An independent and international research bureau, COMvergence, has measured the performance of global ad and media agencies for Global Full Year business barometer. As per the report, Wavemaker, a part of GroupM – WPP media investment group, outperformed in total new business barometer in 2023.
The global media network, Wavemaker, secured $2.3 billion, which is more than half a billion more than the number two agency, according to COMvergence report.
On the other hand, Mindshare also surpassed its competitors with $1. 89 billion secured in 2023, thereby ranking first in new billings.
In the released COMvergence report, GroupM led the industry in retention volume with $2.87 billion billings collectively, for the third consecutive year.
The research bureau also ranked GroupM first in new business in some of the world’s largest economies, including China, Germany, France and India. Thus, making it the first four of the top 10 global advertising marketing, according to GroupM’s This Year Next Year 2023 Global End-of-Year Forecast.
Notably, the group also tops in EMEA and APAC, the world’s fastest growing region. Not to mention, Mindshare completed first in EMEA in total new business rankings whereas Wavemaker also finished first in APAC under the same category, as per the COMvergence’s report.
The recognition for the group, follows results released last week by WARC detailing a seventh consecutive first place ranking in the industry for awards garnered in 2023, reinforcing the company’s industry leadership in quality of work as well as new business growth.
