Moore Kingston Smith has named VCCP owner Chime, Oliver and Dare owner Inside Ideas and We Are Very Social as the UK’s top three independent marketing groups by 2022 gross income.
In its Annual Survey 2023, the accountancy group looked over agencies involved in advertising, branding and design, digital, sales promotion, media planning and buying and PR.
Rounding out the top ten were MSQ Partners owner Ensco 1314, Mother, Communisis and APS Group, followed by ITG Limited, PR firm Edelman and the Imagination Group.
“We have a clear divide between the agencies that are generating high levels of revenue growth and strong margins versus those with net falls in real revenue, resulting in weak margins – and more margin pressure lies ahead for 2023,” Moore Kingston Smith partner and head of media M&A, Paul Winterflood said.
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“The make-up of the top 50 independents has changed vastly over the last decade. In 2013, 22% had private equity involvement. That figure is 52% in our 2023 report. Over the same period, the total revenue of the Top 50 has trebled – a significant change in market dynamics.
“Of the high performers in the Top 50 that delivered margins in excess of 20%, five are private equity-backed and one has been recently acquired, leaving only one true independent.”
Further prominent names among the top 25 were Whalar, global creative agency Wieden + Kennedy, TMW Unlimited parent Unlimited Marketing Group and the7stars.
