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Agency new business down 10% overall for 2017
19 Mar
Independent consulting firm, R3 research shows that 2017 was a declining year with 10% less new business revenue won
2017 proved to be a declining year for creative, media, and digital agencies overall, with 10% less new business revenue won compared to 2016, according to research by independent consulting firm, R3. The company tracked 7,400 new business wins from more than 700 agencies globally. Despite a slight increase in the total number of wins for creative agencies in 2017 (4,840 vs. 4,688 in 2016), the YoY revenue is down 16.9%.
Media agencies saw the inverse trend, with the number of wins decreasing by 24% while revenue increased by 5.4% over the previous year.
However, 2017 proved to be a positive year for WPP and IPG, who saw significant gains over 2016.
IPG more than doubled their estimated revenue generated by new business wins this year, largely driven by the strong performance of McCann WorldGroup, who was the number one creative agency for both the United States and globally.
WPP’s new business revenue increase was driven by their media agencies Mediacom and Mindshare.
Mediacom was the number one agency globally, as well as in the US, Europe, and LATAM, with Mindshare taking the top spot in APAC. On the creative side, WPP’s Ogilvy was the top agency in the Asia Pacific.
To find out the top global media and creative wins, click here!
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The company tracked 7,400 new business wins from more than 700 agencies globally. Despite a slight increase in the total number of wins for creative agencies in 2017 (4,840 vs. 4,688 in 2016), the YoY revenue is down 16.9%.
