WPP Media dominated India’s $16-billion media agency market in 2024: COMvergence | Mint

Mumbai: WPP Media, formerly GroupM, has emerged as the top media agency group in India with $6.6 billion in billings in 2024, according to the latest Billings and Market Share report by COMvergence.

The report, which tracks agency-level billings across both global and Indian markets, puts IPG Mediabrands and Publicis Media in second and third place with $2.0 billion and $1.7 billion in billings, respectively.

The total market assessed by COMvergence in India stood at $16 billion, based on billings from 20 agency networks and two leading independents. The 2024 report also showed a significant uptick in digital media, with agencies clocking $6.8 billion in digital spends and digital comprising an average of 52% of total agency billings. That’s up from just 42% in 2021, marking a sharp 10-point swing in three years.

“There has been a marked increase in digital spends in the FMCG and auto categories, further boosted by the rise of quick commerce brands,” said Priyanka Mehra, regional director –south Asia & India at COMvergence. “The 52% digital share is no longer being driven just by social or video, it includes performance, retail media, and full-funnel commerce solutions.”

Within individual agencies, WPP entities took the top three spots. Mindshare led with $2.6 billion in billings, followed by Wavemaker at $1.8 billion, and EssenceMediacom at $1.7 billion. IPG’s Lodestar UM came in fourth at $1 billion, while Madison Media—India’s most prominent independent agency—rounded out the top five with $970 million in billings.

Growing consolidation

The report reflects increasing consolidation among global holding companies in India’s media planning and buying business, with WPP Media continuing to command significant market share despite recent organisational overhauls and the rebranding of GroupM under the WPP Media identity. Its India operations continue to house some of the country’s biggest clients across FMCG, telecom, auto, and ecommerce.

While IPG and Publicis have been growing steadily, particularly in digital and ecommerce-driven campaigns, the gap between the top group and the rest remains substantial. COMvergence’s analysis is based on agency-reported data, public disclosures, proprietary modelling, and client-agency relationships.

Globally, WPP Media retained its position as the largest media holding company with $64.6 billion in total billings. Publicis Media followed at $54.7 billion, and Omnicom Media Group came in third at $45.6 billion. Collectively, the top three represented 71% of total billings among the six largest holding companies. Among individual media agencies, Omnicom’s OMD led globally with $26.3 billion in billings, followed by EssenceMediacom at $24.6 billion and Mindshare at $21.9 billion.

Strategic growth market

India continues to be a strategic growth market for most global agency networks, given the scale of consumer marketing and the rise of digital-first sectors such as fintech, diect-to-consumer (D2C) brands, edtech and quick commerce. COMvergence’s report, though focused on the larger networks, offers one of the few structured overviews of the media buying ecosystem in India, where granular market-level data remains scarce and often unaudited.

The average digital share of 52% is also a sign of structural change, analysts said, indicating a move beyond traditional TV-led planning to omnichannel media strategies. Many agencies are also investing in full-funnel services that combine creative, content, media, and commerce, often led by tech-enabled offerings or proprietary tools.

Changing media landscape

COMvergence, founded by Olivier Gauthier, is considered one of the most independent and credible global sources for agency billings and market share benchmarking. Its data is used widely by procurement teams, holding companies, consultants, and M&A analysts.

The COMvergence report does not track smaller boutique agencies, independent digital shops or influencer networks, segments that are also growing but often operate outside the media buying framework of large clients. However, for networked agencies, the rankings offer a clear picture of leadership, scale, and competitive movement.

With marketers under pressure to drive growth, efficiency, and visibility in a fragmented media environment, the next phase of competition will likely be shaped by tech integration, measurement, and platform partnerships, areas where the largest groups have already made significant bets.