| The Sam Balsara-promoted Madison Communications has acquired the Rs 3 crore Teamworks Film Promotions and Entertainment, an entertainment marketing firm.
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| With this acquisition, Madison becomes the latest advertising and media agency to enter the field of in-film advertising and marketing of films and music. Other players include Publicis group’s Leo Entertainment, WPP group’s Broadmind Entertainment and Hungama.com.
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| Team Works, which has an authorised share capital of Rs 1 crore, will operate under the name of Madison TeamWorks Entertainment (MATES). It will be the seventh specialised unit of Madison; other units being Creative, Media, Outdoor, Rural, Public Relations and Retail.
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| Darshana Goradia, ex-Sony TV (sales head of west zone for SET Max), will head the firm as its chief executive officer. Sooraj Bhalla, executive producer of hindi feature film Sharaarat, will be the director- content. Goradia and Bhalla were the first promoters of Team Works.
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| Sam Balsara, chairman and managing director, Madison Communication, said in a press release: “We and our clients are constantly looking for new ways to reach the consumer in an impact full manner and with least cost. The high cost of conventional media accompanied by the growing clutter has made in-film advertising an exciting and viable opportunity.”
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| The buyout will help Madison to kickstart its in-film promotion business with 14 clients of Team Works. The list of clients includes LML, Frito Lays, Reebok and Castrol.
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| Team Works’ current projects include films such as the Amitabh Bachchan-promoted AB Corp’s Virudh, Creative Eye’s Aabra-ka-Daabra, Entertainment One’s Waqt and various films from Ram Gopal Varma’s film production house The Factory.
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| “Advertiser spends in this area are going to grow by leaps and bounds in the near future. Our joint venture with Madison will enable us to operate on a wider canvas. With adequate resources, we will be in a position to get a good share of this market. I have dealt with Madison Media when I was with Sony. I respect it for its objective and professional outlook with a focus on deliveries,” Goradia said. |
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