Pitch Revenue Drops Sharply in 2022 Amid Economic Worries

Concerns about the global economic picture have been top of mind for Adland for the last six months or more and declines in 2022 new business revenue from both media and creative pitches reflects that mindset, according to a new analysis from consultant R3 Worldwide.

Globally, net revenue from media agency pitches fell nearly 42% last year to $976 million. In the U.S. the drop was 43% to $256 million.

Revenue from creative pitches was also down sharply both in the U.S. (42%) and abroad (30%), versus the prior year. Overall, the value of new business decreased 35% last year.

“The race is heating up to diversify services beyond traditional Creative and Media,” said R3 CEO Greg Paull. “The future is in eCommerce, Data and Performance Marketing and agencies need to sell more advanced solutions to clients. The biggest moves in 2022 have all been focused on the ability to serve the convergence of media, commerce, entertainment, and shopping.”



According to the R3 assessment, Publicis Groupe’s Starcom was top-ranked media agency both globally and in the U.S. with estimated net new business revenue from pitches of $160 million. In the U.S. GroupM’s Mindshare ranked second, followed by Omnicom’s PHD, Dentsu x and Horizion Media respectively.

Globally, Zenith was ranked second followed by Carat, PHD and Havas Media.

Publicis was the top holding group with total net revenue from creative and media pitches combined of $804.6 million. WPP was second ($425 million), Omnicom third ($261 million), IPG fourth ($248.5 million) and Havas fifth ($210 million). 


Next story loading loading..