homestoryboard18 NewsAdEx growth in Mindshare India outpaces global market by 2 3 times, says Global CEO Adam Gerhart
AdEx growth in Mindshare India outpaces global market by 2-3 times, says Global CEO Adam Gerhart
The media and advertising landscape in India is witnessing a transformative phase, driven by substantial AdEx growth and the entry of specialized agencies catering to specific facets of the industry. As India continues to evolve as a key player in the global media market, industry leaders like Mindshare and Havas are positioning themselves to capitalize on the tremendous opportunities that lie ahead.
In a recent visit to India, Adam Gerhart, the Global CEO of Mindshare, made a significant revelation about the Indian advertising industry's astonishing growth. According to Gerhart, the AdEx growth in India is two to three times higher than the global market average. He expressed his enthusiasm about the unprecedented growth rate and the immense potential that the Indian market holds for the media business.
"Over the years, we have witnessed remarkable growth, particularly in this market. From an ad-expenditure perspective, India's growth rate is two to three times that of the global norm," Gerhart stated in an exclusive interview with Storyboard18's Shibani Gharat.
During the interview, Gerhart also shed light on Mindshare's overall proposition of fostering good growth and its recent achievement of being awarded the prestigious Cannes Lion Media Network of the Year for 2023. This acknowledgment reflects Mindshare's commitment to excellence and innovation in the media industry.
Storyboard18, known for its intriguing conversations at the Cannes Lion Festival of Creativity, further engaged with Amin Lakhani, CEO of Mindshare South Asia, to gain insight into the goals set by Adam Gerhart for the Indian market and their expectations for the upcoming Indian festival season.
Lakhani emphasised, "We are currently devising a comprehensive blueprint to elevate Mindshare India to the next level of growth and success."
The Cannes Lion Festival of Creativity also facilitated a captivating exchange with Rob Reilly, Chief Creative Officer of WPP. Reilly shared his thoughts on the future of creativity in advertising and the importance of injecting humor into marketing campaigns.
In addition to Mindshare's success story, Havas India made a noteworthy announcement during this week. The global talent communications agency, Havas People, has been launched in India, adding to the network's expanding portfolio of specialized expertise. With headquarters in London, Havas People caters to various aspects of the people agenda, from internal communications that drive employee engagement and performance to employer branding aimed at attracting future talent.
Rupert Grose, Global CEO of Havas People, and Rana Barua, Group CEO of Havas Group India, elucidated the motives behind bringing this specialized outfit to India, the opportune timing of the launch, and the crucial need gap that it seeks to fill.
For more details, watch the accompanying video
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