Omnicom Media Group to end 2024 with projected billings of $25.9bn

Fueled by a series of wins and retentions including those from Amazon, Volkswagen Group, Unilever, and HP, OMG won $7.37 billion in total new business in 2024, according to the Global & Regional Billings & Market Shares Projected 2024 report.

By  Storyboard18Dec 20, 2024 8:29 AM
Omnicom Media Group to end 2024 with projected billings of $25.9bn
In early November research and advisory firm Forrester named OMG a “Leader” in its Forrester Wave evaluating global media management groups - a report that saw OMG earn both the highest score among the 12 groups assessed in the report as well as endorsements from clients for its transparent business practices, trustworthy relationships, and the strength of its Omni operating system for media and business intelligence. (Image Source: Instahyre)

As reported in Global & Regional Billings & Market Shares Projected 2024 - a provisional analysis of 2024 billings for media agency networks and their respective owner groups published yesterday by independent research company COMvergence – Omnicom Media Group (OMG), the media services division of Omnicom and parent company to OMD, PHD and Hearts & Science global media agency networks, outperformed its peers in both percentage of growth (10.5 percent against a 2023 billings base of $40.6b ) as well as actual billings added (+$4.2b) bringing its projected 2024 billings to $44.8b.

The report also projects that OMG will end the year with the highest share of digital billings among all media groups - an indicator of the group’s ability to help clients transform their media strategies for an increasingly digitally driven consumer marketplace.

In early November research and advisory firm Forrester named OMG a “Leader” in its Forrester Wave evaluating global media management groups - a report that saw OMG earn both the highest score among the 12 groups assessed in the report as well as endorsements from clients for its transparent business practices, trustworthy relationships, and the strength of its Omni operating system for media and business intelligence.

Earlier this month, the COMvergence Global Media Agency New Business Barometer Q1-Q3 2024 revealed OMG as the #1 global media group for new business in the first nine months of the year.

Fueled by a series of wins and retentions that included Amazon, Volkswagen Group, Unilever, Priceline, HanesBrands, and HP, OMG won $7.37 billion in total new business (wins minus losses, including retentions) – representing 28 percent of all new business awarded the during the first nine months of the year - while also earning the highest retention rate (85 percent) in its category.

Commenting on the collective impact of these wins, OMG CEO, Florian Adamski, said, “There are four key characteristics for assessing true costumer obsession in a media agency group: the type of clients the business retains in a fast-paced marketplace, new clients deciding to put their trust into the business in a highly competitive environment, the way it conducts business on behalf of its clients and how it advances the business to contribute to broader industry progress. In 2024, OMG worked hard on each one of these proof points, leveraging our Agency as a Platform model to deliver customized solutions that drive business growth for our clients, our agencies, and our people in a complex marketplace.”

COMvergence projects that the biggest agency in OMG will again end the year as the biggest media agency in the world, with projected 2024 billings of $25.9B. This 7. 9 percent increase over 2023 represents both the best rate of growth among the top five agency networks as well as the largest net billings increase among all networks, with $1.9b added over the past 12 months. OMD also tops the billings rankings in North America and EMEA and delivered growth across every region.

The projected outcomes is the latest in a series of superlatives for OMD in 2024, including maintaining its position as the highest ranked media agency brand on the Effie Index, taking Media Network of the Year honors at Cannes, and sustaining a new business winning streak that included Gap Inc, Michelin, Turkish Airlines, AliExpress and MSC Cruises.

Commenting on the agency’s performance, OMD Worldwide CEO, George Manas, said, “These results reflect OMD’s ongoing transformation as we’ve redefined the role that we play in advancing our clients business ambitions. It’s an evolution that has taken us from service provider to media partner to marketing collaborator, working with our clients to co-create next gen solutions that unlock growth today and secure lasting competitive advantage.”

Joining OMD on the growth track, sister OMG agencies PHD and Hearts & Science posted growth across all four regions, and three out of four, respectively.

First Published on Dec 20, 2024 8:18 AM

More from Storyboard18

Agency News

KFC India in the hunt for a 'social first agency'

KFC India in the hunt for a 'social first agency'

Agency News

OMD India wins the integrated mandate of Piramal Consumer Healthcare

OMD India wins the integrated mandate of Piramal Consumer Healthcare

Brand Makers

EXCLUSIVE: Advertising industry bodies AAAI, ISA to set guidelines to tackle 'reverse auction', unethical practices

EXCLUSIVE: Advertising industry bodies AAAI, ISA to set guidelines to tackle 'reverse auction', unethical practices

Agency News

Digidarts bags the performance marketing mandate for Dabur

Digidarts bags the performance marketing mandate for Dabur

How it Works

The Outpost: Why Indian advertising leaders seem to struggle for global recognition

The Outpost: Why Indian advertising leaders seem to struggle for global recognition

Brand Makers

Regional content and personalization were the game-changers: Harsha Razdan, CEO, South Asia, dentsu

Regional content and personalization were the game-changers: Harsha Razdan, CEO, South Asia, dentsu

Advertising

Ogilvy's Piyush Pandey on EFFIE Agency of the Year win: Shows that the work is making a mark

Ogilvy's Piyush Pandey on EFFIE Agency of the Year win: Shows that the work is making a mark

Advertising

IPG's Rapport retains OOH media mandate for HUL

IPG's Rapport retains OOH media mandate for HUL