The news: The largest agency groups are capturing the bulk of new business wins, raising the stakes for differentiation for independent agencies and holding companies outside of Publicis, Omnicom, and WPP.

Publicis CEO Arthur Sadoun noted the “reshaping of our industry around three global players” in the company’s Q3 earnings, which is “creating favorable conditions for our future growth.”

• Publicis Media saw the highest volume of business wins in H1 2026, per COMvergence’s Global New Business Barometer, generating $3.24 billion in new business value.
• That was followed by Omnicom ($3.15 billion in total new business value) and WPP Media ($2.98 billion).
• The concentration extends beyond the largest global accounts: Sadoun pointed to COMvergence’s data showing that over 90% of local wins in H1 went to one of the three major holdcos.

The trend: The concentration of global media business under three major holding companies reflects a broader push toward integrated media services and sophisticated tech offerings, which favors agencies with the resources to deliver them at scale.

• Centralized media solutions and integration are increasingly seen as essential to many clients. This unites multiple capabilities under a single client relationship. One such example, Publicis’ Connected Media, represented 62% of the holdco’s total net revenues in Q3. This gives holdcos a way to pitch a broader range of services than an individual agency might offer on its own.
• Demand for AI-powered solutions and data capabilities is growing. As holdcos face competition from tech platforms and the rise of in-housing, integrated AI and data offerings help strengthen their value to stay competitive. These investments may be easier to support across a large network of clients for agency groups.

Implications for marketers: The concentration of global accounts under the big three doesn’t mean these groups are the ideal fit for every marketer, raising the importance of evaluating partners based on specific needs rather than scale alone.

• Larger holdcos may be better suited to marketers seeking integrated media, data, and AI capabilities across multiple markets or channels, particularly when consolidating agency relationships is a priority.
• Smaller groups and independent agencies may be a stronger fit for marketers prioritizing specialized expertise or closer collaboration, provided those partners can meet the campaign’s scale and measurement needs.

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