COMvergence an independent research and data consultancy, which analyses media spend investments and produces benchmark studies, on new business performances, and Billings and Market shares of media agencies, released its latest Billings and Market share report for FY 2021 for India.
In 2021 the total market studied by COMvergence was $12.5 billion, this total studied market includes 20 agency networks and one independent agency, which represents 87% of the market at $10.9B.
In 2021 the media agencies across saw $4.5B in digital spends and an average of 42 % in digital share across agencies. The average growth rate of agencies for 2021 vs 2020 was 24%.
The Media Agency Groups were led by GroupM with $ 5.3B billings and 42.9% industry market share, IPG Mediabrands with $ 1.8B billings and 15.1% industry market share and Publicis Media with $ 1.3B billings and 10.6 % industry market share.
The ranking for the individual agencies was led by Mindshare with a considerable margin at $ 2.2B total billings with a industry market share of 17.9%, followed by Wavemaker $ 1.3B total billings with a industry market share of 10.7% , very closely followed by Lodestar at $ 1.0B with a industry market share of 8.1%.