Despite the overall market slowdown, advertising and marketing agency Rediffusion Y&R, which has clients like Bharti Airtel, Tata Steel, TataSky, is eyeing a 30 per cent growth, riding on new client accounts. The company is also planning to introduce new services in the digital space.
According to Mahesh Chauhan, Group CEO of Rediffusion Y&R, “We will soon announce our new services in the digital space. This would include outdoor, mobile and all other advertising platforms. The new arm should be up and running in another three months. Currently we are hiring a lot of people for the new service.”
The digital advertising space is currently pegged at Rs 400 crore, growing at 40 per cent, surpassing all other media since the base is comparatively small.
Currently Rediffusion is among the top 10 communications agencies in India, with services like marketing, media and creative solutions to its clients.
“The advertising industry is not likely to be affected by overall industry and market slowdown simply because there are too many mediums. Although shifts may happen from television advertising to cheaper medium like radio or even digital, the advertising industry will continue to grow at around 12 per cent year on year,” Chauhan said.
According to analyst reports, FMCG, DTH and Telecom, have not seen any decrease in budgets, although realty and the BFSI sectors have cut their budgets by 30-40 per cent. Durables have also cut by 10-15 per cent. “Although a few sectors may advertise less, like real estate and finance, most of our clients are in the FMCG, IT, telecom space, which will remain stable,” Chauhan added.
The company is also expanding offices in the country.
For instance, it recently opened office in Kolkata and has bagged clients like ITC Limited for its personalcare business, real estate company Shrachi, retail company Spencer’s, and Eveready.
