Breaking Records: Omnicom Media Group Dominates Comvergence Q1-Q3 Report with $7.37 Billion in New Business!
Description:
In a Pitch Cycle That Saw 50% Churn Rate, OMG Is #1 for Retention, Holding on to 85% of Its Billings in Play. OMG agencies PHD and OMD Leverage Agency as a Platform Model to Dominate Global Media Network Ranking. NEW YORK, Dec. 3, 2024 /PRNewswire/ — Omnicom Media Group (OMG), the media services division of Omnicom (NYSE: OMC) and parent company to the OMD, PHD and Hearts & Science global media agency networks, had the best total new business record (wins minus losses, including retentions) among global media management groups during the first three quarters of 2024. As reported in the recently published Global Media Agency New Business Barometer Q1-Q3 2024 – an analysis of the global media agency marketplace from independent research company COMvergence – OMG was awarded $7.37 billion in client billings – including $4.4 million in retained business – during the first nine months of the year, outperforming its nearest competitor by more than 40 percent.
How it will impact you:
The dominance of Omnicom Media Group in the Comvergence Q1-Q3 Report showcases their ability to attract and retain clients, ensuring stability and growth within their agency. As a consumer, this means you may see more targeted and creative advertising campaigns from companies working with OMG agencies like PHD and OMD. This could lead to a more engaging and personalized brand experience for you as a customer, as companies strive to stand out in the competitive market.
How it will impact the world:
On a global scale, Omnicom Media Group’s success highlights the shifting landscape of media and advertising industries. By demonstrating strong retention rates and new business acquisitions, OMG is setting a benchmark for other agencies to follow suit. This could lead to a more competitive and innovative advertising market, benefiting businesses and consumers alike. Additionally, the agency’s strategic use of the agency-as-a-platform model signifies a new approach to media network ranking, potentially influencing how other media groups operate and collaborate in the future.
Conclusion:
In conclusion, the remarkable performance of Omnicom Media Group in the Comvergence Q1-Q3 Report is a testament to their expertise and strategic approach to client relationships. With a focus on retention and new business growth, OMG has positioned itself as a leader in the global media agency landscape. As consumers and businesses, we can expect to see the impact of their success through more engaging and innovative advertising campaigns in the future.
