Adobe (USD$150-million) and the retention of L'Oréal in Iberia (USD$130-million).

The initiative holds the third position (over USD$555-million) thanks to the major win of Constellation Brands in the United States (USD$534-mllion). OMG's media networks, Hearts & Science and OMD, follow very closely behind the top three.

Top five media agency networks — H1 2023 NBB Global



Olivier Gauthier, COMvergence founder and CEO, says, "In terms of net new business balance — excluding retentions — the top three agency networks are ranked differently. The initiative shows the highest incremental billings with over USD$538-million, followed by Hearts & Science at more than$510M and Wavemaker with USD$392-million."

Big six media agency groups — H1 2023 NBB Global



At the group level, Publicis Media ranks first with a total new business value of over USD$3.3-billion due to the global win of Pfizer (USD$1.5-billion), LVMH in N.A. (USD$360-million) and Signet Jewelers and Walgreens in the United States (USD$475-million).

Mediabrands takes the second place with a net billings gain of over USD$1.7-billion. GroupM ranks third with the largest total retained billings (USD$1.1-billion).

Between January and June 2023, COMvergence assessed 1 771 media account moves and retentions (1 200 advertisers in total) across 46 countries, totalling USD$14.4B (more than 10% versus H1 2022). The United States accounts for 45% of the total spend reviewed globally.

Gauthier goes on to say, "Local pitches continue to represent a major part of the total reviewed spends amounting to USD$9.5-billion (66% of the total), while the average retention rate dropped to 21% (versus 27% in H1 2022). This is the lowest rate since 2016."

Global and multi-country reviews concluded in H1 2023 resulted in a total of USD$4.9-billion. Among the major ones are the following:



Note that the following major 2023 concluded pitches — announced since the beginning of July — will be assessed in the next edition of the report (Q1-Q3 2023), due for release in early November:

  • Allwyn Entertainment (UK / USD$150M): won by Hearts & Science 
  • Electrolux (Global / USD$80M): retained by Zenith
  • Beiersdorf (N.A-Europe / USD$585M): won by OMD
  • Carlsberg (Global / USD$250M): won by iProspect
  • Grupo Bimbo (Global / USD$150M): won by PHD
  • HSBC (Global / USD$150M): won by PHD
  • Kraft Heinz (USA / USD$192M): won by Carat
  • Miele (Global / USD$80M): won by Publicis Media
  • Nestlé (EMEA / USD$660M): won by OpenMind (GroupM)
  • Shell (Global / USD$240M): won by Havas Media
  • Under Armour (Global / USD$145M): won by OMD, and
  • Unilever (AUZ / USD$30M): won by Mindshare.

For more information, visit www.comvergence.net.