MAM
IPG feels impact of US as revenue falls marginally in 2012
MUMBAI: US-based media communications conglomerate Inter Public Group reported revenue of $6.96 billion for the year ended 31 December 2012, down from $7.01 billion a year ago.
Organic revenue increased 3.8 per cent internationally due to growth from existing clients and new business won in high-growth geographic markets. In the US, however, organic revenue decreased 1.8 per cent reflecting the significant impact of account losses for the last two years.
For the year 2012, IPG‘s net income was $435.1 million compared to full year 2011 net income of $520.7 million.
Fourth quarter 2012 revenue was $2.06 billion, compared to $2.07 billion in the fourth quarter of 2011. Fourth quarter 2012 net income was $313.3 million, an increase of nearly 21 per cent from the net income of $259 million a year ago.
IPG chairman and CEO Michael I Roth said, “2012 challenged us in terms of growth, due in large part to account losses suffered in 2011, but we demonstrated our ability to control expenses and drive significant value creation through our strong balance sheet and the return of capital to our owners. Our offerings are highly competitive and we are coming into this year in a much stronger position with respect to client retention and new business activity. In key growth areas, such as emerging economies and digital capabilities, we will continue to build on recent success through further investments in talent and capabilities. Given the macro environment, we will remain vigilant in managing costs. In 2013, we expect to return to organic revenue growth performance commensurate with our peers. With growth in the 2-3% range, an improvement of 50 basis points on this year‘s operating margin is an achievable target. Our Board‘s actions today in raising the quarterly dividend by 25% and authorizing an additional $300 million in share repurchase demonstrate our confidence in the operating trajectory of the business. Improved top line performance, sustained focus on margin delivery and our ongoing commitment to capital return programs will position us well to drive significant earnings growth and enhanced shareholder value in 2013 and the years to come.”
Brands
IICT partners with Gativedhi to bring studio production tools to students
New MoU lets students explore AI-driven production pipelines for AVGC-XR
MUMBAI: The Indian Institute of Creative Technologies (IICT) has teamed up with Gativedhi Technologies to give students a front-row seat to modern studio production. The collaboration will integrate Gativedhi’s AI-powered production intelligence platform, Shotrack, into academic programmes, letting students experience the workflow systems used by animation, VFX and gaming studios.
Under the MoU, faculty, students and researchers will get hands-on access to Shotrack through beta programmes, pilot deployments and academic evaluations. This will allow them to explore simulated production pipelines, understand asset management, track tasks and monitor schedules, essentially seeing how complex projects come together behind the scenes.
Shotrack is designed to tackle a key industry challenge: when multiple studios work on the same project, differing internal systems often create bottlenecks, slow approvals and complicate version control. The platform provides a unified production environment, enabling smoother collaboration across distributed teams while generating operational insights and predictive analytics to optimise crew allocation, forecast schedule risks and manage costs.
The collaboration also opens doors to Gativedhi’s wider ecosystem. Upcoming tools include StudioTrack, for studio operations management covering budgeting, recruitment and IT infrastructure, and WorkTrack, which measures workflow efficiency and team productivity across industries.
IICT plans to embed these tools into programmes covering animation pipelines, VFX workflows, gaming production and media project management. Students will also benefit from guest lectures, masterclasses, workshops, internships and research projects that connect academic learning with real-world studio practices.
IICT CEO Vishwas Deoskar, said the partnership provides “An environment where production pipeline tools can be explored, tested and refined while students gain insight into how large-scale productions are organised.”
Gativedhi Technologies founder & CEO Senthil Kumar added, “This collaboration introduces students to real-world studio management tools and helps us improve our platform with academic feedback.”
With Shotrack in classrooms, India’s future animators, VFX artists and gaming producers will get a taste of studio life long before they step into one.
