Mindshare Leads the Charge: Record Wins and Industry Shifts in Australian Media Agencies

Mindshare's Dominance in New Business Wins

Mindshare has set the pace for new business wins in Q1-3 of the calendar year, according to data from the media billings doyens COMvergence. The GroupM-owned agency won seven new clients over the first nine months of the year, amassing a total of $55 million in new billings.

Maria Grivas, CEO of Mindshare, expressed pride in their success: "This speaks volumes to the impact we have been able to demonstrate through our Good Growth proposition. Our incredible team is genuinely invested in growing our clients’ brands and businesses."

Major Wins

The biggest win was Nestlé, valued at more than $35 million over the Q1-3 period, which could rise to over $50 million. The agency's OpenMind solution played a significant role in securing this account, showcasing a strong understanding of the Nestlé business needs.

Retention vs. New Business

While Mindshare's numbers reflect pure new business wins, IPG’s UM tops the pile when client retentions are included, amassing nearly double the value of billings. UM's notable wins include Levi's Jeans and Target Australia, with the Federal Government's Master Media Account standing out at a healthy $135 million.

Rising Agencies

In July, Zenith was reported to have grown its billings by a quarter in 2023, bringing in $23 million of net new billings this year. Half Dome emerged as the top-performing indie agency, bringing in $40 million in net new billings.

Challenges for Initiative

2024 may prove challenging for Initiative, facing notable account losses including LEGO and Amazon, valued at approximately $70 million in Australia. Despite winning the near-$20 million DuluxGroup account, the losses are significant.

COMvergence remains a leading global research firm specializing in providing insights into the media and advertising landscape, aiding agencies and advertisers in understanding competitive dynamics and trends.