A WEEK AGO, multinational advertising and communications network WPP made the stunning announcement that it would merge Wunderman Thompson and VMLY&R to create a new agency, VML. The move is expected to make the newly formed VML the largest creative agency in the world with an estimated 30,000 employees across 64 markets. Both agencies interestingly were also the outcome of WPP mergers in 2018 - J. Walter Thompson and Wunderman were merged to form Wunderman Thompson, while VML and Y&R merged to become VMLY&R.
Industry veterans reacted with shock at WPP's decision to terminate the legacy Wunderman Thompson brand that has played an influential role in shaping the industry's growth since it entered the Indian market 94 years ago under the name Hindustan Thompson Associates.
Agnello Dias, former chief creative officer at JWT, says, "WPP's efforts are largely an exercise to reduce costs by bringing various functions under one roof where the overheads are shared. The restructuring has been going on for some years, but the effect of it is only being felt now." Sandeep Goyal, CMD at Rediffusion, points out that WPP's latest move reflects certain clear realities about the industry: "Creative agencies at current remuneration levels are unsustainable. So either clients have to pay more to receive quality services or global agencies will die.
هذه القصة مأخوذة من طبعة October 27, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 27, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Murdoch ally helps Ambani build media empire in India
SOHEE KIM PR SANJAI
Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.
Nestle adds sugar to infant milk and cereal, finds report
A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.
India-made Daimler's electric mini truck to hit the road soon
INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Samsung eyes ₹10,000 cr from India TV biz this year
SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.
Microsoft AI Copilot speed boost for coding
WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.
US, China debt pose risks for global public finances: IMF
THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.
Language models in consumer tech
This move is designed to ensure better user experience & privacy
'Data centres' energy use doubles every four years'
Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.
Vi FPO: Foreign players invest big; about ₹5,400 crore raised
GQG, Fidelity buy almost 40% of the anchor investor portion
