MAM
Internet ad revenues in the US at $5.95b in 2002
NEW YORK: A slump in e-revenues in the United States was on the cards post the dotcom bust. A study conducted by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers showed that ad revenue in the United States was $5.95 billion in 2002 (down 17 per cent from 2001).
The study is based on data from the top 15 online ad sellers, which account for 80 per cent of online ad sales. The results of this revenue compilation are then extrapolated to calculate the total industry revenue figure.
The study also proved that Internet ad revenue fell by 9.8 per cent to $1.5 billion for the fourth-quarter 2002. However, Internet ad revenue rose 2.3 per cent in the fourth quarter from the third, the IAB reported.
IAB president and CEO Greg Stuart reasoned that the few predominant factors which contributed to the [year-over-year] revenue decline included the conclusion of some long-term advertising deals. He, however, added that the majority of online publishers continued to remain profitable and their revenues continue to rise year-over-year.
The increase in the fourth quarter Internet advertising revenue in the US reflected the first consecutive quarterly increase since the second quarter of 2000.
IAB’s Stuart was also quoted as saying: “The improved online advertising environment reflects a confluence of factors The publishers are offering a more manageable, uniform and understandable business proposition than ever before. The creative side has gotten smarter and is delivering compelling, entertaining content, which will only improve as the installed base of high-speed access users increases. This adds up to a fertile environment for the industry to right and propel itself.”
“The improved performance over the past two quarters reflects a stabilising online advertising market, highlighted by continued strength in paid-for-search results. The recent upturn, coupled with forecasts of continued expansion of broadband distribution, bodes well for a strong year in 2003” said PricewaterhouseCoopers New Media group chairman Tom Hyland in a statement.
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.
