Media agency research firm RECMA is out with its latest global "Overall Activity Volume" (OAV) report that covers full-year 2025.  

It indicates that OMD has repeated as the largest network, managing $35.1 billion in client media expenditures, up 2.5%.

Those expenditures include both traditional media billings and "billings equivalent" dollars for services such as data analytics, SEO, e-commerce, and content production.

The Omnicom agency network had a 9.9% share of the industry's overall activity volume last year. 

RECMA has issued a free 20-page extract of the report, which can be accessed from its website. The full 500-page report is available for purchase. 

WPP's EssenceMediacom is ranked number two in 2025, with OAV of $29 billion, down 4.7% with an 8.1% industry share. 

WPP's Mindshare was third-ranked ($27.7 billion, down 2.9%, 7.8% share).  

Publicis Groupe's Zenith was fourth ($27.3 billion, up 10%, 7.7% share). Starcom, also part of Publicis Groupe, was fifth ($24.8 billion, up 10.3%, 5% share). 

"Among these top agencies, EssenceMediacom and Mindshare are evaluated with a negative growth rate, while Zenith and Starcom are closing in with growth rates exceeding 10%," the report's extract states. "This confirms recent new business trends of the past few years: negative for WPP Media and strongly positive for Publicis Media." 

By holding company, Omnicom Media — including IPG's media assets acquired in late 2025 — was the top group with a 32.7% share, followed by WPP Media (24.4%), Publicis Media (24%), Dentsu (13.1%) and Havas Media (5.7%). 

Broken out separately, the extract notes that Omnicom Media Group had a 19.9% share and IPG Mediabrands had a 12.8% share.  

The extract notes that given recent trajectories of both companies, Publicis Media "is expected to overtake" WPP Media in 2026 while Omnicom Media will remain on top given its sheer size.  

Based on account moves in late 2025 and the first half of 2026 RECMA is projecting that Omnicom Media will be the top-ranked group for full-year 2026 with OAV of $107.2 billion -- flat versus the prior year.

Publicis Media is projected to take second place with $83.8 billion OAV, up 6.6% and WPP Media will place third with $79.3 billion OAV, down 1.1%. 

"Publicis agencies secured the most significant pitches over the past 12 months," the extract states, including Mars, Paramount, Coca-Cola USA, Kenvue, Microsoft and more. 

Also provided is a snapshot of the fastest-growing agencies from 2022 to 2025, with Dentsu's iProspect in the top spot with 35% growth during the period. Publicis Groupe's Spark Foundry was second, up 32% and Zenith was third, up 31%.