GroupM, IPG Mediabrands and Publicis Media were the leading media agency groups in India in 2021, as per the recently published COMvergences’ Billings and Market Share report.
COMvergence, an independent research and data consultancy which analyses media spend investments and produces studies on new business performances, and billings and market shares of media agencies, has released its latest report for FY 2021 for India.
The media agency groups were led by GroupM with $ 5.3 billion billings and 42.9% industry market share, IPG Mediabrands with $ 1.8 billion billings and 15.1% industry market share and Publicis Media with $ 1.3 billion billings and 10.6 % industry market share.
The ranking for the individual agencies was led by Mindshare with a considerable margin at $ 2.2 billion total billings with an industry market share of 17.9%, followed by Wavemaker $ 1.3 billion total billings with a industry market share of 10.7% , very closely followed by Lodestar at $ 1 billion with a industry market share of 8.1%.
In 2021, the total market studied by COMvergence was $12.5 billion, this total studied market includes 20 agency networks and one independent agency, which represents 87% of the market at $10.9 billion.
In 2021, the media agencies across saw $4.5 billion in digital spends and an average of 42% in digital share across agencies. The average growth rate of agencies for 2021 vs 2020 was 24%.