Why Horizon and Havas are joining forces in the U.S. market

"French agency holding company Havas and Horizon Media, the largest indie media shop in the U.S., are set to pool their media operations in the United States, through a joint venture set to command $20 billion in annual billings. The arrangement is an attempt to compete more effectively for clients amid an agency sector undergoing a series of slow motion earthquakes as Horizon and Havas' holdco cousins merge, disintegrate and decline."

"The U.S. market is important to Havas - 33.8% of its revenue (€925 million, or $1.08 billion) came from North America in 2024, according to its annual report. But relative to their holding company peers, Havas and Horizon are snappers swimming among whales. Given Omnicom and Interpublic are weeks away from forging the largest advertising group in the world, that's not a comfortable position to be in."

Havas and Horizon Media will pool U.S. media operations in a joint venture expected to command $20 billion in annual billings. The move aims to boost competitiveness as holding-company consolidation accelerates and larger rivals emerge. The U.S. accounted for 33.8% of Havas' revenue in 2024, exposing scale disadvantages versus major global groups. Executives identify opportunity amid WPP problems and uncertainty around Dentsu, targeting marketers that value transparency, less bureaucracy and simpler structures. The target clients are primarily U.S.-focused companies with enough international activity to require cross-border agency capabilities.

Read at Digiday