Indie agencies rewrite the media playbook in APAC

Independent media agencies are gaining ground in the Asia-Pacific region, even as WPP Media cements its dominance in India. COMvergence’s latest Billings and Market Share report underscores both trends. While WPP Media commands 40% of India’s $16 billion media agency market, independent agencies are carving their own space, especially in APAC’s dynamic markets.

Globally, WPP Media — rebranded from GroupM in May 2024 — tops the chart with $64.6 billion in billings, ahead of Publicis Media at $54.7 billion and Omnicom Media Group at $45.6 billion. Together, these three account for 71% of global billings among the six largest holding companies. Among individual agencies, Omnicom’s OMD leads globally with $26.3 billion, trailed by EssenceMediacom at $24.6 billion and Mindshare at $21.9 billion.

Yet the story in APAC reveals a more complex landscape. COMvergence’s founder and CEO Olivier Gauthier attributes the resilience of independent agencies to their agility, personalisation, and cultural fluency. "Globally the larger media groups have been reinventing themselves, through streamlining their offerings and investing more in data capabilities," Gauthier told Campaign.

"What we have observed is that they have made great efforts towards developing and investing in building their 'Tech stack' at group levels and offering integrated offerings to clients, at the same time focusing on speed and agility to keep up with the fast-changing digital environment. This is what percolates down to the local markets as well," he added.

WPP’s unfailing dominance

WPP’s hold on India remains substantial. The rebranding of GroupM to WPP Media is emblematic of its integrated media-marketing push, backed by WPP Open, its AI-enabled marketing platform.

With a stated annual investment of £300 million in AI and partnerships, WPP Media claims to manage over $60 billion in annual media investment globally. Its agencies—Mindshare, Wavemaker, and EssenceMediacom—operate with shared tech infrastructure, enabling cross-client efficiencies.

WPP’s success in India is underpinned by its large portfolio spanning FMCG, telecom, auto, and ecommerce sectors. The firm’s adaptability is reinforced by India’s surging digital media spending, which has risen from 42% of agency billings in 2021 to 52% in 2024, amounting to $6.8 billion. COMvergence places India’s total media agency market at $16 billion.

Talking to Campaign, Priyanka Mehra, regional director-South Asia and India of COMvergence identified FMCG, fast fashion, and auto as the sectors driving this digital shift. "The Indian trajectory is distinct; there has been a marked increase in the digital spending in the FMCG, fast fashion and auto categories. An increase in quick commerce platforms and marketplaces are leading to more spaces for 'Product Discovery' as well as 'New Brand Launches' leading to a surge in ecommerce spends," she said.

Gauthier believes that Publicis Media is making strides to challenge WPP’s dominance. "As we published in our 2024 Marcom Agency Acquisitions Benchmarking Study 2024, among the Big Six, Publicis Groupe led with a clear focus on acquiring digital and data-centric businesses to enhance service offerings globally," he said.

The indies have it

In India, Madison Media leads the independent pack, reporting $970 million in billings and ranking fifth overall. COMvergence's report, which tracked 135 independent agencies globally, notes that these agencies collectively generated $30.9 billion in 2024, accounting for 12% of total global billings.

Mehra pointed to Australia as a standout APAC market for independent growth. "There is a significant burgeoning of agencies in USA, and closer to home in the APAC region Australia is one of the fastest growing independent agency markets for us," she said.

In India, however, independent agencies face a different competitive terrain. Nikhil Rangnekar, CEO of Media Circle, an integrated ad and marketing agency, stressed that independents cannot compete with network giants like WPP on cost alone.

"Independents can move faster, pivot quicker, and custom-build strategies without layers of red tape. This speed-to-market is a crucial asset in today’s dynamic consumer landscape. Independents greatest advantage is to deliver be-spoke and customised solutions, as compared to a global network, which usually delivers a blanket mass approach to offering strategies and solutions to a marketing problem," he said.

A former CCO who has launched his own agency reinforced this, adding that independents offer flexible pricing linked to performance and full media transparency, features often lacking in legacy networks. "Cost is no longer the hook for most brands—clarity, ownership, and speed are. Clients today increasingly value fresh thinking over formulaic buying muscle," he noted.

Eye on outcomes, not price

Independent agencies in India have anchored their value around modularity, agility, and brand proximity. And Vaibhav Jain, head of media—first economy at White Rivers Media, believes that they can continue to thrive by staying close to business outcomes.

“In a market where networks operate at scale, independents thrive by staying close to business outcomes, not just media objectives. Their ability to adapt quickly, bring in cross-functional talent, and integrate into client teams gives them a clear edge,” Jain said.

This is also why COMvergence is expanding its metrics to better evaluate such capabilities. "Over the past nine years, COMvergence has successfully developed and launched a broad range of products to analyse and measure the performances and strategic developments of the global MarCom holding company agencies, major independents, and largest management consultancy firms," Gauthier said. These tools include the Benchmark Performance Index, a qualitative dashboard for advertisers and subscribers that COMvergence is enhancing further.

Eyes on CTV 

Globally, the media landscape may see more consolidation, with the potential Omnicom-IPG merger on the horizon. Yet COMvergence data indicates that independents continue to find space to thrive, particularly in markets where agility and customisation are prized.

Rangnekar believes that the future of independents lies in evolving from media buyers to media growth architects. "To remain resilient, relevant, and indispensable, they should help clients decode complex platforms like JioAds, Amazon DSP or regional OTT, with sharp, outcome-based planning and not just channel booking," he said. "They should offer brand and performance consulting, not just campaign execution."

Some independents are already repositioning themselves accordingly. Jain noted that White Rivers Media is investing in AI models to improve efficiency across teams, creative output, and cost structures. “Structurally, we remain lean but highly collaborative—plugging in technology, AI, creative, commerce, content, and analytics expertise as needed. In today’s landscape, being fluid and deeply aligned with a client’s business journey is the real moat,” he said.

With India’s digital economy expanding — propelled by smartphone penetration, ecommerce growth, and CTV adoption — the media agency model is evolving. Rangnekar summarised the imperative for independents: outcome-based models, flexible compensation tied to metrics like ROAS, CAC, or incremental reach, and transparent, real-time dashboards.

The rise of Connected Television (CTV) is another significant trend. The shift from Linear TVs to CTV viewing has led to an increase in digital advertising as it has opened up an entirely new arena of opportunities for advertisers to tap into, according to Mehra. Sports advertising, particularly cricket, has further fuelled growth in both TV and digital channels.

The competitive dynamics between network agencies and independents are unlikely to settle soon. What is clear, however, is that the playbook is changing. Agencies that integrate technology, data, creativity, and consultative expertise stand to define the next growth chapter in India's and APAC's media markets.