For the first half of 2024, Omnicom’s PHD is the top-ranked agency in global new business, according to figures compiled by agency research firm COMvergence.  

The agency had net new business estimated at $3.3 billion. That figure includes successfully defended business in new pitches and included its retention of the $2.2 billion global Volkswagen account.  

Sibling agency OMD ranks second with nearly $1.5 billion in new client wins and retentions, due notably to the consolidated win of Gap Inc. in the U.S. ($590 million) and the retention of Mercedes-Benz Group in China ($110 million).  

Starcom ranked third, scoring the largest amount of new client wins (totaling $1.2 billion) including Lego global ($440 million) and Nestlé China ($420 million).  

Excluding retentions, Starcom led the pack followed by OMD and Spark Foundry.  

At the group level, Omnicom Media Group was top-ranked, per the COMvergence tally, with a total new business value of $5.3 billion including retentions. Publicis Media was second and GroupM third.  

Excluding retentions Publicis Media recorded the highest incremental billings growth figure with $2.4 billion.  

In H1 2024, COMvergence assessed more than 1,740 media account moves and retentions (1,210 advertisers in total) across 49 countries totaling $16.4 billion (+14% vs. H1 2023). 

Pitches and moves in the US represented 30% of the total spend reviewed globally, while China accounted for 21%. Local pitches represented 66% of the total reviewed spends, amounting to $10.8 billion. 

The overall retention rate during H1 2024 was 39% (versus 21% during the same period last year). PHD, Spark Foundry and OMD have been the most successful media agency networks to retain their client relationships after pitch.