In a Pitch Cycle That Saw 50% Churn Rate, OMG Is #1 for Retention, Holding on to 85% of Its Billings in Play
OMG agencies PHD and OMD Leverage Agency as a Platform Model to Dominate Global Media Network Ranking
NEW YORK, Dec. 3, 2024 /PRNewswire/ -- Omnicom Media Group (OMG), the media services division of Omnicom (NYSE: OMC) and parent company to the OMD, PHD and Hearts & Science global media agency networks, had the best total new business record (wins minus losses, including retentions) among global media management groups during the first three quarters of 2024.
As reported in the recently published Global Media Agency New Business Barometer Q1-Q3 2024 - an analysis of the global media agency marketplace from independent research company COMvergence - OMG was awarded $7.37 billion in client billings – including $4.4 million in retained business - during the first nine months of the year, outperforming its nearest competitor by more than 40 percent. Remarkably, OMG also earned the highest retention rate, successfully defending 85% of its billings in review while concurrently expanding its client roster.
The COMvergence results affirm the findings of a recent analysis from leading research and advisory firm Forrester in which OMG was named a "Leader". Earning the highest score among the 12 global media management groups evaluated in The Forrester Waveâ„¢: Media Management Services, Q4 2024, OMG received 5/5 scores in eight categories, including Innovation, Martech and Adtech Implementation and Media Responsibility. As reported in the evaluation, Omnicom clients noted the agency's transparent business practices, trustworthy relationships, and strength of Omni - the open operating system that supports all Omnicom agencies - technology for media and business intelligence.
The Omni advantage was evident in OMG's win/loss share as the group leveraged its Omni-powered Agency as a Platform model that enables a flexible ecosystem of talent, capabilities, and technology across all OMG agencies to win 28% of the $29.5 billion in business awarded during Q1-Q3 – the highest share among all groups - while its share of losses was only 5%, compared to double-digit shares posted by some of its competitors.
"The only thing that matches the privilege of adding new clients to our roster is having our long-term clients choose to renew their relationships with Omnicom Media Group," said OMG CEO Florian Adamski. "Earning both the best total new business record and the best retention rate during a period when an historic amount of business was in play, and half of that business changed hands, is a testament to the trust we've earned - whether over the months of a review or the years of a relationship - from the world's leading marketers. Leveraging our Agency as a Platform model, we will live up to that trust by delivering customized solutions that integrate the vast collection of specialized talent, capabilities, and processes required to drive business growth in today's complex marketplace."
Beyond topping the global ranking, OMG was also #1 in North America, EMEA and LATAM, and in the top two largest advertising markets – the US and China; as well is in Argentina, Colombia, France, Germany, Hong Kong, Ireland, Mexico, Netherlands, New Zealand, Peru, Portugal, Singapore, Slovakia, Spain, Switzerland, and Turkey.
PHD and OMD Dominate the Agency Network Rankings
OMG's best-in-class total new business ranking for Q1-Q3 was fueled by powerful performances from its agency networks, with all its agency brands ranked in the top 10 – and PHD and OMD claiming the #1 and #3 spots, respectively.
PHD topped the global agency rankings with $3.63b in total new business by successfully defending the $2.2b Volkswagen Group business as well as Sainsbury's , HP and the majority of its Unilever business – making PHD the most successful network for retaining it client relationships coming out of this Q1-Q3 pitch cycle. Incremental wins included Priceline and David Yurman , and an expanded relationship with QSR giant Restaurant Brand's International - for which it supports Burger King, Popeye's, and Tim Horton – with the addition of the Firehouse Subs franchise.
"Our performance reflects the evolution of PHD's offer over the past year, as we have realigned our talent, our approach and our use of technology to enable an agency network that is engineered for connected intelligence," says PHD CEO Guy Marks. "As a result, clients both current and new are increasingly seeing PHD - enabled by the depth and breadth of OMG and Omnicom capabilities – as not just a media agency, but as a partner than can truly orchestrate consumer experiences, connecting media, commerce and content to deliver solutions that help them outthink, outpace and outgrow the marketplace."
Joining PHD at the top of the global ranking with wins that included Gap Inc. and Michelin, OMD was also the #1 agency network in North America for net new business (wins minus losses, excluding retentions), with sister agency Hearts & Science making the top five on the NA net new ranking with wins that included Tapestry, HanesBrands Inc., Lovesac and Goldman Sachs.
Winning on All Fronts in the First Nine Months
In addition to outperforming the market in new business, OMG also lead the industry on multiple fronts during the first six months of the year, starting at CES where the group announced first-to-market partnerships with Google, TikTok, Amazon and Meta designed to bridge the gap between creators and commerce, driving better ROI across influencer channels.
During the Cannes Festival of Creativity, OMG announced partnerships with Amazon, The Trade Desk, TikTok and Instacart designed to directly connect upper funnel media investments to sales. OMG was also the most honored media group at the festival, earning the highest combined total of Lions and short list placements; and OMD was named Media Network of the Year, with PHD coming in a close second.
Also, when the annual Effie Index ranking the world's most effective agencies, marketers, brands, networks, and holding companies was published in June, OMG earned the highest score among global media groups.
About Omnicom Media Group
Omnicom Media Group (OMG), the media services division of Omnicom Group Inc. (NYSE: OMC), delivers transformational experiences for consumers, clients, and talent. Powered by the Omni marketing orchestration system, OMG connects best -in-class capabilities that enable our full-service media agencies OMD, PHD and Hearts & Science to deliver more relevant and actionable consumer experiences; more productive and proactive client experiences; and more collaborative and rewarding talent experiences for the more than 27,000 people serving the world's leading brands in OMG agencies around the globe.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
OMNICOM MEDIA GROUP TOPS COMVERGENCE Q1-Q3 REPORT WITH $7.37 BILLION IN TOTAL NEW BUSINESS
OMNICOM MEDIA GROUP TOPS COMVERGENCE Q1-Q3 REPORT WITH $7.37 BILLION IN TOTAL NEW BUSINESS
OMNICOM MEDIA GROUP TOPS COMVERGENCE Q1-Q3 REPORT WITH $7.37 BILLION IN TOTAL NEW BUSINESS
OMNICOM MEDIA GROUP TOPS COMVERGENCE Q1-Q3 REPORT WITH $7.37 BILLION IN TOTAL NEW BUSINESS
