GroupM India leads new business in H1
COMvergence has analysed 72 moves and retentions with media spends estimated to be $352 million in the Indian market for the Jan-June 2024 period
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Published: Sep 27, 2024 12:10 PM | 1 min read
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GroupM has clocked new business worth over $ 83 million in H1 of 2024, as per the COMvergence New Business Barometer report.
COMvergence has analysed 72 moves and retentions with media spends estimated to be $352 million in the Indian market for the period January 2024 to June 2024.
The report says only five were global and multi-market pitches with a new business value of $76 million. Of these, 67 accounts moved and pitches with a new business value of $276 milllion. These were all local in nature.
This places India above the global average of local pitches which were at 65% whereas India saw 78% of the total pitches being local in nature ( country specific pitches).
In H1 2024 (January 2024 to June 2024), COMvergence assessed more than 1,740 media account moves and retentions (1,210 advertisers in total) across 49 countries totaling $16.4B globally.
Meanwhile, GroupM's Advanced TV universe has grown by 24.1% in the first half of the year.
Volkswagen, Meesho, Hewlett Packard, Levi’s, Oppo, Spotify, were among some of the account moves that dominated the Indian market from January 2024 to June 2024, the report has showcased.
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