An 8.4% Increase in Creative Investment Throws Light On A Relatively Muted 2023 Global New Business Landscape

The Global Creative and Media new business landscape for 2023 proved to be relatively muted despite marque accounts like Pfizer, Uber, and Kimberly-Clark put under review. The number of total accounts awarded decreased 2.9% year-on-year while overall value increased 5.3%. Publicis Groupe leads the New Business League holding group rankings for 2023, with its win of Pfizer pushing it past WPP; its closest competitor for the last eight years.

 

The value of Creative accounts globally increased in 2023 by 8.4% across a 13.7% decrease on volume. Holding companies accounted for most of those wins, with Publicis Groupe, WPP, and Interpublic Group leading in that order. Three independent agencies (Wieden+Kennedy, M&C Saatchi Group, and Mother) rounded the top 20 Creative New Business League.

Media contributed less to revenue, with 17.1% more accounts awarded on a value that increased only 0.4% on the previous year. Publicis Media, OMD and Zenith led in Media volume, and Publicis Groupe, Omnicom, and WPP took the top three places for Media in the holding company rankings.

US Invests in Creative, While Asia Looks to Media

The global trend of higher-value Creative accounts is best witnessed in the US (+28.9%). In Europe, Asia Pacific, and China, Creative new business recovery was slow with companies putting less accounts into review and allocating smaller budgets.

The inverse can be said for Media. The US registered a 187% increase in number of media reviews at a 14.5% decrease in overall value. China’s Media landscape remained strong with fewer accounts competing for 38% more Media revenue.

“It’s becoming clearer where marketers prioritize Creative and Media,” says Greg Paull, Principal & Co-founder at R3. “In the US and Europe, there’s growing interest in the impact of creative effectiveness on overall business growth and cultural relevance; placing a premium on impactful and innovative creative work.”

“In regions where connected platforms are more critical to customer engagement and conversion, media is more important. Particularly with partners that can offer CRM and data solutions. China and Asia-Pacific are two examples where media revenue is strong, and less investment finds its way to creative partnerships.”

Looking Forward to 2024

  • A New Leaderboard: Network consolidation in 2023 will change the new business landscape going forward. Titans – whoever is the biggest or with the most integrated offerings – are likely to dominate the top 3 rankings, with overall year-to-date revenue significantly dropping after the top 10.
  • Account Values Being Disrupted by Gen AI: Marketers are already working hard to understand the implications of Generative AI on account resource and fees. “The affect will be incremental and hugely dependent on how quickly we can establish a benchmark for the industry,” says Paull. “Once marketers get visibility on its impact, we’ll start seeing changes in scopes of work and value.”
  • Relationships Trump Size & Tech: The time-tested KPI of good relationship management will determine the longevity of partnerships. “Empires are not sustained by words, but by action,” says Paull. “The most advance platforms and the greatest diversity in capability won’t be able to salve poor account management. The aim of any agency should be to prevent their clients from falling out of love with them. This is the secret power of independents.”

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The APPIES is an annual event that presents a rare opportunity for creative, media, digital and marketing agencies or brands to present their best campaigns to the industry.

This is the only event where Live Presentations meets Live Judging.

Similar to TED Talks, The APPIES is the chance for great presenters with outstanding work to show it off to some of the industry’s most important industry leaders.

This year’s winners will receive Gold, Silver or Bronze trophies for 21 categories, and 6 special Best of Best categories (red trophies) that require no submissions!

Campaign entries must have run between June 2023 to May 2024

Submissions Deadline
30th June 2024

APPIES Festival – Judging & Presentations
11th – 12th July 2024 (Malaysia)

 

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