A spurt in advertising activity has led to an interesting fallout – the number of creative and media accounts that have been pitched for this year has also increased as advertisers seek new agency partners.
According to industry estimates, at least $800 million (Rs 5,360 crore) worth of advertising business has changed hands this year. While the trend began last year with almost $1 billion (Rs 6,700 crore) worth of advertising business changing hands, the pace could pick up in the coming months, say experts.
“Last year was dubbed as the ‘mediapalooza’ globally as advertisers put their business up for review. The ripples of this trend were felt in India as well since accounts are distributed as per global alignments. The trend has continued into this year and should remain for a while, though the pace could vary,” says Ashish Bhasin, chairman & chief executive, South Asia, Dentsu Aegis Network.