COMvergence an independent research and data consultancy, which analyses media spend investments and produces benchmark studies on new business performances, released its latest New Business Barometer for the FY 2021 for India.
According to the report, the Media Agency Groups were led by GroupM with a total new business value of +$1028M, followed by Publicis Media Group at +$188M new business value and dentsu International with a new business value of +$161M respectively.
Mindshare from the GroupM umbrella led the media agencies’ ranking by a large margin followed by Wavemaker at the second rank, followed by Starcom, Initiative and Madison Media.
In 2021 COMvergence assesed an overall of 332 account moves and retentions in India with media spends estimated to be around $2.3BN. This figure (of around $2.3BN) represents about 25% of the Indian media agency billings ($9.2B), whilst the retention rate for India is 43% for 2021.
Around $922M were from global and multi-country pitches and $1338M were local pitches in 2021.
Unilever, Coca-Cola, L’Oréal and Meta ( formerly Facebook), PhonePe, CRED, Viacom, Perfetti, Tata Consumer Products, Rohit Surfactants Private Limited (RSPL),Oppo Electric Corp, Ola (Electric) were among some of the account moves that dominated the Indian market in 2021.
