linkedin The New Business League has been compiled with the assistance of R3. Data from a number of multi-national agencies is collected and collated on a monthly basis and the collated data is balanced against client estimates, Nielsen ADEX, discounted to appropriate levels and then converted to a revenue estimate by R3. Please note that R3 does not audit the data provided by the agencies or the published results. All comments and queries should be sent to greg@rthree.com.
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.
The November 2020
Campaign India ‘New Business League’ data by R3 shows some concerning numbers. The total number of business won by advertising agencies between January to November 2020 was Rs. 308.6 crores, down by 44.8% as compared to the same period in 2019. However, the total number of businesses won by agencies is down just by 4.6% It’s no secret that Covid-19 has hit brands hard; the corresponding dip in the number of business wins isn’t proportional to the size of the shrunken budgets, and that’s worrying. On a sombre note, Naresh Gupta, managing partner and chief strategy officer and independent agency Bang In The Middle doesn’t expect any miraculous recovery in 2021. He foresees more pressure, culminating in more work and lesser compensation for ad agencies. It’s important to note here, that clients, too are under immense pressure thanks to the pandemic.
linkedin The New Business League has been compiled with the assistance of R3. Data from a number of multi-national agencies is collected and collated on a monthly basis and the collated data is balanced against client estimates, Nielsen ADEX, discounted to appropriate levels and then converted to a revenue estimate by R3. Please note that R3 does not audit the data provided by the agencies or the published results. All comments and queries should be sent to greg@rthree.com.
linkedin The New Business League has been compiled with the assistance of R3. Data from a number of multi-national agencies is collected and collated on a monthly basis and the collated data is balanced against client estimates, Nielsen ADEX, discounted to appropriate levels and then converted to a revenue estimate by R3. Please note that R3 does not audit the data provided by the agencies or the published results. All comments and queries should be sent to greg@rthree.com.