According to RECMA's report on global independent media agencies, Madison Media ranks fourth.
The Indian media agency was ranked fifth last year.
The agency topped RECMA's qualitative ranking chart in vitality (based on comp pitches – new biz wins vs losses and momentum – awards, agency seniors, industry share).
Madison Media has 8% of the market share in India and saw a 25% growth in 2022 over 2021. It employs 1,050 staff members.
Sam Balsara, chairperson, Madison World, said, "We have grown over 35 years because of the faith and trust reposed in us by our clients. I would like to thank all our clients and Madisonites, who have been part of this journey and helped us survive and thrive in this highly competitive market. While we've scaled up over the years, we've always kept Madison values at the core of our work."
Vikram Sakhuja, partner and group CEO, Madison Media and OOH, added, "We always knew we were India's largest independent media company. The fact that RECMA ranks us as the most successful independent agency in the world yet again and this time moving to the fourth spot, is indeed awesome."
RECMA is an independent global rating agency that publishes reports on media agencies worldwide.