Madgaon, Apr 3 (UNI) The Indian advertising industry will be worth Rs 50,000 crore in the next three years, according to Vikram Sakhuja, chief operating officer (COO) of Group M, South Asia.
Taking the Indian advertising industry to Rs 50,000 crore from Rs 15,000 crore in the next three years is a mammoth task, he said, while addressing a three-day Goa Fest of Advertising festival, which commenced here today.
Mr Sakhuja said a year had passed and the worth of advertising industry has only crossed Rs 15,000 crore this year and may cross a little over Rs 50,000 crore in the next three to four years.
The target seems difficult, but not impossible. The advertising conclave this year would deliberate on how to increase the same, he said.
The discussion at the conclave began with last year's ad conclave. The industry heads have taken a step back and are looking at ways as to how the industry can unlock the true value of advertising.
With Goafest's virtual campaign have been doing the rounds lately, many leading agencies participated to check on how the campaign was doing on-line.
Some of the topics that would be discussed at the conclave would involve the various business aspects. One of the subjects that would come under the scanner is 'Are advertisers valuing the marketing assets correctly?' The panelists today discussed why were certain branded properties could generate spends out of thin air and without upfront accountability, while other media owners struggle to take up rates? They also discussed why did a campaign's valuation is based on cost of production rather than the idea. Other topics that they discussed were that some radio spots were valued than national TV spots.
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