MAM
Pitch Madison report forecasts 2018 digital adex growth at 25%
MUMBAI: According to the findings of the 16th Pitch Madison Advertising Report (PMAR) 2018, the advertising market slowed down to 7.4 per cent (Rs 53,138 crore) in 2017. The report also predicts the advertising growth in 2018 to be around 12.03 per cent thereby adding Rs 6,392 crore to adex to reach a total size of Rs 59,530 crore.
“We are optimistic about 2018 because you can’t keep the Indian economy down for too long,” said Sam Balsara as he presented the report. He added that the forecast is tempered by the possibility of the government’s reforms that may destabilise the economy in the short term.
In 2017, the report had predicted growth for 2017 to be around 13.5 per cent; however, the industry could not keep up its pace because of the government’s structural reforms.
Following the repercussions of demonetisation, 2017 had a bad start. “Adex was slow to recover from the impact of demonetisation and the first quarter of 2017 saw de-growth of 2 per cent and growth of a mere 2 per cent in the second quarter on the back of the IPL. Just when we expected adex to gather steam, the Goods and Services Tax (GST) Bill came into effect in July and the market saw a drop of close to 20 per cent in traditional media over June 2017, and a drop of 5 per cent as compared to July 2016,” the report notes. “Mercifully, the festive period brought cheer to adex, and it grew from August 2017 to December 2017 by 13 per cent.”
Hindustan Unilever Ltd, Amazon Online India, Procter & Gamble, and Reckitt Benckiser topped the list once again. The newest entrant in the top five for 2017 was Patanjali Ayurved Ltd, which climbed from No 15 to No 5 on the list. Patanjali Ayurved is predicted to have nearly doubled its ad spend from Rs 300-400 crore to Rs 500-600 crore per annum.
According to the report, in 2017, traditional media grew by only 4 per cent, the slowest in half a decade. Television, which continues to be the largest contributor to adex with 37 per cent share, grew by just 4.3 per cent and reached Rs 19,650 crore; this is the lowest growth television has witnessed in the last five years. TV that is closely followed by print at 35 per cent share had even lower growth of 2.7 per cent to reach Rs 18,640 crore.
In 2018, television adex is expected to grow 13 per cent to reach Rs 22,205 crore while print adex is expected to grow by 5 per cent in 2018, taking the print market close to Rs 20,000 crore.
“It is thanks to digital media, which continued its onward march and grew by 27.2 per cent in 2017, that we are able to report an overall adex growth of 7.4 per cent,” the report observed. Digital added nearly Rs 2,000 crore to adex, to reach a size of Rs 9,303 crore in 2017. It now contributes a whopping 17.5 per cent to Indian adex, with video gaining huge ground, along with search, display, native and programmatic advertising.
Digital advertising is projected to grow by about 25 per cent to cross the Rs 10,000 crore mark and grow to Rs 11,629 crore in 2018. Digital is expected to continue its growth trajectory and growth at a rate of 25 per cent, taking the digital adex up to Rs 11,629 crore in 2018. FMCG, telecom, BFSI and real estate will continue to be growth drivers for digital while e-commerce will remain the backbone of digital adex.
Emerging from one of the darkest years for advertising so far, the industry is keeping its fingers crossed for 2018. There are some key factors that will drive growth in 2018, the report observes. There are signs of return of consumer spending and benefits of GST will start accruing this year boosting growth. Media, in particular print, will also get a fillip from the eight State Assembly elections scheduled during the year.
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MAM
Manappuram Finance appoints Sreekanth P V as group head – operations
22-year veteran from Bajaj Finance to drive efficiency and customer experience.
MUMBAI: Manappuram Finance just upgraded its operations engine because when customer delight needs turbocharging, even the gold loans get a smoother ride. Manappuram Finance Ltd has appointed industry veteran Sreekanth P V as group head for operations & customer experience at the grade of president. In his new role, Sreekanth will lead efforts to strengthen operational efficiency, enhance customer experience, streamline processes, drive service innovation and scale the company’s digital ecosystems across all business verticals.
Sreekanth brings over 22 years of experience in operations management, digital platforms, product innovation and customer experience within the financial services sector. Most recently he served as deputy executive vice president for digital platforms at Bajaj Finance Ltd, where he led the development of a unified app and web platform strategy and built a cohesive digital ecosystem.
Manappuram Finance, chairman and managing director V. P. Nandakumar said, “We are pleased to welcome Mr Sreekanth P V to the leadership team. He brings extensive experience in operations management, digital platforms and customer experience. As we continue to strengthen our operational capabilities and enhance customer engagement, his expertise will play an important role in driving efficiency, innovation and service excellence across the organisation.”
The appointment reflects Manappuram Finance’s ongoing focus on building a stronger leadership bench and elevating operational standards as the company scales its lending and customer engagement capabilities.
In a sector where every rupee counts twice, Sreekanth isn’t just joining the team, he’s the new conductor making sure the entire orchestra of loans, digital flows and customer smiles stays perfectly in tune.
