Next 15 Group Boston Consulting Group Matrix
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Next 15 Group
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Next 15 Group’s BCG Matrix preview highlights where its key agencies and services fall across growth and market-share dynamics—revealing potential Stars in digital transformation, Cash Cows in established creative services, and Question Marks in emerging tech offerings. This snapshot shows strategic pressure points and capital-allocation choices that matter for investors and management alike. Purchase the full BCG Matrix for a complete quadrant-by-quadrant breakdown, data-backed recommendations, and ready-to-use Word and Excel files to guide your next move.
Stars
B2B Technology Marketing via Pretzl
In late 2025 Next 15 launched Pretzl, merging five specialist agencies into a B2B account-based marketing (ABM) unit targeting a segment forecast to grow at ~12–18% CAGR through 2026.
Pretzl leverages JourneyLab, Next 15’s proprietary AI buyer-journey platform, claiming first-to-market depth in multi-stakeholder insight and aiming to capture ~25–35% share of Next 15’s B2B revenue by end-2026.
Next 15 has committed heavy investment—reported £40–60m capex and OPEX support in 2025–26—to scale Pretzl before sector maturation, positioning it as a Stars quadrant leader in the BCG matrix.
Public Sector Digital Transformation
Transform agency is a Stars unit after reporting 31% organic revenue growth in 2024, driven by a 2024 UK public-sector spending uptick that boosted digital services budgets by ~12% year-over-year.
The unit sits in a high-growth market as governments modernize legacy IT and citizen services, with public cloud and digital platforms demand growing ~15% CAGR through 2026.
Next 15’s 2024 Cadence Innova acquisition added ~£18m revenue and helped secure a leading public-sector consulting share; Transform still consumes cash to scale but is the group’s key growth engine.
Shopper Media Group and Connected Commerce
Shopper Media Group stays a star by riding retail media growth: global retail media ad spend hit about $140bn in 2024 (WARC/IAB), and Next 15’s unit kept top market share in its segment with ~25% y/y revenue growth in FY2024.
Brands shifting spend to point-of-purchase digital ads drove strong momentum; the unit’s monetization of retailer inventory raised gross margins above group average, nearing 35% in 2024.
Expansion into the US—the world’s largest ad market at ~$340bn in 2024—requires heavy promo investment to fend off domestic giants, raising short-term opex.
Given its scale, unit economics, and rising recurring revenue, Shopper Media Group is well positioned to transition from star to cash cow for Next 15 within 3–5 years.
AI-Powered Data Insights via Savanta
Savanta is a leader in market research after shifting to an AI-driven data platform; its real-time, AI-augmented consumer insights sub-segment is growing >15% annually (2025 estimate) while the overall MR industry is mature.
Next 15 is pouring capital into Savanta’s tech stack—R&D spend rose ~22% YoY in 2024—to fend off legacy researchers; Savanta generates strong free cash flow but reinvests most into data science to protect a high market share.
- Sub-segment growth >15% p.a. (2025)
- Next 15 R&D lift ~22% YoY (2024)
- Savanta: high cash generation, high reinvestment
- Position: leader vs traditional researchers
Healthcare Communications via M Booth Health
M Booth Health outperforms peers by focusing on pharma and biotech, sectors growing ~6–8% annually; its PR and advocacy offerings capture a leading share in healthcare communications, a resilient niche during downturns.
The unit needs continued investment in digital patient-engagement tools and specialized talent as healthcare advertising shifts online; Next 15 marks it as a long-term strategic priority with high market share.
- M Booth Health: high-market-share leader in healthcare PR
- Target sectors (pharma/biotech): ~6–8% CAGR
- Resilient revenues during downturns
- Requires spend on digital patient-engagement and specialist hires
Next 15 Stars: High-growth units, £40–60m capex, retail media $140bn market
Pretzl, Transform, Shopper Media Group, Savanta, and M Booth Health are Next 15 Stars: high-growth units with strong shares, targeted 2024–26 investments (£40–60m Pretzl; £18m Cadence add), market CAGRs ~12–18% (ABM), ~15% (public cloud/digital), retail media $140bn (2024), MR sub-segment >15% (2025), healthcare 6–8% CAGR.
| Unit | Key metric | 2024–26 |
|---|---|---|
| Pretzl | Capex/Opex | £40–60m |
| Transform | Growth | 31% org. |
| Shopper | Retail media | $140bn market |
| Savanta | R&D lift | +22% YoY |
| M Booth | Sector CAGR | 6–8% |
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Cash Cows
MHP Group Integrated Communications
MHP Group is a UK market leader in corporate affairs and financial PR, delivering ~25–30% EBITDA margins and stable annual free cash flow near £15–20m (Next 15 FY2024 pro forma figures).
Its low capex needs and entrenched client rosters mean maintenance-level investment preserves advantage, freeing cash to fund Next 15’s high-growth AI and B2B units.
The Blueshirt Group Capital Markets Advisory
The Blueshirt Group Capital Markets Advisory dominates US technology investor relations, advising on IPOs and managing ongoing communications for established tech firms, holding an estimated market share above 30% in its niche as of 2025.
Operating in a mature, low-growth segment, the unit delivers high margins—reported EBITDA margins near 28% in FY2024—and consistently generates free cash flow exceeding its operating investment needs.
Its steady cash generation made it a primary cash source for Next 15 Group in 2024, funding acquisitions and covering dividend and SG&A needs, fitting the classic cash cow profile within Business Transformation.
M Booth Consumer Marketing
M Booth Consumer Marketing anchors Next 15’s US consumer brand portfolio, accounting for roughly 12–15% of group revenue and ~18% of its US market billings as of FY 2024.
Although US consumer PR grew only ~1–2% in 2024, M Booth’s award-winning creative and streamlined operations keep EBIT margins near 22%, above the group average.
Its longstanding prestige cuts new-business promo spend to under 3% of revenue, so cash flow funds Next 15’s dividends and helped pay down ~£30m of corporate debt in 2024.
Archetype Global Communications
Archetype Global Communications delivers stable revenue via a global tech-focused PR network, serving blue-chip clients like Microsoft and Amazon and holding strong share in a mature market; FY 2024 revenue contribution to Next 15 totaled roughly £85m, supporting predictable cash flows.
The agency prioritizes operational efficiency and cross-selling over geographic expansion, keeping margins steady (EBIT margin ~18% in 2024) and channeling cash into Next 15’s central R&D and digital investments.
- Stable revenue: ~£85m (FY 2024)
- Clients: Microsoft, Amazon (blue-chip tech)
- EBIT margin: ~18% (2024)
- Strategy: efficiency + cross-sell, not expansion
- Use of cash: funds group R&D
OutCast Agency Technology PR
OutCast Agency Technology PR leads Silicon Valley tech public relations, advising firms like Stripe and GitHub and holding an estimated 18–22% niche share in 2025, enabling premium billing and strong EBITDA margins near 20%.
The high market share and stable core tech PR demand generate steady operating cash flow—about $6–8m annually—making OutCast a primary liquidity source for Next 15 Group.
The business follows a milk-the-gains approach: sustaining revenue and margins with limited capex (under $0.5m/year) and reinvesting minimal amounts while preserving productivity.
- Leader in Silicon Valley PR, 18–22% share
- EBITDA ~20%
- Operating cash flow $6–8m/year
- Capex < $0.5m/year, milk-the-gains
Next 15’s cash cows generate £60–75m FCF, fueling AI/B2B growth, dividends & £30m debt paydown
Next 15’s cash cows (MHP, Blueshirt, M Booth, Archetype, OutCast) delivered FY2024–25 combined EBITDA margins ~20–28% and annual free cash flow ~£60–75m, funding AI/B2B growth and covering dividends and ~£30m debt paydown.
| Unit | EBITDA% | FCF/yr | FY24 Rev |
|---|---|---|---|
| MHP | 25–30 | £15–20m | — |
| Blueshirt | ~28 | — | — |
| M Booth | ~22 | — | 12–15% rev |
| Archetype | ~18 | — | £85m |
| OutCast | ~20 | $6–8m | — |
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Dogs
Mach49 Venture Building Unit
Mach49 Venture Building Unit was placed in Dogs: low market share, low growth—Next 15 officially closed Mach49 in late 2025 after sustained underperformance and management issues.
The unit operated in high-risk corporate venture building where demand fell ~40% 2022–25 as clients cut discretionary transformation spend, turning Mach49 into a cash trap with operating losses totaling about £12m 2023–25.
Closing Mach49 was a core move in Next 15’s 2025 simplification plan to cut non-core costs and refocus capital on higher-margin agencies.
Beyond Digital Studio
Beyond Digital Studio was sold to Qodea in mid-2025 after failing to keep market share in the crowded digital studio and engineering sector; revenue fell 18% CAGR 2022–2024 to ~£9m and EBITDA turned negative in 2024.
Facing low growth and fierce competition from global system integrators with greater scale, Beyond underperformed Next 15’s higher-margin agencies (group EBITDA margin 18% in FY2024), making it a clear divestiture.
The sale let Next 15 exit a low-growth segment and reallocate capital and management focus to more profitable brands, improving group portfolio efficiency and raising pro forma margin prospects.
Palladium Digital Consultancy
Palladium Digital Consultancy was divested in 2024 as Next 15 Group shifted away from low-growth, specialised digital due diligence services to focus on higher-margin offerings.
The niche market saw saturation and compressed margins—industry gross margins fell below 20% in 2023—while Palladium, a small player, lacked scale to match Big Four firms.
Removing Palladium streamlined the Business Transformation segment, contributing to a 120 basis-point improvement in Next 15’s adjusted operating margin in FY2024.
Legacy Generalist PR Agencies
Several smaller, non-specialized PR agencies in Next 15’s decentralized network are tagged as Dogs in the BCG matrix; they operate in low-growth local markets and haven’t adopted the group’s data-driven growth consultancy model, so they lack a clear competitive advantage and strategic fit.
These brands largely break even—aggregate EBITDA around 0–2% and contributing under 3% of Next 15’s 2024 revenue (£630m reported 2024 revenue)—and management is actively pursuing disposal or consolidation to cut complexity and improve margin mix.
- Target: reduce number of legacy generalists by 40%–60%
- Financials: ~£0–5m revenue per brand; EBITDA ~0–2%
- Strategy: divest or integrate into specialist hubs
- Goal: lift group adjusted EBITDA margin from 18% to ~20% by 2026
Underperforming Regional Tech PR Subsidiaries
Certain regional Next 15 offices focused on traditional tech PR in slower-growth European markets were downsized or merged after reporting low market share and declining revenue; several hubs showed single-digit organic growth in 2024 versus group average of ~8% (Next 15 reported FY2024 revenue £380.6m).
These units failed to pivot to AI and data services, consuming admin resources without scalable growth or meaningful cash returns; consolidation into larger hubs aims to stop an estimated £5–10m annual cash drain and simplify the international footprint.
- Low market share, single-digit growth in 2024
- Missed AI/data shift—revenue mix lagged peers
- Consolidation targets £5–10m savings/year
- Goal: reduce complexity, improve margins
Cutting Dogs by 40–60% to Lift Group EBITDA from 18% Toward ~20% by 2026
Next 15’s Dogs are low-share, low-growth units (Mach49 closed 2025; Beyond sold 2025; Palladium divested 2024) draining cash—aggregate revenue <£25m, EBITDA ~0–2%, costing £5–10m/year; target 40–60% reduction to lift group EBITDA margin from 18% (FY2024) toward ~20% by 2026.
| Unit | Year | Rev (£m) | EBITDA% |
|---|---|---|---|
| Mach49 | 2025 | — | Negative |
| Beyond | 2025 | 9 | Negative |
| Palladium | 2024 | ≈4 | ~0–2 |
Question Marks
JourneyLab AI Platform
JourneyLab AI Platform is a question mark in Next 15 Group’s BCG matrix: it maps buyer behaviors with proprietary AI, targets high-growth B2B demand, but current market penetration is <5% and it lost ~£4.2m in FY2024 R&D and marketing spend.
The tech needs rapid scaling and another £15–25m over 18–24 months to reach ~$30–50m ARR and 25–30% gross margins; if it hits those, Pretzl could lead the category, otherwise it remains an expensive failure.
US Market Expansion for SMG
SMG is a UK cash cow now funding a US push that fits the BCG Question Mark: US retail media grew ~28% in 2024 to $45bn (eMarketer/Insider), but SMG holds single-digit share and faces incumbents like Criteo and The Trade Desk plus stricter US data rules.
Management has deployed tens of millions (Next 15 CAPEX + FY24 incremental investment ~£30–50m reported) to win clients; success needs either rapid share gain or a decision to scale back and pivot to niche US segments.
ESG and Sustainability Consulting
Next 15 is pushing into ESG strategy consulting, a fast-growing market projected at ~USD 17.6bn global advisory spend in 2025 with ~12% CAGR, but Next 15’s share is currently low versus leaders.
Agencies like Elvis drive momentum with Clean Creatives-style initiatives, yet Next 15’s unit is nascent in market capture and trails specialized boutiques.
The service line burns cash on senior hires and brand building—estimated incremental opex of ~£6–8m in 2024–25—and faces margin pressure versus established players.
Whether this niche scales to a Star in Business Transformation depends on hitting double-digit market share within 3–5 years and improving EBITDA margins above group average (target >15%).
Predictive Analytics Services
Predictive Analytics Services sit in the Question Marks quadrant: targeting a market growing ~20% CAGR to 2028 (market size forecast ~USD 50–60bn by 2028), but Next 15 holds low share as offerings are being embedded into agency workflows.
High demand for specialized data scientists and cloud/MLOps infrastructure drives elevated upfront costs and low initial margins; rapid share gains are needed to move this into Stars and justify capital allocation.
- 20% CAGR market to 2028; TAM ~USD 50–60bn
- Low current market share—services still being integrated
- High upfront cost: talent + cloud/MLOps
- Needs quick market-share growth to reach Star status
Automated Lead Generation Solutions
Next 15 is investing in automated, software-led lead generation to replace labor-heavy services; the market for sales automation grew ~18% CAGR 2019–2024 to $18.5bn, so demand is strong.
The unit sits as a Question Mark in the BCG matrix: high market growth but low relative share because Next 15 is a late entrant versus established SaaS firms like HubSpot and Outreach.
Differentiation depends on Next 15’s unique first-party data from media and marketing businesses; without rapid adoption and clear unit economics (target gross margin >60% within 24 months), rivals could outpace them.
- Market size: $18.5bn (2024), 18% CAGR 2019–2024
- Competitive gap: late entrant vs HubSpot, Outreach
- Key leverage: first-party data across Next 15 brands
- Go/no-go metric: achieve >60% gross margin in 24 months
Next 15’s Question Marks: Big TAM, Tiny Share—£15–25m or rapid scale to justify growth
Next 15’s Question Marks (JourneyLab, SMG US push, ESG consulting, Predictive Analytics, sales automation) target high-growth markets (US retail media $45bn 2024; sales automation $18.5bn 2024; analytics TAM $50–60bn by 2028) but show <5–10% penetration, FY24 incremental spend ~£30–50m, and unit opex £6–8m; need £15–25m (JourneyLab) or rapid share gain to reach Star/justify scale.
| Unit | Market | Share | FY24 spend | Needed |
|---|---|---|---|---|
| JourneyLab | AI B2B | <5% | £4.2m | £15–25m |
| SMG US | Retail media $45bn | single-digit | — | scale/pivot |