MediAvataar's News Desk
OMI is funded by Nexus Venture Partners and plans to improve wellbeing of 10 million users in next 5 years
Prashan Agarwal, ex-CEO of Gaana and Co-founder of online real estate marketplace, PropTiger, has teamed up with Aniket Lila, ex-Nexus Venture Partners, to launch OMI, an online spiritual and wellness platform that aims to combine ancient vedic methods with new-age lifestyle.
OMI is available for download in Google Playstore. It has received an undisclosed amount of funding from Nexus Venture and is looking to disrupt the spiritual wellness market in India that is valued at more than $10 billion.
"Today the world is faced with a multitude of changes in our life in terms of the way we live, we connect, we embrace, unprecedented things we go through and this has had an impact on the spiritual, devotional, and mental wellbeing of all of us. Alongside, the internet and digital payment penetration amongst the Indian population is at an all time high and growing. These dynamics make the market ripe for innovation in this category", said Cofounder & CEO Agarwal.
"We are disrupting what is nearly a 4000-year old market in India by bringing the best of what ancient India has to offer to millennials through a convenient, private, holistic, and personalised platform. OMI will be your personal spiritual guide. Our mission is to make the world a happier place. Most Indians are spiritual and this presents us with a blue ocean opportunity.," added Cofounder & COO Aniket.
Pratik Poddar, Principal at Nexus Venture Partners, said: “We're excited to partner with Prashan and Aniket. This is a very deeply India specific problem, with very large existing profit pools. No one has addressed the market in a millenial centric way, and made a product-first, scalable and trustworthy solution. Having known the founders for many years, I am very excited to get a chance to work with them to crack this $10b market!"
Prashan is an alumnus of IIT Kanpur and ISB alumnus, and was most recently the CEO of Gaana, India’s largest music streaming service. At Gaana, he was instrumental in growing the business from 10 mn monthly active users to more than 180 mn active monthly users and raised more than $200 mn from Tencent to build Gaana into a household brand. Prior to that, he had cofounded PropTiger.com, India’s largest real estate transactions marketplace. Lila is a graduate from Northwestern University and was most recently part of the investment team at Nexus Venture Partners, India’s largest home-grown VC.
On the undisclosed amount of funding from Nexus Venture Partners, Prashan said: “Primarily, the funding will be used to hire talent across product, technology, and operations. We are looking to onboard leaders with passion for the stage and who want to help us build OMI from Day 0.”
“Our aim is to improve the wellbeing of 10 million people in 5 years and create the largest spiritual wellness community in the world. Starting out, on the OMI platform, you can consult with our ‘Astro Guides’ and get a personalized remedy plan which include activities like meditation, chanting mantras, affirmations, and journaling. Currently, we are focusing on aggregating a fragmented supply and building a trusted brand. As OMI scales, you will see us expanding and adding many more services on the platform aimed at helping you improve your spiritual wellness”, added Aniket.
Promising Growth Into 2022 in Asia Pacific
Asia Pacific advertising spend is expected to grow by 8.0% or US$17 billion to US$229 billion (vs global growth of 10.4.% or US$60 billion to US$634 billion)
China and Japan are two of the top five contributing markets by share globally
Australia and India are top five markets by ad spend growth rate globally
APAC Spend will rise past pre-pandemic levels, a year sooner than previously predicted
Digital continues to drive recovery, returning to double digit growth in the region
Advertising investment is forecast to grow by 10.4% globally in 2021, according to the latest dentsu Ad Spend Report. The twice-yearly report which combines data from 59 markets, anticipates US$634 billion will be spent globally with all regions enjoying positive growth.
Ad spend in APAC is expected to grow by 8.0% or US$17 billion to US$229 billion. In the region, Australia and India are forecasting particularly high growth rates in 2021, with 2021 growth expected to exceed pre-pandemic levels in China.
The pandemic-induced decline in advertising spend during 2020 has proved less severe than anticipated. Some trends in consumer behaviour and spend in advertising which emerged during the past year have remained.
In APAC, the 6.2% rise in digital spend last year is forecast to grow by 12.8% in 2021 to reach US$124.5 billion, representing a 54% share of total ad spend. Forecasts for Social (33.4%) and Video (10.8%) will also rise, with Search also growing (7.8%) reaching US$23.1 billion in 2021.
Offline/Linear ad spend will see a return to growth 2.8% to US$104.8 billion, following a 15% decline in 2020, however it is predicted that spend levels in APAC will remain below pre-pandemic levels in 2021.
While regional live events such Tokyo Olympics and Paralympics Games continue to be a significant driver of growth in Linear TV ad spend in APAC (3.9% increase in 2021 to reach US$59.2 billion), the dentsu data suggests a shift towards CTV (Connected TV) and OTT (Over The Top) and audiences moving more towards digital media consumption mean Linear TV spend will remain below pre-pandemic levels until beyond 2021.
With restrictions lifting on social activity, OOH will see a bounce back post impact of the pandemic, rising 7.5% in 2021 in the region. Cinema has a slightly longer recovery, with a further decline in 2021 (-5.0%) but expected to bounce back in 2022. Radio will also see growth (4.3%) in 2021.
While most channels will return to growth in 2021 (Cinema in 2022), Print is seeing a slight decline in 2021 (–2.7%) and expected to continue declining in 2022, as it continues to evolve towards new modes of digital delivery.
Looking at the industries who will see growth in ad spend this year, it will come as little surprise that Government spending remains a key growth area, supporting the Covid vaccine rollout and other related initiatives. In APAC’s key markets, the travel and transport sectors, will still be affected by the uncertainty of the past year and see a muted increase in demand (4.9%), while Media & Entertainment is forecast to see growth (9.7%).
The decline in APAC advertising spend prompted by the pandemic in 2020, has proved to be less severe than originally anticipated. While 2020 remains the weakest performing year since the global financial crisis, the decline in growth has been raised since dentsu’s January 2021 forecast (from -8.0% to -5.2%.) In 2021, the market is seeing a recovery in growth (8.0%), an improvement (2.1% pts) on January’s predication. Looking to 2022, recovery is set to continue when spending is likely to reach US$243.6 billion and grow at a rate of 6.3%.
Ashish Bhasin, CEO APAC, dentsu international, said, “It is promising to see a return to growth in the APAC region with two of our markets in the top five contributors of ad spend growth; China and Japan. While China continues to see strong levels of growth driven by Digital and OOH, Japan’s growth will be buoyed by events like the 2020 Olympic & Paralympic Games, and the House of Representative elections and the advertising spend associated with it, particularly in TV.
In addition, Australia and India are two of the top year-on-year growth markets, forecasting a surge in ad spend. Australia has had a stronger economic recovery after the pandemic particularly in TV and Digital where the government focused much of their Covid-related campaigns, while India is expected to see a resurgence in Digital advertising spend though TV is still the main contributor with a 40.9% share.”
Prerna Mehrotra, CEO Media APAC and MD Media Singapore, said, “We are optimistic that the region will bounce back to positive growth in ad spend, with some channels likely boosted higher than pre-pandemic levels. The main drivers behind the growth is economic recovery, with the APAC GDP set to increase by 7.3%, and a stronger-than-ever push to digital marketing.
Serving as a stimulus the pandemic has accelerated digital adoption. Digital media will continue to drive ad revenue growth this year with strong performance in social (+33.4%) and video (+10.8%) and majority of spends in mobile. We will also see more investments diverted towards addressable and the digitalisation of OOH channels.
Programmatic DOOH will also be a key growth driver in the future. With the growing numbers of SSPs and DSPs partnerships and an increasing demand for location-based solutions to ad-reaching consumers in these times of uncertainty, advertisers will benefit from the speed, flexibility and the targeting capability that the medium will provide.”
Tinder, the world’s most popular app for sparking connections with new people, is partnering with Netflix as the official casting partner for its first ever Indian dating reality show, IRL: In Real Love.
In tune with fan favourites like Indian Matchmaking, Love is Blind, and Too Hot to Handle, IRL: In Real Love, produced by Monozygotic, is set to sweep this generation off its feet with a true to its time dating format.
This July, singles on Tinder can apply for IRL: In Real Love by just making one Swipe Right in-app. Swipe Cards will appear in between Tinder members' stack of potential matches - so all they need to do is Swipe Right on the in-app casting callout and they will be redirected to a registration page*.
Interested? Sounds like a good time for members to also get those bios spruced up!
1. LET YOUR BIO PAINT THE REAL YOU – Don’t shy away from showing-off the different shades of your personality.
2. ALL EYES (should be) ON YOU – Show us what you’ve got with some of your amazing single shots on Tinder. We’re affirmative that you can win hearts, let your profile picture too.
3. THERE’S NO OTHER WAY THAN BEING SINGLE, FOR REAL – To be on IRL you’ve got to be single. Get actively looking for sparks on Tinder!
“Tinder is thrilled to partner with Netflix to offer this generation’s hopeful romantics a chance to go after a flame that can’t be put out. Right from the casting process to its distinctive dating format, this show brings to the table, an opportunity to experience new connections, some heartbreaks, unmatched chemistry and a whole lot of fun. With Tinder’s diverse community of young singletons actively looking for real sparks, this show will provide them with exactly that and more. It’s a perfect match!”, said Taru Kapoor, GM, Tinder and Match Group, India.
Tanya Bami, Director, International Originals, Netflix India, said, “IRL: In Real Love is an indigenous dating format and the association with Tinder will help us keep it as real as the times today. Authenticity is key to any reality series and Tinder will help us find a cast whose preferences and choices will enable us to understand the everyday dating conundrums. We can’t wait for the Tinder members to swipe right for IRL: In Real Love on Netflix!”
Join Aditi Rao Hydari, Jim Sarbh, Sabyasachi, Bibhu Mohapatra, Tan France and others at The Luxe Life from 16th-18th July on Tata CLiQ Luxury website and app
The post-pandemic world has seen a shift in luxury consumption with personal values now being ingrained into consumer expectations. Celebrating this evolution, Tata CLiQ Luxury is hosting its first virtual conclave, ‘The Luxe Life’, from 16th-18th July, 2021, with thought-leaders such as Aditi Rao Hydari, Bibhu Mohapatra, Jim Sarbh, Sabyasachi, and Tan France.
In association with American Express, the event will put the spotlight on path-breaking trends through conversations around sustainability, clean beauty, creativity, craftsmanship, fashion, and slow commerce. Spread over three days, 24 internationally recognized tastemakers will enthral audiences through innovative and engaging formats, with each day representing a unique facet of luxury.
Some highlights of the three days:
July 16, 2021: Day 1 will see nuanced perspectives on driving Indian Luxury into new horizons.
At 2 PM: An Interview with Sabyasachi Mukherjee on building a global Indian luxury brand and celebrating the power of authenticity
At 4 PM: Unveil a new definition of sustainability as told to us by 5 leading voices in sustainable activism such as Patrick Duffy, Suki Dusanj, Lewis Perkins, and Shayoon Mendeluk.
At 9 PM: Enjoy a film by Rimzim Dadu on the journey of metallic saris
July 17, 2021: Day 2 will offer a look into holistic wellness and fostering conscious consumption.
At 2 PM: A discussion with Aditi Rao Hydari and Dr. Lamees Hamdan on ‘Holistic Beauty’ and how Skinimalism is going to be the way ahead
At 7 PM: New York based designer Bibhu Mohapatra talks about the relationship between fashion & diamonds
July 18, 2021: The event will close with a celebration of inclusive fashion and craftsmanship.
At 2 PM: Watch Hajime Asaoka, a Japanese Watchmaker, as he talks on the rise of Japanese watchmaking and takes us through his journey to becoming one of the most acclaimed watchmakers in the world.
At 7 PM: Engage in an enthralling conversation with Actor Jim Sarbh and Fashion Designer Tan France as they talk about The Rise of Male Beauty: Breaking Stereotypes by being yourself.
Saakshi who has 18 years of experience across several global brands like Colgate Palmolive, Coca-Cola and Uber, has joined Kimberly-Clark to lead marketing for their iconic brands in India.
In this role, she will lead the brand, digital, research, analytics & product innovation teams. She will be a part of the company’s senior leadership on the journey of transformational acceleration. Additionally, she will also be responsible for shaping and building a world class brand building organisation in a digital first world.
Announcing the appointment, Mainak Dhar, Managing Director Kimberly-Clark India, said, “We are delighted to welcome Saakshi to our Kimberly-Clark India team. She brings with her a wealth of knowledge and experience to our business that will help in accelerating the transformational growth agenda we have- both in terms of our current portfolio and in future expansion plans. I look forward to her leadership in shaping a future-ready marketing organisation that will not just deliver today’s results but create capabilities, talent and mindset to accelerate our progress towards the exciting future we see for this business.”
Saakshi added, “I am delighted to join Kimberly-Clark India at this exciting point in the transformational journey of the company. Kimberly-Clark is at the cusp of unleashing the potential of its brands in India and I am looking forward to working with the team to take India to its next phase of growth, especially in terms of creating a world class brand building organisation that can thrive in a digital-first world