While everybody keeps on lamenting and berating the ad industry, we were amongst the first industries to be globalised. The biggies are even more active now - Sir Martin's WPP, IPG, Dentsu, Omnicom, Publicis and even Havas!But it's still a very very small pie. If we add advertisng, PR, digital promotions, design, events, DM and sundry marketing activities, they would still add up to a measly $5bn. Which is a mere 0.4% of the global market for such services!!
It would still take a long time for Indian advertising to jostle for more mindspace in Thomas Friedman's 'flat world'. Of course, in a connected world, it doesn't take eternity to ramp up. But apart from money, it would need a lot of vision and leadership which doesn't seem to be in too great a supply!
2 comments:
The advertising industry and its functining is one of my favourite topics.
Here's my feeling. Our ad industry often loses quality talent to other industries who pay them what they deserve. Which explains the dearth in visioneering and leadership.
If the players are big, why can't their salaries be? Now that the biggies are more active now, lets hope for a boom!
You are right about the dearth of leadership. But hopefully things will change for the better... It will because that's the only way to retain good talent! And ad agencies are learning the hard way!
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