Omnicom's and Publicis' media groups have led net new business gains (including retentions), posting nearly $3.3 billion each in net gains during the first three quarters of 2023, according to just-released data from agency account tracker COMvergence.
While IPG Mediabrands and GroupM also have had healthy year-to-date net gains approaching $2 billion, Havas Media Network (just $180 million in net new business) and Dentsu (-717 million) were the holding company media business laggards.
"It is the lowest rate since 2016," COMvergence Founder and CEO Olivier Gauthier noted of the holding companies' media business retention rate, which averaged only 21% during the first three quarters of the year.
By comparison to the Big 6 holding company average, Omnicom Media Group had the best record, retaining 44% of business being reviewed
Among the holding companies' top five media agency brands, OMG's OMD led the pack, with its PHD and Hearts & Science units ranking third
and fourth for the first three quarters of the year.