In essence, Indian ad majors are following a fresh strategy to handle conflicting accounts and retain market share within the fold while also fuel growth. As a result, the second media agency syndrome has taken off in India.
On the rationale behind RK Swamys new initiative, S Yesudas, CEO, RK Swamy media group said, During our interaction with clients, we felt a need from small size clients to be part of a media agency which could provide them personalised care and attention. We launched Hansa Media Services with a view to provide a deeper engagement with interested clients. According to Yesudas, the agency has recently consolidated its media offerings under a structured umbrella called R K Swamy Media Group.
As for Madisons rationale behind the launch of `Platinum Media, Punitha Arumugam, group CEO, Madison Media said, Our objective is primarily to grow business and provide growth opportunities for people within the system. With this move, we can also handle conflicting media clients.
Chandradeep Mitra, president, Mudra Max said the second media agency syndrome is gaining momentum in India. We created a new line of business called Mudra MAX under two independent agencies - Mudra Connext and Mudra Radar a few months ago. If theres a need, we will launch a third media agency. After seeing the success of Group M with five media agencies in India, other agencies are also catching up with this trend, he said.
According to industry sources, Starcom MediaVest Group is planning to set up its second media agency in India in sync with its global strategy. When contacted, Ravi Kiran,CEO-south and south east Asia, Starcom MediaVest Group declined to comment on the agencys new initiatives.
At present, Starcom MediaVest has a second media agency in five countries including Singapore, Thailand, Malaysia and the Philippines.