MAM
India among top 10 contributors to ad spend growth: Zenith Ad-Ex Forecast
MUMBAI: Publicis Media Company Zenith has just released its new Advertising Expenditure Forecasts in which it predicts that global ad expenditure will grow 4.4 per cent in both 2016 and 2017, reaching USD 566 billion by the end of 2017. Zenith predicts that ad expenditure growth for India in 2017 stands at Rs. 54,344 crore (Rs 543.4 billion or USD 8 billion), up by 11.2 per cent over 2016.
Digital remains one of the fastest growing mediums in India registering a 30 per cent growth rate. Television will register an 11 per cent growth rate in 2017, print (newspapers) will grow at 7.6 per cent and all other media between 7-12 per cent.
Zenith India group CEO Tanmay Mohanty added, “India remains one of the few bright spot economies in the world. Ad spending in India is on a steady growth curve and likely to stay that way in 2017, buoyed by the State Elections in Uttar Pradesh and Punjab, the upcoming Champions Trophy and continued expansion and growth of regional newspapers and television. In November, the central government introduced reform in the form of Demonetisation which is leading to some contraction in ad spends. We expect the demand for goods and services to pick up and this shortfall to be temporary. Demonetisation is expected to augur well for the economy long-term. In fact, we expect 2017 to see increased ad spending by categories such as Mobile Wallets, Telecom 4G, BFSI, Mobile Handsets, Fast Moving Consumer Goods and Consumer Durables.”
India is among the top ten contributors to ad spend growth, along with others such as USA, China, Indonesia, UK, Philippines, Japan, Germany.
However the global figures for 2017 forecast is down by 0.1 percentage point from the forecasts published in September after small downgrades in Asia Pacific, which nevertheless remains one of the fastest growing regions for ad expenditure.
This is a strong performance, given that the unexpected results of the UK’s referendum on EU membership and the US presidential election have increased political uncertainty and raised the risks of restrictions to international trade. 2017 also faces a tough comparison with the quadrennial year of 2016, when spend was buoyed by the US elections, the Summer Olympics, and the European football championships, as it is every four years.
After 2017 continued steady growth in global ad spend is expected, of another 4.4% growth in 2018 and 4.1 per cent in 2019. Global ad spend growth has been remarkably stable since 2010, growing at between four and five per cent a year, generally at or below the growth rate of global GDP. Before the financial crisis, advertising would typically exaggerate the wider economy, growing faster in times of expansion and shrinking faster during recessions, with frequent changes in year-on-year growth rates. More recently the global ad market appears to have entered a phase of more stable growth.
Over all, television remains the dominant advertising medium, attracting 36 per cent of total global spends in 2016. The internet is expected to overtake television to become the largest medium in 2017.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
