Publicis Media: $157M net new billings, festive spends hold

In the first half of 2026, COMvergence tracked 62 account moves and retentions in India, worth an estimated $838 million in media spend. Publicis Media led both the India and global new-business rankings, but its South Asia chief wants marketers to read a narrower figure: $157 million in net new billings.

That number excludes retentions. Lalatendu Das, CEO, Publicis Media, South Asia, told exchange4media that agencies often highlight totals that include accounts they already held. Retaining a client is not the same as earning a new one, he argued, so net new is the better test of momentum.

“If you want to assess an agency’s actual new-business momentum, you need to look at the latter.” — Lalatendu Das

01 · Power of One turns growth problems into integrated briefs

The win that illustrates the model is Raymond Lifestyle, where Publicis brought together Saatchi & Saatchi for creative, Zenith for media and Performics for performance. Das says the pitch started with the brand’s growth objective, not with a media or creative RFP. L’Oréal, Flipkart’s group including Myntra, Tata Consumer and Dhan have each drawn on a different set of capabilities, from commerce to performance.

For CMOs, this is a useful filter: a truly integrated pitch is not a slide. It is visible in which capabilities actually show up and follow the problem.

02 · Festive budgets: no dip, but ROI is the gate

Das describes the market as cautiously optimistic. Festive ad spending estimates are at least at par with last year, with no dip so far, and could improve as the season unfolds. FMCG, CPG, BFSI and fintech are showing the strongest momentum; retail’s big sale events are adding activity, while auto remains steady after last year’s GST-led uplift.

The gap left by gaming’s advertising pullback has been filled elsewhere, Das says. Startups have entered the market and existing advertisers have raised media budgets by more than 20%, so overall spending has grown even without gaming.

But brands are asking harder questions about returns. Large outlays are being weighed against expected outcomes, and that caution is shaping where money goes.

03 · Where the incremental rupee is moving

• Digital’s share rises while TV may still grow in absolute terms.
• Paid media is being mixed with earned, owned and shared formats, including paid boosting of influencer content.
• Rural and Tier III are back on the plan, from OOH to wall paintings.
• CTV is gaining because large-screen co-viewing meets digital measurement and commerce.
• Content and commerce are converging; a Dangal live-show integration let viewers add items straight to a Flipkart cart.

04 · Influencer marketing’s 10–15% problem

Das estimates only 10–15% of brands really know what they are trying to solve with influencers. The strongest use, he says, is when retailers shift performance budgets to influencers with affiliate codes, paying only when an app download or purchase happens. That closes the loop with data—something awareness-led campaigns cannot do as cleanly.

His advice: define the objective before choosing the influencer. If the job is broad awareness, paid YouTube may be cheaper; if the job is consideration, micro and macro creators can explain the product; if the job is conversion, closed-loop affiliate models work for retailers.

The danger is treating every problem with the same tool. “When all you have is a hammer, everything looks like a nail,” Das says.

05 · 2027 outlook: spending plans still point up

Publicis Media’s own spends have grown around 30% this year, largely on new business, and existing clients are planning higher advertising outlays for 2027. Das cautions that market uncertainties have not disappeared—global conflict and post-US-midterm effects could change the picture—but current signals do not point to belt-tightening.

06 · One-line marketing take

Score your agency on genuine net new business, and put every festive and influencer rupee against a defined growth problem.

Source: Indian Advertising Media & Marketing News – exchange4media

Mad About Marketing Desk The strategists and writers at Mad About Marketing, writing up what we see in the work every week.