Top indies: Australian independent media agencies by billings
Last year, Australia’s independent scene said farewell to two of its most prominent players with the acquisitions of Atomic 212 and Kaimera. Now, Mumbrella takes stock of the next generation of Australia’s indie media agencies, ranking them below on their self-reported billings.
Note we have selected independent pure-play media agencies here, and some agencies did not respond to our requests. Consequently, there will be agencies missing from this list. Contact us at news@mumbrella.com.au.
From left: Joe Frazer (Half Dome), Dianne Richardson (PMG), Matt Nunn (Nunn Media)
Over the past decade, independent media agencies have stepped out from the shadow of holding company giants to mount a serious challenge for Australia’s most lucrative media budgets.
But the landscape is shifting. Last year saw two of the sector’s most prominent players, Atomic 212 and Kaimera, join Publicis Groupe and Havas Group respectively, with the former marking what Mumbrella’s Tim Burrowes predicted would “likely be one of the last major agency deals of its kind.”
Against that backdrop, Mumbrella has pulled together a snapshot of the next generation of indie agencies helping to reshape the market.
But first, it’s worth understanding what’s driving the rise of independents.
Changing client needs have played directly into their hands. Shorter-term assignments, project-based work, and closer in-house collaboration have helped independents win 64% of media pitches last year, according to TrinityP3.
Technology has also levelled the playing field. As IMAA CEO Sam Buchanan puts it, it has “enabled independent media agencies to compete on a level playing field with larger organisations.” With 72% of business activity now bid-based, he adds, traditional concerns around buying power are “largely a thing of the past.”
“They’re now seen as a great opportunity for marketers because, unlike in bigger companies, you’re working directly with the business owner,” Buchanan says. “The client is the number-one priority, and they get real attention. Independent media agencies are nimble, adaptive to change and new technology, and run by incredibly smart people. They’ve proven themselves and are no longer considered a risk to work with.”
TrinityP3 consultant Steve Wright agrees the conditions are right, describing today’s market as “fertile ground” for independents to thrive. But challenges remain.
“The biggest challenge will be bringing clients up to speed with what are now exponential advances in technology,” he says. “There’s still a perception that larger agencies are more capable, so independents need to better demonstrate both capability and flexibility. With many agencies offering similar propositions, clear differentiation is essential.”
This list is not exhaustive, and the details were shared by the participating agencies in good faith. However, it offers a snapshot of some of the independent agencies helping to reshape Australia’s media landscape.
But before, while they didn’t make the top 10 list, these agencies are worth keeping an eye on: Bench Media, Awaken, Pivotus and Vonnimedia. All of these have demonstrated strong growth, forward-thinking, and potential to make an impact in the independent media space.
Independent media agencies ranked
Shah Ghaffurian (Magic)
10) Magic
Headquartered in Victoria, Magic has expanded its operations across Australia and the US since 2019. In its own words, the agency focuses on “commercial outcomes rather than vanity metrics,” melding incrementality, modelling, measurement, and integrating brand and performance into a single growth strategy.
Key leadership: Shah Ghaffurian, CEO, Sam Terminelli, head of strategy
Headcount: 25
Major clients: Sophos, Powershop and Early Settler
Total billings: $40 million
Client wins in 2025: El Jannah, Zamels, iPantry, Vitality Brands
Yango Media
9) Yango Media
Founded in 2013 as a technology platform — or “digital engine” — for independent agencies, Yango Media has since pivoted to become a full-service media agency. The agency now operates under the mission statement: “people-focused, results-driven.”
Key leadership: Luke Povee, founder and managing partner; Nick Murdoch, founder and managing partner
Headcount: 26 people
Major clients: EV Dealer Group, Scape Student Accommodation and CBHS
Total billings: $53 million
Client wins in 2025: Amber Tiles, Murujuga Aboriginal Corporation, JAC Motors, Jameel Farizon
Enigma
8) Enigma Media
Enigma Media describes itself as “one of Australia’s most distinctive independent media agencies”, having been founded 33 years ago in regional Australia by Lisa Sutton-Gardner. Now with offices in Newcastle and Sydney, the agency specialises in “finding the audiences other brands miss” and developing media talent through the Enigma Media Academy.
Key leadership: Justin Ladmore, chief media officer and partner, Amy Dascanio, managing director
Headcount: 38 people
Major clients: Red Energy, NEX Building Group, University of Newcastle
Total billings: $60 million
Client wins in 2025: Australian Pork, Humm Group, GigaComm, Blackwoods, Lendlease
Lyndelle and Chris O’Keefe, Match & Wood
7) Match & Wood
In its own words, Match & Wood is a progressive, independent media agency founded in late 2017. Its founders built the business from the ground up, without any foundation clients or external investment. It now has offices in Melbourne, Perth and Sydney. According to CEO Lyndelle O’Keefe, Match & Wood’s “clear ambition is to be the most trusted agency in Australia,” focusing on media investments that are “free from the conflicts that come with holding group ownership or media owner incentives.”
Key leadership: Lyndelle O’Keefe, co-founder and CEO, Chris O’Keefe, founder and COO
Headcount: 40
Major clients: Snooze, InstantScripts, Curtin University, Synergy, ANZ Worldline
Total billings: $90-$100 million
Client wins in 2025: Renault, Pepperstone, Remedy Drinks, Access Group Australia, MercyCare, Act Belong Commit, FGB Natural Products
Involved Media team shot
6) Involved Media
Involved Media has been on the ground in Sydney and Melbourne for 25 years, previously under the moniker of Paykel Media before rebranding in 2021. Involved describes its approach as ensuring its “media solutions evolve” in tandem with consumers and brands, stipulating: “Nothing in today’s media environment is set and forget.” The agency specialises in growing brands that have complex organisational challenges, such as franchisee businesses and multi-market businesses with multiple stakeholders.
Key leadership: Sarah Keith, managing director, Dan Hojnik, general manager and head of strategy and planning
Major clients: Anytime Fitness, Hertz, Fever-Tree, Chartered Accountants AUZ
Total billings: $100 million
Client wins in 2025: Care Super, Fever-Tree, RUOK?, Animals Australia
Team This is Flow
5) This Is Flow
In the decade since its formation, Sydney-based This Is Flow has built a proposition around the concept of a “State of Growth,” which it described as a combination of intelligence and people-focused experience. It has also spent the last 18 months building its own internal technology, data and programmatic stack.
Key leadership: Jimmy Hyett, CEO, Catherine Rushton, CSO, Mat Papasavva, COO
Headcount: 55
Major clients: Carnival Corp, Care Pharma, The A2 Milk Company, Australian Payments Plus, Workwear Group, John Deere, Experience Co, McVitties
Total billings: $110 million
Client wins in 2025: Southern Cross Travel Insurance, Cranky Health, G Adventures, Deputy, Australian Health Vitality and Meshki
Cat Edghill and Danni Dimitri (Hatched)
4) Hatched
Founded in 2013, Hatched describes itself as an independent, 100% Australian run agency with a single shareholder, Jack Byrne. Byrne said he created Hatched to fix “broken” elements of the traditional agency model, namely a lack of space and time for teams to focus on the craft of media. Thirteen years on, Hatched said it has carved out a niche by “bringing senior thinking, deep media capability and modern tech together with a genuine give-a-shit factor”.
Key leadership: Stephen Fisher, CEO and managing partner, Adrian Roeling, COO, Cat Edghill, GM Sydney, and Danni Dimitri, head of strategy
Headcount: 94 people.
Major clients: Forty Winks, Bapcor, Vision Super, Who Gives a Crap, Open Universities Australia, Movember, Moose Toys, Reece
Total billings: $130 million
Client wins in 2025: APT Luxury Travel, Chobani & Gippsland Dairy, The MCC, Yellow Tail, MCo Beauty
Half Dome team shot
3) Half Dome
Founded in 2019, Half Dome describes itself as achieving growth outside the pitch room, with average client tenure now approaching four years. In the words of co-founder Joe Frazer, agencies of their size are often “somewhere on the path to an exit.” However, Half Dome’s founders made a conscious decision to build something enduring instead, a choice that has shaped its business model over the past seven years.
Key leadership: Will Harms, head of clients, Joe Frazer, head of product, Jamie Williams, head of finance, Renee Murray, head of people and culture
Headcount: 54 people
Major clients: The Good Guys, GMHBA/Frank Health Insurance, Ego Pharmaceuticals, Australian Builders Network
Total billings: $135 million
Client wins in 2025: Brown Family Wine Group, T2 Tea
From left: Peter Toone, Dianne Richardson, Chris Nolan (PMG)
2) PMG
Formed in 2019, PMG specialises in an “integrated in-house operating model” that unites strategy, investment, performance, and analytics into a single decision framework. Its core belief is that “media effectiveness depends on the fit between content, context and channel”. Over its seven-year history, PMG has grown “carefully”, focusing on sustained long-term client partnerships and disciplined expansion.
Key leadership: Chris Nolan, CEO, Dianne Richardson, founder and product director, Peter Toone, managing director
Headcount: 95 people
Major clients: Sportsbet, Bob Jane T-Marts, Swisse, Vocus, Swinburne University, KenoGo, Netball Australia
Total billings: $180 million
Client wins in 2025: Vocus Australia
Matt Nunn, founder and CEO of Nunn Media
1) Nunn Media
Founded in 2003 by Matt Nunn, Nunn Media describes itself as an agency that “unearths hidden insights to create incremental and measurable commercial value,” uncovering “moments, gaps, and truths to deliver memorable customer interactions”. Last year, the agency expanded its footprint with the acquisition of Thump Media, opening new offices in Brisbane and Sydney and adding $50 million to its media billings.
Key leadership: Matt Nunn, CEO and co-founder; Matthew Crook, national head of strategic development; Chris Walton, Sydney managing director; Sarah Thom, Melbourne general manager
Headcount: 200 people across Melbourne, Sydney, Brisbane and Los Angeles
Major clients: Aussie Broadband, Bakers Delight, Bendigo Bank, Carpet Court, JB Hifi, Lottery Office, SRG, SunRice, Tinder, Webjet, Servicenow
Total billings: $381 million
Client wins in 2025: Peloton, Service Now, and Webjet.
* Note, as stated above, Mumbrella is relying on agencies’ own reporting regarding billings for this piece. At least three agencies did not respond to our invitation to take part.
Is there any meaningful way to look at how successful these businesses are? Billings is of course arcane and has not relevance to anything. Headcount? Having 50 23 year olds doesnt mean that much in terms of sustainability or profitability of a business. Id love to see a revenue or profitability number or even value created?