MAM
India is third largest contributor to Zenith’s 3-year global adex prediction
MUMBAI: Zenith has predicted that the global ad expenditure will grow 4.5 per cent in 2018, reaching $581 billion by the end of the year. For the coming years, the agency expects the advertising expenditure to grow behind the global economy and its forecast has mentioned 4 per cent growth for 2019, followed by 4.2 per cent in 2020 and 4.1 per cent in 2021.
The forecast for 2019 is slightly down from its September prediction of 4.2 per cent growth.
The report has indicated that regions in ‘Fast-track Asia’ (India, China, Indonesia, Malaysia, Pakistan, Philippines, Taiwan, Thailand, and Vietnam) are expecting the growth to rise to an average of 6.2 per cent a year to 2021.
India has been ranked third (followed by USA and China) in the list of top ten contributors to ad-spend growth 2018-2021 and is expected to see $4,506 million in ad-spends, which is 6 per cent of the expected total global advertising expenditure
North American ad-spend will grow 3 per cent in 2019 and will show an average 3.4 per cent growth each year to 2021 as the “ad market has been growing fairly steadily but unspectacularly since 2010”. Latin America is expected to record an average growth rate of 4.1 per cent a year to 2021. Combining “large scale and rapid growth” China will contribute 19 per cent to the global growth rate and will spend $14,461 million for advertisements.
The forecast has further revealed that six of the ten largest contributors will be rising markets (China, India, Indonesia, Brazil, South Korea and Russia), and they will contribute 37 per cent of new ad-spend over the next three years.
Brands
Acko CMO Ashish Mishra to exit in July
The digital insurer’s marketing chief, who helped build the brand over nearly five years, is heading for the exit.
Ashish Mishra is stepping down as chief marketing officer of Acko, with his departure confirmed for July. He remains in the role for now, and an official announcement from the company is expected shortly.
Mishra joined the digital insurance start-up in August 2020, making him one of the longer-serving marketing chiefs in India’s fintech and insurtech space. Over nearly five years, he played a central role in building Acko’s brand presence in the country’s fiercely competitive digital insurance market. More recently, he was closely associated with Acko Life’s Unmixed brand philosophy, a proposition built around pure protection products stripped of the investment components that have long complicated traditional insurance offerings in India.
Before Acko, Mishra spent over a decade at HSBC in a series of marketing leadership roles spanning the Middle East, including regional marketing manager for credit cards and advance propositions, brand and media manager, and marketing manager for retail banking. Earlier in his career, he worked on the agency side, serving as senior brand service manager at Lowe Lintas and as executive for brand communications at DDB Mudra Group.
His exit leaves Acko with a sizeable gap to fill at a time when the brand is pushing deeper into life insurance and doubling down on its direct-to-consumer positioning. Whoever takes the seat next will inherit a brand that Mishra spent five years building from the ground up. That is not nothing.
