MAM
Good times ahead for TV ad spending in US, says study
NEW YORK: The total advertising spend in the US has grown 6.8 per cent in the first half of 2003, with some of the strongest gains coming from cable television, nationally syndicated broadcasting and Spanish-language television, according to the ad tracking firm TNS Media Intelligence/CMR.
Media reports quoting the study, released last Friday, say that all forms of broadcasting have increased 4.7 per cent to $31.3 billion in the past six months. Print advertising went up 8.6 per cent to $25.9 billion. Internet and outdoor advertising rose 15.3 per cent and 5.3 per cent respectively. The total ad expenditures for the first half of the year were $61.7 billion.
“These first-half results are further evidence that the ad recovery is well under way and that 2003 will be a healthy year for the advertising marketplace,” CMR president and chief executive Steven Fredericks said of the results.
Cable TV had the largest gain, up 16.7 per cent to $5.7 billion. National syndication rose 15.8 per cent to $1.6 billion, while Spanish-language network TV was up 15.4 per cent to $1.1 billion. Only one category had negative growth – network TV fell 0.4 per cent to $10.3 billion. Flat to moderate growth was experienced by spot TV, local radio and network radio.
However, one analyst stated that though encouraging, the numbers were not particularly helpful to investors in terms of gauging trends in media stocks. “It’s all backwards-looking data that’s already priced into the stocks,” Sanders Morris Harris analyst David Miller has been quoted as saying. He explained, “The markets always look forward, so right now valuations on media stocks, whether it’s radio or any other advertising-based business, is reflecting expectations in the bottom half of the year.” Still, the report reveals some spending trends.
The top spenders in the first half of 2003 were automotive, packaged goods and entertainment advertisers. General Motors led the spending with a 10.5 per cent increase to $1.3 billion. Two media conglomerates are also among the top 10 spenders. AOL Time Warner spent $965.7 million, 4.8 per cent more than it did last year, while the Walt Disney Co raised its ad spending 19.4 per cent to $632.5 million, the CMR report says.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
