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| Madison bags media account of Shriram Transport Finance |
| Press Trust of India / New Delhi Apr 06, 2010, 18:16 IST |
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Madison Media today said it has bagged the media account of the Shriram Group firm Shriram Transport Finance company for handling its advertising, media and public relations for Rs 50 crore.
Shriram Transport Finance company has decided to follow the media Agency on Record (AOR) route and appointed Madison Media as its AOR, Madison Media said.
AOR is the practice of hiring a firm on a committed annual basis for areas particularly advertising, media and public relations.
When asked about the size of the deal, Madison Media Group Chief Executive Officer Punitha Arumugam told PTI that it is worth Rs 50 crore in terms of annual spend.
"With most large advertisers consolidating their spends with one media agency, we thought the time was right for us to follow that (AOR) route," Shriram Transport Finance Company Managing Director R Sridhar said.
Madison World Chairman and Managing Director Sam Balsara said given the size of Shriram Transport Finance Company, it has maintained a low profile and needs to increase its presence.
"We are confident that our substantial experience and expertise will enable us to do that in a cost effective manner," Balsara added.
The Rs 2,300-crore Madison Media Group is a part of Madison World. It has specialist units in creative, outdoor, PR, rural, retail, mobile, sports and entertainment employing over 700 communications professionals across India.
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