The Creative Well Dries Up as Agencies Compete for Fewer New Business Opportunities in 2017

R3 report sees new revenue drop by 18%

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This week, agency leaders and consultants alike agreed that a never-ending pitch cycle has become the new normal on the media side of the ad industry.

But like every large-scale action, this one carries an equal but opposite reaction: fewer creative agency reviews around the world.

According to the latest New Business League report from international consultancy R3, new business dropped 9 percent from January to June of this year, with total wins down 12 percent when compared to the same six-month period last year.

This drop is even more pronounced when applied only to creative shops, which saw an 18 percent decrease in revenue and 10 percent fewer new account wins.

The statistics come from a database tracking 3,200 individual account wins that add up to $1.12

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