Earning the best retention and win/loss ratio in the business, OMG adds $2.5 billion in net new business, matching its full-year 2022 total in the first nine months of 2023
OMG agencies OMD, Hearts & Science and PHD achieve historic sweep atop agency network rankings
NEW YORK, Nov. 22, 2023 /CNW/ -- Omnicom Media Group (OMG), the media services division of Omnicom Group Inc. (NYSE: OMC) and parent company to the OMD, PHD and Hearts & Science global media agency networks, had the highest incremental billings growth among global media management groups during the first three quarters of 2023.
As reported in the Q1-Q3 Media Agency New Business Barometer – an analysis of the global media agency marketplace published yesterday by independent research company COMvergence – OMG agencies added more than $2.5 billion in incremental billings over the nine month period measured in the report - matching the group's total for all of 2022.
An OMG Sweep at the Top of the Agency Network Rankings
Breaking down that number by agency brand reveals OMD with $936 million, Hearts & Science with $794 million and PHD with $775 million in net new business gains. The end result was an OMG agency sweep across the top three slots on the ranking, with OMD, Hearts & Science and PHD claiming the #1, 2 and 3 slots respectively, marking the first time that any media group had all of its agency brands topping the agency network ranking since the Media Agency New Business Barometer was first published in 2017. Other superlatives revealed in the report included:
OMG had the best retention rate among the Big Six media groups, retaining close to half of the accounts it had in play in first nine months of 2023 - more than twice the industry retention average of 21%.
Hearts & Science had the best retention rate among agency networks, successfully defending 70 percent of the accounts it had in play, besting the industry average by 350%.
OMG won 19 percent of all business in play across the industry between January and September 2023, while its share of losses was only 6% of total activity, translating to the most favorable Win/Loss ratio (+13 % ) across the Big Six media groups.
OMG has led the industry in net new business for four out of the past seven quarters (Q1 2022-Q3 2024).
Commenting on the report, OMG CEO Florian Adamski said, "These results are a testament to three singular advantages that OMG has in today's challenging marketplace: our first-in-class Agency as a Platform offer to clients that enables both the deep specialization and deep integration brands need to turn marketing complexity into marketing effectiveness; our next-in-class Omni open marketing orchestration system that enables the flexibility and modularity of the Agency as a Platform philosophy; and our best-in class talent that unlock the power of the platform to deliver business growth for our clients around the world."
About Omnicom Media Group
Omnicom Media Group (OMG), the media services division of Omnicom Group Inc. (NYSE: OMC), delivers transformational experiences for consumers, clients and talent. Powered by the Omni marketing orchestration system, OMG connects best -in-class capabilities that enable our full-service media agencies OMD, PHD and Hearts & Science to deliver more relevant and actionable consumer experiences; more productive and proactive client experiences; and more collaborative and rewarding talent experiences for the more than 24,000 people serving the world's leading brands in OMG agencies around the globe.
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SOURCE Omnicom Media Group
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