MAM
Traditional media to lose takers in post-Covid2019 world: Mark Reed
NEW DELHI: Most of the ad spends deducted from traditional media might not come back post-pandemic, predicted WPP CEO Mark Reed at the e-FICCI Frames conclave today. He was talking to EsselPropack Ltd CEO Sudhanshu Vats in a fireside chat. The duo talked in depth about the growth of digital technologies in the media and marketing industry in the post-pandemic world.
Reed, however, was quite positive that the industry will be quick to move back to growths it showcased in the earlier years. He said, “Advertising spend will definitely bounce back but it will be defined by changes in consumer behaviour. If we look at the UK and the US market, the dip that the print industry witnessed during the lockdown, it might not be able to get back (revenue in pre-Covid2019 times). The demand will be generated through digital and is not going to traditional media in the same manner.”
He supported his hypothesis by sharing the growth in the stock values of digital companies like Alphabet, Apple and Tesla in the western markets, despite an overall dip in the stock market.
Reed insisted that even the viewing habits of consumers across the globe will be leaning towards digital platforms going forward. “If we talk about traditional broadcasters in the western market, the core programming like sports, live events, and television shows have dropped in frequency. This will make the users move to digital counterparts like Netflix.”
He added that digital properties like esports will definitely be able to maintain the growth it witnessed during the covid times.
Speaking about the Indian market, Reed showed great positivity in the growth prospects of the economy as well as consumer sentiment once the lockdown is lifted, however some categories will take a little longer to bounce back.
Sharing some data, he noted that most Indians are looking towards visiting a hair salon while most of them are not looking forward to going out to restaurants for at least a few months. International travel might take a few years to get the same attention.
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Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
