TOP OF THE CHARTS: ‘Increasingly piecemeal’ assignments sent creative revenue plunging by nearly 17%, but media firms saw a 5.4% revenue increase
Creative, media, and digital agencies reaped 10% less new business revenue in 2017 than in 2016, according to independent consulting firm, R3. The company tracked 7,400 new business wins from more than 700 agencies globally.
The total number of wins for creative agencies increased slightly (from 4,688 to 4,840), but year-over-year revenue fell 16.9%. Media agencies saw the inverse: The number of wins decreased by 24%, but revenue grew 5.4% over the previous year.
“As we tracked through the year, creative assignments are becoming increasingly piecemeal in size and the search continues to be on for longer-term AOR assignments,” said Greg Paull, principal of R3.
IPG more than doubled estimated revenue generated by new business wins, largely driven by the strong performance of McCann WorldGroup, which was the top creative agency in the US and globally. WPP’s new business revenue increase was driven by Mediacom and Mindshare.
McCann and Mediacom were the top new business winners globally
US business dominates the top 10 global creative wins table.
Mediacom took three of the top 10 media wins, Dentsu Aegis Network two.
Source: campaignasia
