By John Glenday-02 February 2021 10:00am
Media offsets creative losses as global new business dips 5.8%
Global new business revenue for the marketing industry fell 5.8% in 2020 while creative new business slumped 12.6%, according to marketing consultancy R3’s year-end New Business League, which credits an increase in the media business for partially offsetting declines that could have been far worse.
In holding group terms, it was WPP that emerged as the news business champion, outperforming its rivals to draw twice the revenue and twice the wins of its nearest competitor.
Media offsets creative losses
Despite the impact of lockdown, home working and a broader economic knock, new business for the marketing sector was down a relatively benign 5.8% worldwide last year.