The largest advertising agencies are holding companies that own networks of creative, media, public relations and marketing-services agencies. Industry rankings usually measure them by revenue rather than by billings, the value of media they buy for clients.
This list ranks agency groups by the revenue they reported for fiscal 2025. Publicis Groupe, WPP and Omnicom each reported between about US$17bn and US$20bn, well ahead of Dentsu. The ranking is being reshaped by Omnicom's acquisition of Interpublic, completed in November 2025, which contributed only one month to Omnicom's 2025 figures.
Contents
- Revenue, net revenue and billings
- Methodology
- The list
- Comparison table
- Consolidation in 2025
- Frequently asked questions
- See also
Revenue, net revenue and billings
Agency groups report several measures of size. Revenue is the statutory top line and can include costs passed through to clients, such as production or media costs. Net revenue, or revenue less pass-through costs, strips those out and is the measure most groups use for organic growth: WPP's revenue less pass-through costs was £10.18bn against revenue of £13.55bn in 2025. Billings, used by some Japanese groups, include the full value of media bought for clients and are much larger than revenue.
Rankings built on different measures can produce different orders. Ad Age's annual Agency Report, published in June 2026, uses its own revenue definitions and counts only marketing-agency activities; for Advantage Solutions it counted US$1.22bn of a US$3.54bn total.
Methodology
Companies are ranked by total reported revenue for the fiscal year ended 31 December 2025, as stated in their annual reports, results announcements or filings with the US Securities and Exchange Commission. Gross revenue is used rather than net revenue because it is the statutory figure reported by every company in the list.
Currency. Figures reported in euros, sterling, yen and won were converted to US dollars by dividing by the IRS 2025 yearly average exchange rates (EUR 0.886, GBP 0.759, JPY 149.632 and KRW 1,421.779 per US dollar). The converted figures are this list's calculation, rounded, and are not company figures. The order of WPP and Omnicom depends on the conversion: at the 2025 average rate WPP's revenue was about US$0.6bn higher.
Omissions. Accenture Song is often ranked among the largest agency companies, but Accenture does not disclose Song's revenue separately in its annual report, so it cannot be ranked here. Hakuhodo DY Holdings, Cheil Worldwide, BlueFocus and S4 Capital were considered, but their 2025 revenue could not be opened and checked from a primary source during compilation. Hakuhodo DY's own guidance for its fiscal year to March 2027 is revenue of ¥910bn, which suggests it would rank between Dentsu and Advantage Solutions. The list therefore has fewer entries than a complete ranking would.
The list
1
Paris-based holding company with the highest 2025 revenue of the groups ranked
Publicis Groupe reported revenue of €17.40bn for 2025, up 8.5%, and net revenue of €14.55bn, up 4.2% as reported and 5.6% on an organic basis. Converted at the IRS 2025 average rate, revenue equals about US$19.6bn, the highest of the companies in this list. The group reported an operating margin of 18.2%, has about 114,000 employees and is led by chairman and chief executive Arthur Sadoun. It guided to organic growth of 4% to 5% for 2026.
- Revenue (FY2025)
- €17,399m
- US$ equivalent (ranking basis)
- c. US$19.6bn
- Fiscal year end
- 31 December 2025
- Net revenue
- €14,547m
- Organic growth (net revenue)
- 5.6%
- Employees
- c. 114,000
- Headquarters
- Paris, France
- CEO
- Arthur Sadoun
2
London-based group restructuring after a decline in 2025
WPP reported revenue of £13.55bn for 2025, down 8.1% as reported and 3.6% like for like, and revenue less pass-through costs of £10.18bn, down 5.4% like for like. At the IRS 2025 average rate, revenue equals about US$17.9bn. The results included a £641m goodwill impairment, a cut in the dividend to 15.0p and a strategy called Elevate28, which reorganises the group into four operating units and targets £500m of savings by 2028. WPP is led by chief executive Cindy Rose. It was the only one of the four largest groups whose revenue fell in 2025.
- Revenue (FY2025)
- £13,550m
- US$ equivalent (ranking basis)
- c. US$17.9bn
- Fiscal year end
- 31 December 2025
- Revenue less pass-through costs
- £10,176m
- Like-for-like growth
- -5.4% (revenue less pass-through costs)
- Headquarters
- London, United Kingdom
- CEO
- Cindy Rose
3
New York-based group that absorbed Interpublic in November 2025
Omnicom reported revenue of US$17.27bn for 2025, up 10.1% from US$15.69bn, according to its annual report on Form 10-K. The increase was driven largely by the acquisition of the Interpublic Group, which closed on 26 November 2025, so the 2025 figure includes only about one month of Interpublic's revenue. Fourth-quarter revenue alone was US$5.5bn, up 27.9%. Omnicom had about 120,000 employees at the end of 2025 and has identified businesses for disposal that generated about US$3.2bn of revenue in the prior year. A full year of Interpublic in 2026 is likely to change its position in this ranking.
- Revenue (FY2025)
- US$17,271.9m
- US$ equivalent (ranking basis)
- US$17.27bn
- Fiscal year end
- 31 December 2025
- Prior year
- US$15,689.1m
- Employees
- c. 120,000
- Headquarters
- New York, US
- CEO
- John Wren
4
DG
Tokyo-based group with a large Japanese domestic business
Dentsu Group reported revenue of ¥1.435 trillion for 2025, slightly above ¥1.411 trillion in 2024, and net revenue of ¥1.198 trillion. That equals about US$9.6bn at the IRS 2025 rate. Underlying operating profit was ¥172.5bn, but the group recorded a statutory operating loss of ¥289.2bn after goodwill impairments of ¥396.1bn, and paid no dividend. Organic growth in Japan was 6.2%. Takeshi Sano was scheduled to become president and global chief executive in March 2026.
- Revenue (FY2025)
- ¥1,435,245m
- US$ equivalent (ranking basis)
- c. US$9.6bn
- Fiscal year end
- 31 December 2025
- Net revenue
- ¥1,197,530m
- Headquarters
- Tokyo, Japan
5
St. Louis-based sales and marketing services company
Advantage Solutions reported total revenues of US$3.54bn for 2025, compared with US$3.57bn in 2024. The total includes its branded, experiential and retailer services segments, which accounted for 32.9%, 40.5% and 26.6% of revenue respectively, so much of the company's revenue comes from sales and merchandising services rather than advertising. Ad Age's Agency Report 2026 counted only its marketing and experiential business, US$1.22bn, and ranked the company 18th worldwide. The company is led by chief executive Dave Peacock.
- Total revenues (FY2025)
- US$3,542.6m
- US$ equivalent (ranking basis)
- US$3.54bn
- Fiscal year end
- 31 December 2025
- Ad Age Agency Report 2026 rank
- 18 (US$1.22bn counted)
- Headquarters
- St. Louis, Missouri, US
- CEO
- Dave Peacock
6
H
Group founded in Paris and incorporated as a Dutch N.V.
Havas N.V. reported revenue of €2.91bn for 2025, up 1.7%, and net revenue of €2.78bn, with organic growth of 3.1% against guidance of 2.5% to 3.0%. At the IRS 2025 rate, revenue equals about US$3.3bn. The group had 22,641 employees at the end of 2025 and acquired majority stakes in 11 agencies during the year. Havas is led by chairman and chief executive Yannick Bolloré.
- Revenue (FY2025)
- €2,913m
- US$ equivalent (ranking basis)
- c. US$3.3bn
- Fiscal year end
- 31 December 2025
- Net revenue
- €2,783m
- Organic growth
- 3.1%
- Employees
- 22,641
- CEO
- Yannick Bolloré
7
New York-based challenger group built through acquisitions
Stagwell reported revenue of about US$2.91bn for 2025, compared with US$2.84bn in 2024, and net revenue of US$2.43bn, up 5.7%, although organic net revenue growth was 0.1%. Growth came mainly from acquisitions, including ADK Global, completed in June 2025, Create Group in the Middle East and JetFuel. Stagwell had about 10,951 full-time employees plus about 1,678 contractors and part-time staff. Its chief executive and chairman is Mark Penn.
- Revenue (FY2025)
- c. US$2.91bn
- US$ equivalent (ranking basis)
- c. US$2.91bn
- Fiscal year end
- 31 December 2025
- Net revenue
- US$2,427.7m
- Organic net revenue growth
- 0.1%
- Headquarters
- New York, US
- CEO
- Mark Penn
8
Seoul-based agency group listed in South Korea
Innocean Worldwide reported consolidated revenue of ₩2.146 trillion for 2025 under Korean IFRS, with gross profit of ₩990.2bn. At the IRS 2025 average rate, revenue equals about US$1.5bn. The company is headquartered in Gangnam, Seoul. Its revenue figure is reported gross, so it is not directly comparable with the net revenue measures that some Western groups emphasise.
- Revenue (FY2025)
- ₩2,146.0bn
- US$ equivalent (ranking basis)
- c. US$1.5bn
- Fiscal year end
- 31 December 2025
- Gross profit
- ₩990.2bn
- Headquarters
- Seoul, South Korea
Frequently asked questions
What is the largest advertising agency in the world?
By 2025 reported revenue converted at average exchange rates, Publicis Groupe was the largest, with €17.40bn, about US$19.6bn. WPP and Omnicom followed with about US$17.9bn and US$17.27bn. Omnicom's acquisition of Interpublic, completed in November 2025, contributed only one month to that figure, so the order may change in 2026.
What are the big advertising holding companies?
The largest holding companies by revenue are Publicis Groupe, WPP, Omnicom and Dentsu, followed by Havas and Stagwell. Interpublic Group, long counted among the largest, became part of Omnicom on 26 November 2025. Hakuhodo DY Holdings in Japan and Accenture Song are also large, but their 2025 revenue was not verified here.
Did Omnicom buy Interpublic?
Yes. Omnicom completed its acquisition of the Interpublic Group on 26 November 2025, according to its 2025 annual report. Omnicom's 2025 revenue of US$17.27bn included about one month of Interpublic's results. The company had about 120,000 employees at the end of 2025 and identified businesses with about US$3.2bn of prior-year revenue for disposal.
What is the difference between revenue and net revenue for agencies?
Revenue is the statutory top line and can include costs billed through to clients, such as production or media. Net revenue, or revenue less pass-through costs, excludes those costs and better reflects agency fees. WPP's 2025 revenue was £13.55bn, while its revenue less pass-through costs was £10.18bn.
Is Accenture Song an advertising agency?
Accenture Song is the marketing and creative business of Accenture and is frequently ranked among the largest agency companies. Accenture's annual report describes Song as a capability within its services but does not report its revenue separately, so its size cannot be confirmed from company filings.
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