Category: Agency News

Why are ad agencies joining the IPO party?

The median total compensation, including long-term incentives, of CMOs has increased by 8 percent in 2024 as companies focus on retaining key executives. (Image source: Unsplash)

Storyboard18 caught up with agency heads who touched upon the reasons behind IPOs, changes one can witness after that, and the roadmap of companies after the IPO.

Cheil’s Experience Commerce bags the creative and social media mandate for The Sleep Company

Established in 2019 by IITians Anurag Kedia and Gagandeep Makker, Pilgrim is one of the fastest-growing Beauty and Personal Care brands that offers 100+ SKUs across facecare, haircare & skincare products, makeup, and fragrances. The brand’s diverse selection of beauty products is made with ingredients sourced from various parts of the world, all of which are approved by PETA and the FDA, highlighted the company. (Image source: Claudio Schwarz via Unsplash)

Experience Commerce is tasked with amplifying the brand’s digital presence through strategic creative approaches, from engaging reels and interactive videos to user-generated campaigns and moment marketing strategies across key social media platforms including Instagram, LinkedIn, Facebook, and YouTube.

Storyboard18 Global News Break Confirmed: Publicis Media gets Spotify’s global media account

The streamer said in this beta launch, it will continue to innovate and iterate based on feedback from both users and artists. (Representative Image: Alexander Shatov via Unsplash)

Spotify awards its media account to Publicis Media after a global pitch. Following the global realignment, Publicis Media gets the streamer’s business in India. Storyboard18 broke the global exclusive story on February 1.

DDB Mudra’s Mudramax bags the media mandate of Kshema General Insurance

Established in 2019 by IITians Anurag Kedia and Gagandeep Makker, Pilgrim is one of the fastest-growing Beauty and Personal Care brands that offers 100+ SKUs across facecare, haircare & skincare products, makeup, and fragrances. The brand’s diverse selection of beauty products is made with ingredients sourced from various parts of the world, all of which are approved by PETA and the FDA, highlighted the company. (Image source: Claudio Schwarz via Unsplash)

The partnership aims to build a strong brand narrative around Kshema’s core promise of “Extremes Se Suraksha”.

BCCI to appoint a creative agency; releases Request for Proposals

While Singapore has emerged as a new contender, Saudi Arabia remains firmly in the running, with locations such as Riyadh or Jeddah under serious consideration.

Board of Control for Cricket in India (BCCI) has announced the release of Request for Proposals for appointment of a creative agency for BCCI. The RFP will be available for purchase till March 18, 2024.

Need to step up competition with multinationals: RK Swamy’s Narasimhan Krishnaswamy on Indian ad firms going public

Narasimhan Krishnaswamy, group CEO and wholte-time director said, "We compete with organisations that are publicly listed companies from their respective geographies. If there is a Japanese company like Dentsu, it's listed in Tokyo. Publicis is listed in Paris and WPP is listed in London. American companies are listed in New York. So, they come in with that scale of capital and are able to then compete at a different financial level."

The firm’s top brass spelt out the reasons for going public, deliberated on the evolving landscape, the challenges faced in the past and those that lie ahead.

Ad agencies under threat from an old enemy – In-housing

“In-house agencies are more efficiency-focused while traditional agencies are more effectiveness-focused. That's what their game is all about,” said Neeraj Sharma, former senior vice president, L&K Saatchi & Saatchi. (Image source: Unsplash)

From Godrej to Zomato, brands across the board are increasing In-house creative capabilities or setting up in-house ad agencies, fuelling an old trend and posing a real threat to the ad agency business.