MediAvataar's News Desk
Carat’s latest global advertising expenditure forecasts, covering 59 markets across the Americas, Asia Pacific and EMEA, show advertising spend remains buoyant in 2016, increasing overall by US$23 billion in 2016 to hit US$538 billion - a +4.5% year-on-year increase compared to 2015.
Despite a slight decline from the +4.7% previously forecast in the Carat Ad Spend report from September 2015, due to lowered expectations in China and Brazil, advertising spend will be supported by general market stability in 2016 driven by prolific media events including the US presidential elections, the Rio 2016 Olympics and Paralympics, as well as the UEFA EURO 2016 football championship. The predicted 2016 growth rates in major markets China and Brazil of +5.8% and +6.8% respectively will however continue to outpace the global advertising market growth rate.
The positive outlook for 2016 is expected to continue into 2017 with Carat’s forecast predicting a steady year-on-year global advertising growth of +4.5%, based on a continuing global economic growth.
The strength of Digital spend continues to be the key driver of growth in the global advertising market, with a predicted US$18.5 billion increase in spend in 2016, a +15.0% year-on-year growth rate, outpacing previous predictions from the September 2015 report of +14.3%.As a leading media type now across 12 of the markets analysed, Carat’s first forecasts for 2017 reveal that Digital will continue to grow at double-digit levels of +13.6%, and will account for 29.3% of all advertising spend globally.
Key Trends from the Report
• Sustained growth in global advertising spend predicated in 2017 of +4.5%, in line with continuing global economic growth expectations for next year.
• Overall, global advertising spend in 2016 will be supported by general advertising market stability driven by major media events in 2016, including US presidential elections, the Rio 2016 Olympics and Paralympics, and the UEFA EURO 2016 football championship. Total advertising spend is expected to hit US$538 billion this year.
• Global forecasts for 2016 have been slightly revised down from the +4.7% previously forecast in the September 2015 report, to +4.5% following changes to regional advertising forecasts in Asia Pacific and Latin America, due to lowered expectations in China and Brazil based on economic conditions.
• Advertising spend in North America remains strong with +4.6% expected growth in 2016 fuelled by the upcoming US presidential elections which are solely forecast to generate US$6 billion spend in the US.
• Western Europe remains stable with year-on-year growth of +2.8% in 2015. Advertising spend in the region is expected to continue to grow consistently at an estimated +3.1% in 2016 and 2017, outpacing predications from the September 2015 report (+2.9% for 2016), mostly driven by growth in the UK and Spain.
• Advertising spending in the C&EE region is forecast to return to positive growth in 2016 at +2.2%, revised up from predictions in September 2015 (+1.6%), and a further +4.0% in 2017, mainly driven by increased stabilisation in the Russian advertising market.
• In Asia Pacific, the Indian advertising market continues to be buoyant as growth prospects in the country remain high at +12.0% in 2016 and +13.9% in 2017.
• Digital media spend continues to grow at double digit prediction levels of +15% in 2016, outpacing Carat’s forecasts in September 2015, and a further +13.6% in 2017. Digital media’s share of total advertising spend continues to expand year on year, targeting a forecast of 27% share in 2016, exceeding earlier predictions in the September 2015 report, and expanding further to 29.3% of total advertising spend in 2017.
• The continued growth of Digital is driven by Mobile, Online Video and Social Media, increasingly becoming more prevalent components of advertising investment. Mobile continues to show the highest spend growth across all media in 2016, with a year-onyear estimated increase at +37.9% in 2016.
· 73 percent believe that anyone can be trained/ educated to be an entrepreneur
· Nearly 50 percent of respondents considering to start their own business.
· 45 percent of all respondents said that the environment to begin a business in their state has improved over the past 5 years.
· 63 percent respondents sighted ‘fear of failure’ as the biggest obstacle in starting one’s own business
Union Minister of State for Skill Development and Entrepreneurship (Independent Charge), Shri Rajiv Pratap Rudy released the India Entrepreneurship Report 2015 by Amway. The reports aims to understand the latent enthusiasm for entrepreneurship in the country, as well as factors that motivate and obstruct the creation of new enterprises.
Research partner Nielsen India surveyed 250 households in each of the 21 states across 50 different cities. One male and one female member in the 21-65 age group were interviewed from each household taking the total no of respondents to 10,768 individuals (Male 5,402 and Female 5,366).
Unveiling the report, Shri Rajiv Pratap Rudy, said, “The contribution of MSME sector (Micro, Small and medium enterprises) in India, is much less as compared to some of the developed nations. This needs to change. It is critical that there is entrepreneurship led boom at the grass root level so that India can leverage the demographic dividend to the maximum possible extent. The understanding of motivations, attitudes towards entrepreneurship, offers valuable insight to the policy makers.”
Anshu Budhraja, CEO, Amway India, said, “We are aiming to engage different stakeholders on what drives entrepreneurship in India and contribute to the on-going discussions on the role of skill development and self-employment in improving employability of the youth.
Entrepreneurship is a way for people to realise a better life for themselves and their families. Entrepreneurs also create jobs and encourage competition. They spur economic growth and bring opportunities to communities. So, it’s important that businesses like Amway know how entrepreneurs think and act in order to better support and encourage them.”
Two-Thirds of Indians view entrepreneurship positively
Entrepreneurship is valued in India. India Entrepreneurship Report 2015 reports tangible enthusiasm for entrepreneurship as being a good prospect to earn a livelihood in India, with nearly two-thirds of the respondents viewing it favourably. Kerala (78 percent), Punjab (77 percent) and Uttarakhand (76 percent) were the states with most positive attitude towards entrepreneurship.
Access to finance (41 percent) and Family support (35 percent) emerged as the most important factors to start one’s own business. 73 percent of the respondents believe that anyone can be trained/ educated to be an entrepreneur. 62 percent of all respondents thought that the education they had right now was sufficient to start their own business.
Nearly 50% of respondents considering to start their own business
Almost one in two respondents (47 percent), said that they had either thought about starting their own business or are actively pursuing one. Overall, 19 percent of respondents said that they are “very open to starting a new business and in fact are actively pursuing one”. Jharkhand has the highest number of respondents (60 percent) who say that they are actively pursuing a new business, followed by Uttarakhand (40 percent) and Uttar Pradesh (29 percent).
Environment for entrepreneurs to start business in India has improved
Nearly half of all respondents (45 percent) said the environment to begin a business in their state has improved over the past five years. 11 percent of the respondents felt that the environment has ‘improved significantly’.
Financial institutions play a key role
83 percent respondents voted banks as their main port of call for starting a business. This insight clearly point to the role of financial institutions in fostering and facilitating entrepreneurship. Friends and family came second on this index with 78 percent.
Fear of Failure
Across gender, income and age, the fear of failure emerges as a clear obstacle to starting a business with 63 percent of the overall respondents saying so. The fear of failure is composed of different factors. 31 percent of respondents found “financial burdens up to bankruptcy” as the “most important” cause for the fear. Non-conducive market conditions (24 percent) and fear of unemployment (23 percent) were the other key causes of the fear.
D’lecta, an innovative dairy products and food services company, has appointed Havas Worldwide as its creative partner for its dip Cheese, slice Cheese and cream Cheese ranges. The brand will be handled by the agency's Mumbai office. The integrated mandate was won following a multi-agency pitch.
Confirming the appointment, Mr. Deepak Jain, Managing Director, D’lecta Foods Pvt. Ltd., said, “Havas understood the product and its creative demands and have presented an approach that is in sync with our product vision and ideology.”
Nirmalya Sen, CEO, Havas Worldwide India, said, “With its commitment to innovation and great taste, D’lecta is well poised to give the long-established players in the category a run for their money. And we are delighted to have been chosen to partner D’lecta in this journey.”
Commenting on the association, Rayomand Patell, Executive Creative Director, Mumbai added, “From the very first interaction, there was great chemistry in the room. Being a bunch of foodies, working on a cheese brand excited us tremendously. We look forward to making D'lecta a household name as respected as it already is in the food services space.”
Dainik Bhaskar takes ahead its ‘zidd’ with Ogilvy & Mather Mumbai
Dainik Bhaskar, India’s largest newspaper group has associated itself with ‘zidd’ (stubbornness) as a platform for a while now. In a fresh injection of energy into this brand promise, Ogilvy & Mather Mumbai has created a delightfully inspiring TVC to take ahead the message of ‘achchi zidd’ (right stubbornness). This 2-minute commercial marks the launch of a broader campaign that celebrates the spirit of stubbornness. The commercial is visible on television channels and social media channels across the country.
Commenting on the campaign, Kaacon Sethi - Chief Marketing Officer, Dainik Bhaskar: Our brand Dainik Bhaskar embodies ‘zidd’. Our own growth story, from single newspaper which launched in Bhopal to today being the largest circulated with presence across 14 states with 62 editions is steeped in zidd. We are intensely proud of the work by the Ogilvy team on our ‘Zidd Karo Duniya Badlo’ film. It is being received very well.
Detailing the thinking behind the TVC, Kainaz Karmakar – Executive Creative Director, Ogilvy & Mather: For a newspaper brand, it is easy to be preachy while talking about its philosophy. We wanted to avoid that. We wrote a simple story, with a simple message – the right stubbornness can defeat wrong stubbornness. The innocence of our little protagonists and how they dig their heels in for a friend, doesn’t preach but inspires.
Adding to it, Harshad Rajadhyaksha – Executive Creative Director, Ogilvy & Mather: With such an innocent and honest story to be told, the task was to avoid any typically ‘addy’ frills and let the stark struggle between right and wrong shine through. What Sainath brought to our script as a director was precisely that. We also felt that the story would be further enhanced through a song from the uncluttered point of view of children.
Abhik Santara - Senior Vice President, Ogilvy & Mather: There is no better time in India for people to be stubborn, for the right reasons. Across a timespan, the brand would keep reminding people to stay stubborn to change the world and for that we plan to take ahead the platform of ‘Achchi Zidd’ to various other engaging media.
Client: Dainik Bhaskar Group
Agency: Ogilvy and Mather
Executive Chairman & Creative Director, South Asia : Piyush Pandey
National Creative Director: Rajiv Rao
Executive Creative Directors : Kainaz Karmakar & Harshad Rajadhyaksha
Copywriters: Kainaz Karmakar & Harshad Rajadhyaksha
Lyricist: Neelesh Jain
Account Management: Abhik Santara, Dushyant Kumar, Neha Shetty, Mohit Patti
Agency Films Dept: Manoj Joshi
Production House: Purple Vishnu
Director: Sainath Choudhury
Music: Pankaj Awasthi
DigitasLBi India today announced the appointment of Vineet Singh as Client Partner- Delhi. Vineet comes with over 10 years of working with global marketing communications companies and has been successful in driving growth and thought leadership for iconic global and local brands. Vineet will report to Prithviraj Banerjee, Head of Agency, India, DigitasLBi
On his new awaiting challenge Vineet said, “My goal at DigitasLBi is to supercharge an already strong growth engine across new business development as well as existing partnerships. While doing this, I plan to also leverage my experience of working in both MNC and startup environments to further strengthen and evolve our digital proposition.”
Commenting on the appointment Prithviraj Banerjee, Head of Agency, India, DigitasLBi said, "Vineet has high levels of strategic prowess and an unparalleled enthusiasm. His multi-platform experience will help identify new innovative solutions for our clients while his stint as an entrepreneur will ensure true ownership of brands. He is the perfect mix that we were looking for.”
In his prior appointments, Vineet has worked with Google where he helped multinationals meet their online advertising, branding and performance needs. Moving on from Google, Vineet joined the ecommerce logistics startup Delhivery, where he helped set up their Omni Channel business in India. In 2015, Vineet co-founded Upbeat Retail Private Limited and took on the task of changing the outlook of Indian consumers towards imported goods - in terms of pricing, quality and access.