Omnicom Media Group: Driving Growth in 2024

Omnicom Media Group (OMG) has been projected to outperform its peers in 2024, according to a new report by COMvergence. This impressive growth can be largely attributed to the exceptional performance of OMG's agency networks, particularly PHD and OMD. PHD topped the global agency rankings with $3.63 billion in total new business, successfully retaining key clients like Volkswagen Group, Sainsbury's, and HP, while also securing incremental wins such as Priceline and David Yurman. OMD, on the other hand, was the #1 agency network in North America for net new business, with wins including Gap Inc. and Michelin. Both PHD and OMD have leveraged OMG's Agency as a Platform model, enabling a flexible ecosystem of talent, capabilities, and technology across all OMG agencies. This strategic approach has allowed OMG to win 28% of the $29.5 billion in business awarded during Q1-Q3, while maintaining a low share of losses.

OMG's success in 2024 can be attributed to its Agency as a Platform model, which leverages a flexible ecosystem of talent, capabilities, and technology across all OMG agencies. This approach enabled OMG to win 28% of the $29.5 billion in business awarded during Q1-Q3, the highest share among all groups, while maintaining a low share of losses at 5%. In contrast, other media groups may rely more heavily on traditional agency structures, limiting their ability to adapt and innovate. Additionally, OMG's strong retention rate of 85% demonstrates its ability to maintain client relationships, further driving its growth.

OMG's exceptional performance in 2024, as highlighted in the COMvergence report, can be largely attributed to its impressive retention rate. OMG successfully defended 85% of its billings in review, demonstrating its ability to maintain and strengthen client relationships. This retention rate is significantly higher than the industry average, indicating OMG's superior client satisfaction and service quality. Moreover, OMG's retention rate has contributed to its overall growth, as it has concurrently expanded its client roster. This balance between retention and new business has positioned OMG as a leader in the media management sector.

OMG's success in 2024, as highlighted in the COMvergence report, can be attributed to its innovative use of technology and data-driven insights. By leveraging its Agency as a Platform model, OMG has created a flexible ecosystem of talent, capabilities, and technology across all its agencies. This approach has enabled OMG to win 28% of the $29.5 billion in business awarded during Q1-Q3, the highest share among all groups, while maintaining a low share of losses at 5%. In contrast, other media groups may not have fully embraced or integrated such a comprehensive, data-driven approach, allowing OMG to outperform its peers in terms of rate and volume of growth.

In conclusion, Omnicom Media Group's innovative approach to media management, driven by its Agency as a Platform model, has positioned it as a leader in the industry. With a strong focus on retention, innovation, and data-driven insights, OMG has outpaced its competitors in terms of rate and volume of growth in 2024. As the media landscape continues to evolve, OMG's strategic approach and commitment to client satisfaction will likely continue to drive its success in the years to come.