India: March 26, 2025 – COMvergence an independent global research firm, which analyses media spend investments and produces benchmark studies on new business performances, released its latest New Business Barometer for 2024 for India.
In 2024 COMvergence, assessed an overall of 157 account moves and retentions, with media spends estimated to be around $1.1BN.
For India in 2024 Local pitches ( country specific pitches) were 62%, of the total pitches, in line with the trend of local pitches at 60% globally this year.
Amazon, Tata Motors, Kenvue, Tata Consumer Products, Volkswagen, Meesho, Hewlett Packard, Levi’s, Oppo, Spotify were among some of the significant account moves and retentions that dominated the Indian market from January 2024 to December 2024.
GroupM continued to lead the media agency groups by a wide margin with a total new business value of +$447M, followed by Omnicom Media Group at +$183M new business value and Publicis Media Group with a new business value of +$71M.
GroupM wins included Amazon and Tata Consumer Products; Omnicom Media Group wins included Tata Motors, Volkswagen and HDFC Life; Publicis Media Group’s wins included Kenvue and Relaxo Footwear.
Wavemaker, Spark Foundry, PHD, Madison Media and EssenceMediacom led the media agency roster.
In 2024, COMvergence globally assessed more than 3,900 media account moves and retentions (2,300 advertisers in total) across 48 countries totaling $39B (+11% vs. 2023).
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