Hindustan Unilever Limited (HUL) is revaluating its Out-of-Home media agency. The incumbent agency is Interpublic Group’s OOH arm Rapport. Sources close to the development claimed that Publicis, GroupM and IPG participated in the pitch.
According to sources, HUL’s OOH media spends is about Rs 200 crore for pan India campaigns. “HUL has invited only global agencies for the pitch due to their strict audit processes. GroupM, IPG and Publicis have participated in the pitch.”
The process is still ongoing and the brand is evaluating multiple aspects including the roadmap for the upcoming year.
The total advertising revenue in 2024 is expected to reach Rs 1.2 trillion ($14.6 billion) from Rs 1.1 trillion ($13.1 billion), as per the latest Magna Global Advertising Forecast report.
OOH (Out-of-Home) media is on a growth trajectory and is expected to cross 2019 levels in 2024. Traditional, transit and DOOH (Digital Out-of-Home) have shown incremental revenues. The government’s push on infrastructure and urbanisation is an expected boost for OOH inventory, especially premium formats.
The revenue is estimated to increase by 16% to reach Rs 34 billion ($402 million), DOOH’s share to total OOH is at six percent, growing at a compound annual growth rate of 33% and the share of DOOH would be approximately 11% by 2028.