MAM
Events & activation industry to touch Rs 5,779 crore by 2016-17
MUMBAI: The events and activation industry is clearly on a roll in the country. According to the EY-EEMA (Event and Entertainment Management Association) report, the sector is expected to grow to Rs 5,779 crore by 2016-17.
This growth will be on the back of marketers increasing their below the line (including digital) spends to 21 per cent of their total marketing spends. The growth will also be led by personal events, MICE (meetings, incentives, conferences and exhibitions), activations and sports.
According to the report titled ‘Making experiences in India: The events and activations industry,’ the events and activations industry has seen a growth of 15 per cent annually from Rs 2,800 crore in 2011-12 to Rs 4,258 crore in 2014-15.
The report states that while managed events remain the largest service offering, IP (Intellectual Property) and digital events are growing at a faster rate than managed events. The key strength of the industry remains its ability to get things done and the ideation and efficiency with which it operates. “That said there is a need for the industry to work on acquiring the right talent, managing costs, demonstrating ROI to marketers and increasing transparency in operations,” states the report.
Non-metro markets are expected to increase in importance as marketers look to tier II and tier III cities for incremental growth, states the report. Digital events and activation is also expected to grow significantly on the back of smart phone penetration, internet availability and the cost efficiency of such campaigns for marketers.
While the industry has reported very few M&A transactions over the last few years, there exists scope for consolidation. Valuations are driven by IPs owned, advertising agencies’ interest in activations, and digital events and sports leagues. On the taxation front, double taxation, taxation across multiple states, and varying and inconsistent application of different taxes are some of the challenges faced by the industry. Also, the introduction of Goods and Services tax (GST) could have a significant impact on the industry in terms of rates and implementation across multi-state activities.
The report also states that the introduction of the new Companies Act, 2013, will result in some key changes in internal financial controls, compliance with more than 60 acts and regulations, and implementing a vigil mechanism to identify undesirable activities.
EY also conducted a workshop with CEOs of the industry that resulted in Vision20:20 for the industry’s future success. It felt that the industry needs to work towards the following initiatives:
Internal aspects: Improve the quality of talent through skill definition for various jobs, skill development, job security, compensation benchmarking and implementation of health and safety standards. The industry must build robust policies, processes and information systems to manage business efficiently and safely, and implement technology and automation.
External aspects: The industry needs to work on its positioning to marketers, build an account focus and demonstrate returns more effectively. There is a need to improve the supply chain by developing quality vendors, implementing a system of vendor accreditation and improving overall risk management. The regulatory ecosystem needs to be made more conducive by simplifying taxation, permissions and copyright issues.
Strategic aspects: The industry must build more IPs focused on defined communities of interest to marketers, and embrace the opportunity provided by marketers’ increasing spends on digital media.
The report is based on the findings of a survey conducted via extensive discussion with over 60 respondents including the heads of events and activation companies across the country, along with inputs from advertisers and sponsors.
EY India partner and media and entertainment advisory leader Ashish Pherwani said, “The events and activations industry holds great potential and this is evident from the considerable growth that the industry witnessed over the last few years.”
Event and Entertainment Management Association president Sabbas Joseph added, “With a new government at the helm, there is a growing interest in the culture and people. The events and activations industry is best poised to capitalize on this opportunity and there is a crying need for a new world order – one in which event companies work along with government to create an events calendar that drives tourism and related industries.
Brands
Boeing appoints Barun as head of FP&A for global engineering function
Seasoned finance leader to steer budgets and strategy across global centres
BENGALURU: Boeing’s finance cockpit has a new pilot, and he is no stranger to turbulence or transformation. Boeing has appointed Barun as head of FP&A for global engineering, placing him at the centre of financial strategy for its worldwide engineering and technology operations.
Based in Bengaluru, Barun steps into a role that is as expansive as it is critical. He will serve as the primary finance lead for Boeing’s Engineering and Technology Centers globally, working closely with executive leadership to shape financial decisions, manage complex budgets, and design scalable finance processes that support the company’s growing engineering footprint.
In a note announcing his move Barun said, “I’m excited to share that I’ve joined Boeing Global Engineering. This opportunity is incredibly meaningful to me not just from a professional standpoint, but also for what Boeing represents globally.” He added that he looks forward to contributing to an organisation that continues to shape the future of aerospace and innovation.
Barun’s mandate spans strategic financial leadership, operational oversight, and stakeholder engagement. From directing large-scale budgets and schedules to influencing long-term organisational goals, the role blends financial discipline with business foresight. He will also lead cross-functional teams and partner with finance colleagues worldwide to support engineering programmes across geographies, including India.
The appointment caps a long stint at Juniper Networks, where Barun spent over a decade, most recently as finance senior manager. There, he led FP&A for global product business units and G&A functions, driving budgeting, forecasting, and long-range planning. He also played a key role in enterprise-wide transformation, including spearheading an Oracle to SAP ERP migration and building advanced analytics capabilities using tools such as Tableau and SAP Analytics Cloud.
His earlier career includes finance leadership roles at Sony India Software Centre, Cognizant Technology Solutions, and Mphasis, where he focused on financial planning, governance frameworks, and operational efficiency across global delivery centres.
A chartered accountant from the Institute of Chartered Accountants of India, Barun brings nearly two decades of experience across financial planning, digital transformation, and analytics-led decision making.
His appointment comes at a time when global engineering operations are becoming increasingly complex and distributed, requiring sharper financial oversight and agile planning. With Barun at the helm of FP&A for engineering, Boeing appears to be tightening its financial playbook as it looks to scale innovation with discipline.
