EssenceMediacom secured new businesses worth Rs 300-400 crore in H1 2024

One and a half years after GroupM brought together its two agencies to form EssenceMediacom, the merged agency has secured over Rs 1,000 crore in new businesses.

“This year we have secured Rs 300-400 crores in new businesses by June. With the market slowing and existing clients reducing, acquiring new clients is crucial for sustaining growth,” said Navin Khemka, CEO, South Asia, EssenceMediacom.

In an earlier interview, Khemka said prior to the merger , the agencies would add around Rs 600 crores in new business annually. However, post-merger, in the last year alone, it achieved nearly Rs 800 crores in new businesses.

The agency recently won the media mandate for the Indian cement producer Wonder Cement and helped it become the official umpire partner for the IPL for five years.

EssenceMediacom provides clients with comprehensive guidance and activation across the entire spectrum of the consumer journey. Its services extend beyond basic media services to specialised practices, including e-commerce, performance, and creative futures. However, it is not offering these services to all its clients.

“We don't offer new services to all clients—only to those who need and value them. We are still building these services. We have a small team and around 100-200 clients. We need to focus on clients who truly benefit. It's a slow and steady approach. A one-size-fits-all strategy won't work. It depends on the brand's maturity and needs,” he said.

At the recently concluded Goafest, EssenceMediaCom walked home with a Grand Prix in the Use of Media category in Innovative use of Branded Content Integration for Look Maa! I'm on TV for Airtel. 

The agency was launched on January 31, 2023 with an ambition to deliver marketing breakthroughs for its clients. Disrupting the old models across media, creative, innovation and analytics, the agency has been built to find new opportunities for brands and deliver truly integrated media solutions. It combines Essence’s performance, data, analytics and creative technology DNA with MediaCom’s scaled multichannel audience planning and strategic media expertise.

GroupM’s youngest and largest agency was launched with a client roster of global and local clients, responsible for more than $21 billion in global media billings.

“The biggest achievement in 2023 was uniting the leadership team, employees, clients, and businesses. We retained all existing clients, added new business, produced excellent work, and won three Agency of the Year awards. This demonstrates that when two strong brands come together, they can create magic,” Khemka said.

After last year’s merger, 2024 is set to be a year of consolidation. “We aim to bring all the pieces together and become India's number one agency,” he said.