GroupM tops India leaderboard in business wins: COMvergence report
The media spends were estimated to be around $1.5 billion
COMvergence has released its latest new business barometer for FY 2022.
India saw a lower number of account moves and retentions this year. The media spends were estimated to be around $1.5BN as compared to a higher number of account moves in 2021.
In 2022, 66% of the total pitches held globally were local in nature (country-specific pitches). India was well above this average with 81% of total pitches being local, which is $1286M, whereas global and multi-country pitches made up 19% of the pie with $297M in 2022 for India.
Mondelez, Pepsico, ITC, Nestlé, Meesho, Lenovo, Hyundai-Kia, NPCI, Abbott Nutrition, Rebel Foods and Truecaller were among some of the account moves that dominated the Indian market in 2022.
The Media Agency Groups were led by GroupM with a totally new business value of +$332M, followed by Publicis Media Group at +$289M new business value and dentsu International with a new business value of +$194M, respectively.
Zenith from the Publicis Media Group stable and Wavemaker from the GroupM umbrella led the media agencies’ ranking, interestingly the 3rd rank was tied between Initiative, Havas Media and Spark Foundry ( Publicis Media Group) followed by Madison Media and Carat.
