Global Media Landscape: Insights from the latest COMvergence report

Media & Advertising Industry News

Jul 19, 2023 | Philippe Dominois

Global Media Landscape: Insights from the latest COMvergence report

The rapid evolution of the media landscape is no stranger to us at Abintus. As we continue to guide our clients through the intricate maze of global media agency landscape, our partnership with COMvergence offers an analytical compass. Their most recent "Global & Regional Billings Rankings & Market Shares" report for 2022, released this month, is another milestone in understanding the global media market's movements.

The report's depth and breadth are commendable, spanning 46 countries which account for a staggering 96% of the global media spend. It's a significant resource for understanding global media landscape trends and shifts.

Here are our key takeaways from their latest report.

1. Global Billings & Growth

2022 witnessed global billings managed by the renowned Big 6 media agency networks, as well as significant independent media agencies, touching a substantial $239B across 46 markets. This figure paints an optimistic picture, representing a 5.8% growth against the previous year.

Notably, the 2022 total agency billings account for approximately 60% of the global media spends estimated at $401B, marking a 6.4% growth since 2021.

2. The Rising Tide of Digital Media

The tide of digitalisation has been strong. The report accentuates this with digital media billings amassing a significant 48% of the total agency billings for 2022, a noticeable rise from 43% in 2021 and 39% in 2020.

The surge in digital media billings underscores the broader shift from traditional media channels to digital ones, a pivot primarily stimulated by the pandemic. Industries like retail and finance, in particular, are directing their media budgets more into digital media channels.

3. Independent Agencies: Gaining Ground

While the 'Big 6' are dominant players, independent agencies are showing remarkable momentum. Collectively, the studied 107 local media agencies represent 2022 billings of $25.5B. Horizon Media (US) alone accounts for $7.7B, reflecting the strength and growth potential of independent agencies.

Collectives like Local Planet, housing multiple independent media agencies, showcase billings of $11.6B, further illustrating the might of independents.

4. Regional Distributions & Structural Changes

The report offers fascinating insights into regional breakdowns: North America (39%), APAC (34%), EMEA (25%), and Latin America (2%). These figures are integral for advertisers looking to target specific markets.

In structural news, Dentsu Group's announcement of a new global management structure and the merger between Essence and MediaCom (forming EssenceMediacom in 2023) are crucial highlights. These restructuring moves will have implications on future reports and the broader landscape.

5. Top Performers

OMD stands at the pinnacle as the top media agency network worldwide with billings valued at $22.5B. Following closely are Mindshare and MediaCom with billings worth $22B and $20B, respectively. The impending merger of Essence and MediaCom might change the playing field, as combined, they could potentially lead the 2023 rankings with an estimated billings of $25B.

At the group level, GroupM retains its commanding lead with a global billing of $69.9B. Publicis Media and Omnicom Media Group follow suit with billings of $45.7B and $38.3B, respectively.

Want to Know More? Next Steps

Abintus, in partnership with COMvergence, is devoted to providing unparalleled insights into the global media landscape. With the modern format of the COMvergence platform, you can quickly delve into dynamic graphs, dashboards, and detailed insights to make informed decisions.

To access the complete Global Billings Rankings & Market Shares report, or individual market reports, inclusing a deeper insight into these numbers and their implications, feel free to contact COMvergence directly.

COMvergence doesn't just offer numbers; they provide a distinct and insightful reports on the MarCom industry. Their focus extends to creative and media agencies, as well as the convergences happening within holding companies. Take advantage of COMvergence to enhance your advertising strategy and make the most out of your media investment.

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