New business has remained relatively resilient globally despite COVID-19, according to marketing consulting group R3 which aggregates advertising industry data.
In the first half of 2020, overall total new business revenue fell 10% globally.
However, creative agencies are having to find ways to do more with less.
Revenue from creative agency new business wins fell more than 17% between January to June.
Media agencies increased revenue by almost 4% from new business with 2% more total reviews than 2019.
“Marketers are on the lookout for agencies who can innovate within budgets,” says Greg Paull, co-founder and principal at R3.
“The growing pressure of the ‘new normal’ in the review process means that delivering ROI remains top of mind.”
WPP dominated global creative new business wins with VMLY&R, Wunderman Thompson and Ogilvy in the top four agencies.
The holding company also leads media new business wins with Mindshare generating the most revenue from wins and MediaCom in third place.
Accenture delivered the highest percentage of revenue growth (2%) in new business won in the six months to June, outperforming WPP, who leads in total revenue and number of wins.
Omnicom’s OMD and PHD share the media leaderboard in second and fourth place.
Accenture Interactive’s Droga5 ranks second in creative new business globally, and first in the US, having won accounts for Allstate and The Hershey Company.
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