This article originally appeared in Campaign US
Overall new business is down 29.9 percent in January to March 2020 versus the same period last year, figures from R3 Worldwide confirm.
The consultancy group’s latest statistics on wins and losses cements the ugly truth of COVID-19’s economic impact on advertising.
Global creative assignments have taken the biggest hit, with a revenue decline of 33.7 percent.
Greg Paull, principal at R3, said: “This decline won’t get any better through Q2 as more and more marketers delay, defer and de-prioritize activities, including agency reviews. The message to agencies is clear – hunker down for an annus horribilis.”
Top 10 Creative Wins – US/March 2020
Top 10 Media Wins – US/March 2020