Mediabrands India clocks new business wins worth $48 mn in H1

Volkswagen, Hewlett Packard, Levi’s, Oppo and Spotify, among account moves that dominated the Indian market from January 2024 to June 2024, as per COMvergence New Business Barometer H1 2024

by e4m Staff
Published: Sep 27, 2024 1:01 PM | 1 min read

Mediabrands India has registered new business value worth over $48 million in H1 of 2024, according to COMvergence New Business Barometer H1 2024.

Among the 72 moves and retentions with media spends estimated to be $352M, assessed by COMvergence in the Indian market for this period, only 5 were global, as per the report.

Multi-market pitches, as per the report, has new business value of $76 million. The report also says 67 accounts were moved and pitches with a new business value of $276M were all local in nature.

COMvergence has put an independent research and data consultancy, which analyses media spend investments and produces benchmark studies on new business performances, and Billings and Market share of media agencies, released its New Business Barometer report for India covering the time- period from January 2024 to June 2024 (H1 2024) including retentions.

Volkswagen, Hewlett Packard, Levi’s, Oppo and Spotify, were among some of the account moves that dominated the Indian market from January 2024 to June 2024.

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.

IPG Mediabrands, the media holding company within Interpublic Group, announced the opening of its new global centre of excellence office in Pune in August.