EssenceMediacom is top UK new-business performer

EssenceMediacom was the top-performing UK agency in new business in 2023, with a total new-business value, including retentions, of $261m, according to COMvergence’s UK New Business Barometer.

This was down to winning or retaining 14 accounts during the year, including Paddy Power and Sky Betting & Gaming in the UK, and Tui as part of a multi-market review.

That said, the WPP agency also lost the most business among its peers in the top six.

2023 total new-business rankings (including retentions)

Hearts & Science was close behind in COMvergence’s rankings, with a total new-business value of $258m. Notable wins in 2023 include the UK business for new National Lottery operator Allwyn and the global Jaguar Land Rover account.

The7stars was the only independent to make it into the top six, with new business valued at $127m.

Excluding retentions to look solely at new wins, Hearts & Science was number one by a wide margin in 2023, with new business worth $241m once losses were taken into account.

2023 net new-business rankings (excluding retentions)

COMvergence analysed 184 account moves and retentions in the UK in 2023, totalling $2.1bn in value.

Retentions accounted for just 23% of that spend, compared with 40% in 2022, suggesting more advertisers were inclined to move their business elsewhere last year.

The largest review in the UK in 2023 was Allwyn, an account valued at $186m, followed by Flutter Entertainment at $148m and Nestlé at $114m.