New business revenue is down about 30% for the first quarter of 2020 compared to the same 2019 period as marketers delay activities as a result of the pandemic, according to an analysis by R3 Worldwide.
Revenue for new global creative assignments fell 33.7%, where media assignments saw revenue drop by 21%.
“This decline won’t get any better through Q2,” stated R3’s Greg Paull. “The message to agencies is clear – hunker down for an annus horribilis.”
MediaCom was the winningest media agency in the crisis-impacted quarter with 57 wins and about $39 million in revenue (including assignments from Audi, Volkswagen and Skoda). PHD, Mindshare, Zenith and Wavemaker rounded out the top-5 positions.
VMLY&R was tops on the creative agency ranking with 35 wins and $52 million in revenue. Leo Burnett, GSD&M, Wunderman Thompson and Ogilvy rounded out the top-5.
The top-5 winningest holding companies were WPP, Publicis Groupe, Omnicom, Dentsu and Havas.