GroupM’s annual billings surpasses $50 bn for the first time: COMvergence
MUMBAI: GroupM, WPP’s media investment group, will close 2019 with more than $50 billion in annual billings for the first time, according to media and advertising research agency COMvergence.
Also, three GroupM agencies in the top five of global media agency networks based on billings. Mindshare, MediaCom and Wavemaker rank number two, four and five, respectively, with MediaCom posting the highest growth among all agencies in the top ten over the last year at +6.8%.
“This year, GroupM won and successfully defended $2 billion of business. This is an incredible accomplishment on top of delivering breakthrough and award-winning work for our clients. A big part of this success, among other things, is attributed to a combination of data-led insights that drove our clients to new ways of thinking about their business, creativity in activation ideas, and the ability to connect client teams across markets with a more aligned strategy. I’m thankful to our client partners for choosing us and proud of our teams for earning their trust,” said GroupM chief growth officer Elizabeth McCune.
According to the report, the total estimated billings handled by the media agency networks and standalone/dedicated client units and agencies – operated by the big six holding companies – reached about $166 billion across 41 markets representing 94% of the global media investments covered by COMvergence – Brazil and Japan excluded. GroupM had the largest industry market share at 17.2% and 30.2% intra-Big 6 group share.
GroupM’s m/Six was also one of three networks that increased their billings by a double-digit figure (+14.8) over the last year on a global level, while Essence grew double digits in both EMEA and the Asia Pacific.