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While startups have weathered the ups and downs of funding cycles, one corner of the ecosystem has remained stubbornly dormant: marketing services. Despite the country’s digital boom and the explosion of social media, investor confidence in these businesses has been slow to build.

According to data from startup platform Tracxn, there were no funding deals involving India’s leading creative agencies in 2024, with the last recorded round in the sector occurring in 2019. Tracxn’s analysis tracked firms including Collective Artists Network, Only Much Louder, WLDD, YAAP, Qyuki, Jouv, and Growth Mechanics.

The sector spans a wide range of services, from social media management and influencer marketing to content production and advertising. Notably, companies with a focus on influencer marketplaces or content creation have proved more successful at raising funds than traditional marketing agencies.

<a href="https://cms.storyboard18.com/how-it-works/70-startups-using-ai-88-partnering-with-creators-reveals-meta-report-72401.html">70% startups using AI, 88% partnering with creators, reveals Meta report</a>

Qyuki, a digital distribution and content production platform for artists, has raised $22.1 million to date from investors including Cisco Investments, BAce Capital, and Luck Legend International. The company, founded in 2011 by Shekhar Kapur, A.R. Rahman, and Samir Bangara, is currently valued at $41.3 million.

In comparison, Mumbai-based Collective Artists Network, which has operated for 16 years as an online influencer marketplace, has raised $16.5 million, backed by Glance and Nepean Capital, with a valuation of Rs 826 crore.

Despite operating for nearly two decades, many of these businesses have largely raised capital only at the seed or Series A stages. YAAP has secured $5 million from The Rainmaker Group since 2015, while Only Much Louder, known for its music events and concerts, has raised $4.29 million from CA Media Digital. Growth Mechanics, founded in Chennai in 2012, has raised just $49,800 from Triasr and is currently valued at around $909,000.

Experts attribute investor reluctance in the sector to two primary factors: its dependence on human resources and the sheer proliferation of agencies.

<a href="https://cms.storyboard18.com/how-it-works/startups-call-for-higher-thresholds-in-ex-ante-regulations-under-draft-digital-competition-bill-70355.html">Startups call for higher thresholds in ex ante regulations under Draft Digital Competition Bill</a>

“There are an infinite number of marketing companies due to a lack of entry barriers,” said Professor Ashish Kaul. “Marketing seems to be something that everyone has an opinion on, but people don't understand it. Therefore, there are innumerable marketing firms, making the investment prospect low for investors.”

Kaul also noted that the unpredictability of client contracts makes it difficult for marketing agencies and talent management companies in India to build sustainable models, often leading to acquisitions by larger conglomerates. He pointed to WPP’s global acquisition spree, including agencies such as AKQA, BCW, CMI Media Group, as indicative of the sector’s dynamics.

Vikram Gupta, founder and managing partner at IvyCap Ventures, said the growth trajectory of these companies makes them less appealing to venture capitalists. “The standard marketing services companies may not scale like a typical J-shaped curve, but they may grow very slowly depending on the number of people they employ. So that's the reason also why VCs don't usually like investing in such companies,” he said.

Marketing Services in the AI Age

Some in the industry see an opportunity for marketing firms to reinvent themselves through artificial intelligence, as technology tends to attract capital more readily.

“VC funding for marketing companies might specifically target new-age applications that use various social media platforms and AI tools to define targeted marketing approaches and help develop marketing products. Those areas will scale up, but VC funding for specific marketing services companies is unlikely to, or if it does, it will decrease substantially in most cases,” Gupta said.

But Kaul expressed skepticism about the link between AI adoption in marketing and investor interest. “Unlike other sectors, this industry has a flawed structure where longevity is restricted by the owner,” he said.

He added that declining margins and price wars have also made it challenging for these firms to attract top talent, even as the industry struggles with instability in client contracts. “There was a time when top talent was recruited from IIM Ahmedabad, followed by MICA, but now even those candidates have become too expensive for such firms to hire,” Kaul said.

“They can't even afford to hire from MICA because what used to be a 15% commission turned into a retainer, and the retainer kept going down due to competition. If one agency doesn't provide the service, there's always another one willing to do it for a cheaper rate. So, the inability to maintain price stability, lack of entry barriers, and all these reasons are why it can't happen,” he added.

Despite digital boom, marketing startups struggle to attract investors

After a successful Day 2 at the 72nd edition of the Cannes Lions International Festival of Creativity, India continues to roar with full gusto. Results were announced across categories: Creative B2B, Creative Data, Direct, Media, PR and Social & Creator.


India won a total of 14 Lions: 1 Grand Prix, 4 Gold, 7 Bronze, and 2 Silver Lions.


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In the Creative Data category, Publicis Groupe's Leo, Mumbai secured a Gold Lion for 'Acko Tailor Test' for the brand Acko.


<img src="https://images.storyboard18.com/storyboard18/2025/06/PK-22-2025-06-a4e38a74b92ec234522e6edcb24fc8b2.jpg" alt="" width="1920" height="1080" class="aligncenter size-full wp-image-70962" />


‘Ink of Democracy’ for Times of India by Havas, Mumbai, which had walked away with a Gold Lion in the Print & Publishing category on Day 1, once again, in the Direct category, garnered appreciation with a Bronze Lion for its innovative concept.


At the 2019 General Elections, around 33 percent of the voters did not turn up, and this resulted in 7,500 litres of unused electoral ink. The concept of ‘Ink of Democracy’ was a reminder to the country's urban population to untap the power of democracy through their vote and not waste the electoral ink. Result: 642 million voters turned up. 


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Continuing its winning streak since Day 1, FCB India won its second Gold Lion for 'Lucky Yatra' for the Indian Railways. 


Coming to the Media category, ‘Eye Test Menu’ for The Titan Company by Ogilvy, Bangalore secured a Bronze Lion. Havas, Mumbai received its second Bronze Lion for 'Ink of Democracy'. 


Eye health is the most ignored aspect, especially by truck drivers who don’t have a fixed timeline, have low income and are constantly on the go. With ‘dhabas’ being their pit stop, instead of food menus, ‘Eye test Menus’ (alphabets replaced with food menus) were introduced to order food and also test their vision. If detected with problems, an optometrist would conduct free-eye exams thus ensuring good health of their eyes.


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Publicis Groupe’s Leo was awarded a Silver Lion for its campaign ‘Takeoff Takeover’ for Cathay Pacific. Dentsu Creative based out of Gurgaon was recognised with a Bronze Lion for its campaign ‘Garuda Rakshak’.


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Indie agency Talented, Bangalore once again was applauded with a Bronze Lion for ‘Nature Shapes Britannia’ for Britannia Industries. Trees are cleared or are cut down to make way for OOH (Out-of-home) campaigns. Britannia's CSR campaign took the other route. Biodegradable billboards were designed to wrap around the trees allowing itself to blend as per nature's creative strategy.


Read More: <a href="https://www.storyboard18.com/advertising/cannes-lions-2025-india-wins-7-silver-ogilvy-talented-fcb-among-winners-70524.htm">Cannes Lions 2025: India wins 2 Gold, 7 Silver & Bronze Lions; Ogilvy, Havas, Talented, FCB among winners</a> 


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In the awards shelf of FCB India for ‘Lucky Yatra’ for Indian Railways, only a Silver Lion and a Grand Prix was left. Continuing its 'Lucky Yatra', in the category of PR, FCB India earned a Silver metal. 


The campaign garnered massive appreciation as they also earned the most coveted Grand Prix and its third Gold Lion on Day 3. Lucky Yatra touched upon railway tickets being transformed into lottery entries and paving the way for a non-ticketless journey.



‘Box to Beds’ for Amazon by Ogilvy, Mumbai bagged a Bronze Lion.


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In the social & creator category, BBH India, Mumbai was felicitated with a Bronze Lion for 'Bassi v/s Men’s Facewash' for Garnier. And, Ogilvy, Mumbai won a Gold Lion for Mondelez’s ‘Erase Valentine’s Day’.


Speaking on Leo’s win, Rajdeepak Das, CCO, Publicis Groupe South Asia and Chairman, Leo South Asia said, “At Leo, we have always believed in the power of data—but more importantly, in the power of human insight. This campaign is a perfect expression of our humankind philosophy, where creativity begins not with a brand, but with a deep understanding of people. Sometimes, the most profound insights are found in places we least expect, quietly embedded in everyday behavior.”


Das further added, "We discovered that nearly every Indian family has a trusted tailor—someone who’s not only measured our clothes but inadvertently tracked our health over the years. That simple realization became the heart of a powerful idea. Kudos to ACKO for believing in it, and to the incredible teams at Leo who’ve made it a habit to uncover the extraordinary in the ordinary. This is creativity with purpose, designed to impact lives at scale—true to our belief in ideas that can impact a billion.”


Amit Wadhwa, CEO, Dentsu Creative & Media Brands, South Asia, dentsu, said, "This campaign was born out of a deep sense of purpose. We set out to use creativity in the service of something meaningful, and we did just that. The idea touched lives, sparked conversations, and stood tall in one of the most culturally powerful gatherings in the world, the Kumbh. To now see it win at Cannes is a proud reminder that when creativity carries intent, it resonates far beyond its origin."

 
Wadhwa also said, "This win belongs to every single person who believed in the idea and brought it to life. It is a celebration of Indian creativity - rooted in culture, driven by meaning, and lifted by craft. And yes, we will be celebrating this one with pride, with gratitude, and with the team that made it possible."


Parikshit Bhattaccharya, chief creative officer, BBH India, said, “Bassi Vs Men’s Face Wash is an iconic campaign. One that started on social and ended up on broadcast. With all the attention the work has already garnered for the brand, a Cannes Lions metal is a great cherry on top. We couldn’t be happier for the teams at BBH and Garnier.”


Read More: <a href="https://www.storyboard18.com/advertising/modest-gains-for-india-at-cannes-ogilvy-vml-talented-bag-3-lions-for-titan-coca-cola-britannia-work-70719.htm">Modest gains for India at Cannes; Ogilvy, VML & Talented bag 3 Lions for Titan, Coca-Cola, Britannia work</a>

Cannes Lions 2025: India roars with 14 Lions on Day 3; FCB India's 'Lucky Yatra' grabs a Grand Prix

R K Swamy Limited, the only integrated marketing services company currently listed on the main boards of both the BSE and NSE, has announced a series of strategic initiatives aimed at reshaping its service offerings and bolstering future growth, even as it reported a significant decline in annual earnings.

In a statement released on Wednesday, the company outlined a diverse slate of investments and innovations spanning research, digital media, artificial intelligence, and customer engagement.

Among the major initiatives are the launch of the R K SWAMY Centre for Study of Indian Markets and the development of proprietary tools to measure viewership of cricket and the effectiveness of digital video advertising. The company also unveiled new capabilities in producing anamorphic video content for large-format screens and announced the application of artificial intelligence across its core disciplines.

A highlight of the transformation includes the development of a proprietary conversational AI solution, branded as VARTA, and a significant scale-up in operational infrastructure. The company has expanded its Customer Experience Centre by 600 seats and added 346 seats to its Computer-Aided Telephonic Interview (CATI) facilities. Hansa Research, a key division, also received ISO certification, highlighting the company’s emphasis on quality standards.

Other strategic moves include the formation of a Brand and Marketing Consulting Group and expanded offerings for the pharmaceutical sector.

“We have made mindful and deliberate investments in all these areas with an eye on the future,” said Shekar Swamy, Managing Director and Group Chief Executive Officer. “We are pushing ahead on many fronts simultaneously as we see major opportunities in the market.”

Despite these forward-looking efforts, R K Swamy reported a consolidated total income of Rs 306.15 crore for the fiscal year ended March 2025, an 8.7 percent decline from Rs 335.39 crore the previous year. Profit before tax dropped sharply by 53.8 percent to Rs 24.77 crore, down from Rs 53.57 crore a year earlier.

Rajeev Newar, Group Chief Financial Officer, attributed the downturn to the absence of large, one-time projects that had bolstered revenue in the prior year. “Notwithstanding this, we have made fresh investments which had an impact on the current year’s profitability,” he said. “The management took a bold call to build capacity in many areas as outlined here. This is our confidence in what the future holds.”


R K Swamy unveils strategic overhaul amid revenue decline

Advertising holdco WPP is reportedly preparing to rebrand its media investment arm, GroupM, as “WPP Media,” marking a significant shift after two decades of the unit’s inception. The move, first reported by Ad Age, signals an effort to streamline the company’s offerings and align more closely with rivals such as Publicis Media and Omnicom Media Group.

<a href="https://www.storyboard18.com/how-it-works/ai-is-advertisings-most-profound-revolution-yet-wpps-mark-read-64095.htm">Read more: AI is advertising’s most profound revolution yet: WPP's Mark Read</a>

GroupM, which oversees media planning, buying, and analytics for some of the world’s most prominent brands, is the largest media-buying entity globally. The division is responsible for negotiating billions of dollars in advertising placements across television, digital platforms, print, and other formats.

GroupM currently employs approximately 40,000 people, more than a third of WPP’s total global workforce.

WPP Chief Executive Mark Read has previously described 2025 as a “year of transition,” with sweeping changes anticipated under GroupM’s Global CEO, Brian Lesser.

WPP reported a slight decline in first-quarter revenue for 2025, as global economic pressures, restrained client spending, and the continued overhaul of its operations tempered growth. Despite the downturn, the company reaffirmed its full-year outlook, pointing to momentum in new business and investments in technology.

The firm reported quarterly revenue of £3.24 billion, a 5 percent drop on a reported basis and a 0.7 percent decline on a like-for-like basis, which excludes the impact of currency fluctuations and acquisitions. Revenue less pass-through costs—a key industry metric—fell 2.7 percent like-for-like to £2.48 billion.

Chief Executive Read described the results as “in line with expectations,” and stressed that WPP was advancing on several strategic fronts, including artificial intelligence, streamlining operations, and improving efficiency across its sprawling network of agencies.

<a href="https://www.storyboard18.com/brand-marketing/wpp-reports-modest-decline-in-q1-revenue-india-grew-5-5-percent-63294.htm">Read more: WPP reports modest decline in Q1 revenue; India grew 5.5 percent fueled by GroupM's strong performance</a>

WPP plans to rebrand GroupM to WPP Media amid broader overhaul: Report

Global advertising and marketing giant WPP reported a 5.4% decline in its India revenue for the December quarter, marking its first quarterly drop since the COVID-19 pandemic. However, the company's full-year revenue in India grew by 2.8%. However, the global business saw an overall revenue decline of 0.7%. 

India's Performance and Global Comparisons
 
The Q4 decline was attributed to a tough year-over-year comparison due to the timing of sporting events. In the previous year December quarter, WPP India had posted a 22% revenue growth, driven by the ICC Cricket World Cup, which significantly boosted advertising and marketing spends. 

Despite the Q4 decline, India was the only market among WPP’s top five to register full-year growth. The USA, UK, Germany, and China all recorded revenue declines: 
- USA: -0.6% 
- UK: -2.7% 
- Germany: -1% 
- China: -20.8% 

This highlights India’s resilience in a challenging global environment, where WPP’s total revenue for the year saw a 0.7% decline. 

WPP’s Chief Executive Officer, Mark Read, acknowledged the weaker client discretionary spending in Q4, which impacted the company’s performance. However, he pointed to 2.0% growth from WPP’s top 25 clients and an improving new business pipeline, with major wins including Amazon, J&J, Kimberly-Clark and Unilever. “The actions we are taking across WPP will strengthen our existing client relationships and drive our new business results. We expect some improvement in the performance of our integrated creative agencies in the year ahead,” Read said. 

He also emphasized WPP’s investment in AI, data, and proprietary media, alongside new leadership at GroupM, to improve the company’s competitive positioning. 

GroupM, WPP’s media planning and buying division, recorded a 2.7% growth in 2024, down from 4.9% in 2023. The company benefited from continued client investment in media, although challenges in China and historical client losses affected overall performance. On the other hand, WPP’s Global Integrated Agencies reported a *3.9% decline in revenue, further impacting the company’s overall performance. 
 
While GroupM secured key new clients, including Amazon and J&J and retained Unilever, it also faced losses, including Volvo.

WPP India reports 5.4% decline in revenue for Q4, full-year growth at 2.8%

Israeli-Palestinian digital influencer, Nas Daily (aka Nuseir Yassin) has launched '1000 Media', a marketing agency aimed at disrupting the traditional firms in India by significantly reducing production time. Speaking with Storyboard18, Yassin emphasised that the agency is focused on using state-of-the-art technology to create content efficiently. 

"What took 15 hours will now take 5 hours, allowing for a new business model and market share. We aim to disrupt traditional marketing firms like Edelman and McCann," he said.

The 33-year-old vlogger with over 70 million followers highlights that while technology will drive efficiency, the agency will maintain a strong human element in content creation.

Yassin sees India as a high-growth market, fueled by thriving startup ecosystem activity and technological advancements. To succeed in this market, 1000 Media agency aims to provide a fresh, modern alternative to traditional marketing firms that struggle to adapt to digital transformation. 

Unlike agencies that focus on ads and big flashy commercials and branding, Yassin says 1000 Media will simply tell stories that go viral.




Edited excerpts:




What kind of brand marketing gap does 1000 Media aim to fill in India?


1000 Media is being launched in India, Israel, and America — markets that is rich in technology and startups. The agency is focused on using state-of-the-art technology to create content efficiently. It significantly reduces production time (for instance, what took 15 hours now takes 5 hours), allowing for a new business model and market share. 



<blockquote>The agency aims to disrupt traditional marketing firms like Edelman and McCann, which are seen as "too big and too slow". </blockquote>




But we don’t see them as direct competitors, we are happy to also partner with them. The old model of spending millions on a single video is outdated; 1000 Media focuses on producing hundreds of videos for the same budget.


Walk me through your offerings and clients you have onboarded?


1000 Media works with startups (small and big), non-profits, government agencies, tourism boards, and multinational corporations. Existing clients include Fittr, Tetr, eToro and the governments of Mongolia, Sri Lanka, and Dubai, Solana. At present, discussions are ongoing with many Indian startups and government bodies for potential collaborations.


How central will AI, ML, or other cutting-edge technologies be to your offerings?


AI is integral to the agency’s operations, helping with voice recreation, idea generation, and complete video production and animation. AI is used to drastically reduce the time required for scriptwriting, editing, and music generation. The agency leverages the latest technology but maintains a strong human element in content creation.


1000 Media continuously tests new strategies, formats, and technologies. Successful strategies are shared directly with clients, ensuring an adaptable and cutting-edge approach. We have very good relationship platforms, so we know about the changes and updates firsthand. The company focuses on an iterative learning process rather than one-off campaigns.


At a time when global agencies have shut down or are consolidating in India, why did you choose this market?


India is seen as a high-growth market with significant startup activity and technological advancements. The agency aims to provide a fresh, modern alternative to traditional marketing firms that struggle to adapt to digital transformation. 

Many agencies focus on ads and big flashy commercials and branding, we simply tell stories that go viral, we create engaging videos and we do something called edutainment videos. Our team has built a following of 70 million followers, no other big agency has done that. 



<blockquote>We are not a traditional agency, no long boring calls, no long waiting times, speed is our middle name.</blockquote>


Social media creators are becoming entrepreneurs and building businesses. Traditional PR and marketing agencies struggle with cultural and structural changes, whereas 1000 Media is agile and tech-forward. The company attracts talent from social media platforms (Instagram, TikTok, etc.) rather than LinkedIn, creating a more innovative workforce.

In terms of acquisitions, the agency is focused on rapid growth and scaling operations.


What will be your strategy to churn out viral content that doesn't backfire?


The agency continuously experiments with new strategies and ensures that content aligns with audience expectations. 

"We throw spaghetti at the wall and see what sticks, but the difference is that we use glue"

This is a proven storytelling style and viral formula that got Nas Daily and it’s clients 100+ million followers and billions of views. Leveraging real-time insights from NowState helps avoid missteps that could lead to backlash.



How directly will you be involved in shaping the strategy and creative direction at the agency?



The agency focuses on social-media-first storytelling. Unlike traditional agencies, 1000 Media is not a simple production company but a partner in long-term brand-building. The goal is to help brands tell their stories in innovative ways tailored for digital platforms. I am personally responsible for the growth of the clients in India.


1000 Media currently has about 30 employees and plans to grow to 60-80 by the end of the year. The company is structured like a tech firm, with separate product and business development teams. The expansion strategy includes doubling the team size and working with diverse clients worldwide.




<blockquote>Social media creators are taking over the marketing space, making traditional agencies less relevant. </blockquote>



The key to success is understanding and leveraging short-form video content effectively. The company is built on firsthand experience with viral content and aims to replicate its success for clients.

Nas Daily: '1000 Media' is no traditional agency, aim to disrupt traditional marketing firms

On January 24, the Advertising Club (TAC) India hosted the 24th edition of the Effie India Awards 2024, a prestigious event that recognizes excellence in advertising effectiveness, creativity, and strategy. This year’s awards attracted a remarkable 1,152 entries from 75 agencies.

Mondelez India emerged as the ‘Effie Client of the Year,’ securing the title with an impressive 152 points, followed by PepsiCo India Holdings (128 points) and ACKO General Insurance (114 points). Meanwhile, Ogilvy Group India was named ‘Effie Agency of the Year,’ a distinction earned through a dominant performance, accumulating 537 points. Leo Burnett India (495 points) and McCann Worldgroup India (390 points) completed the top three.

Ogilvy Group India’s standout achievement of the evening was winning the ‘Effie Agency of the Year’ title. 

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Reflecting on Ogilvy’s success, advertising veteran Piyush Pandey shared his thoughts with Storyboard18, emphasizing that the agency’s accolades are a testament to the lasting impact of their work. “It’s a sense of achievement,” he said, “showing that the work is making a mark.” He went on to discuss the changing expectations of clients, noting that today’s brands are increasingly focused on maximizing impact while optimizing spending. Pandey credited Ogilvy’s long-standing success to its ability to consistently deliver high-quality work that generates tangible results.

“Clients want the most impactful work for their money,” Pandey explained. “And Ogilvy has been ahead of the curve for over 30 years, delivering better work that ‘works’ for clients and keeps them loyal.”

Pandey also touched on the evolution of creativity, pointing to Ogilvy’s longstanding partnership with Pidilite Industries, a client the agency has served for over three decades. He highlighted how the brand consistently achieves significant impact through innovative, long-format commercials that defy industry conventions, thus maximizing the value of their media spend.

He said, “They don't follow the standard rules that many people follow. We do long commercials. We don't follow the rule book or what the media says - ‘Make seven seconds, 10 seconds ads’. We run the commercials fewer times and get greater impact.” 

Concluding his remarks, Pandey offered valuable advice for aspiring communications professionals: “For a campaign to succeed, the focus should always be on understanding the audience’s needs, rather than catering to personal ambitions or client egos.”

Read More: <a href="https://www.storyboard18.com/advertising/effies-india-2025-mondelez-india-and-ogilvy-india-adjudged-as-client-of-the-year-agency-of-the-year-54570.htm">Effie India 2025: Mondelez India and Ogilvy India adjudged as 'Client of the Year' & 'Agency of the Year'</a>

Ogilvy's Piyush Pandey on EFFIE Agency of the Year win: Shows that the work is making a mark

2024 saw some major accounts movements across categories of brands- both globally and in India.From Spotify's global account win to HUL's outdoor ads account in India going up for grabs, Storyboard18 reported first breaks and exclusives from adland. Recap the major wins and losses and accounts that are still up for grabs. 


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

After a several months-long global review, streaming major Spotify awarded its media account to Publicis, in March. The Publicis Groupe-owned media investments firm created a bespoke unit called Publicis OneVibe for the Spotify business. Storyboard18 broke the global exclusive story and was the first to report on the pitch's conclusion, the winning ad firm and details of the pitch finalists on February 1. Spotify's media spends in India are to the tune of Rs 100 crore, although some industry estimates suggest it is in the range of Rs 150-200 crore. The media spend, however, is heavily skewed towards digital.


WPP and Omnicom x Amazon's media account 

It was described as the Global Media Pitch of the Decade. Amazon's mammoth global media planning and buying account went up for review in late 2023 and finally the winners emerged in August. WPP and Omnicom Media Group (OMG) bagged the media business, edging out the incumbent - IPG's Initiative. WPP will handle Amazon's media business in APAC and EMEA. Omnicom gets the Americas.


Omnicom Media Group x Tata Motors PV

Tata Motors finalized the pitch for its Passenger Vehicles media planning and buying account, valued at approximately Rs 450 crore, according to sources. The automobile giant initiated the pitch earlier this year, as reported by Storyboard18 exclusively. Industry sources indicate that Tata Motors has decided to consolidate all its media planning and buying business with Omnicom Media Group.

Tata Motors’ media mandate spanned across various categories, including above-the-line, digital (covering both electric and internal combustion engine vehicles), and outdoor advertising. The company’s media needs are currently managed by agencies such as Lodestar UM, OMD, Dentsu, and Madison. Sources confirmed to Storyboard18, "OMG handled the Digital media mandate but now has won the entire Tata Motors media business." None of the media agencies involved in the pitch commented on the process.


IPG agencies corner Air India's media and creative business; marking a huge win for the group

IPG Mediabrands bagged Air India's mandate after a many months-long pitch in 2023. The account is handled by IPG Mediabrands' firm Initiative, industry sources told Storyboard18. The win for the media planning and buying group added another feather to the ad holding company IPG's hat given that Initiative's creative stablemate McCann Worldgroup India won Air India's global creative mandate in 2023. The media win followed. The Air India account is one of the most prestigious and largest in the country, running into several hundred crores, as the airline brand undergoes a massive transformation. McCann Worldgroup India is tasked with revamping the advertising and communication of the heritage airline brand. Storyboard18 was the first to report when the Prasoon Joshi-led ad agency won the creative account in June 2023. The agency has developed a new brand platform and comprehensive range of multi-channel marketing communication.

IPG's Initiative x Volvo's $500 mn global media account

Replacing WPP's Mindshare, IPG's Initiative won the Swedish auto major Volvo's global media account, in December. The auto major initiated the pitch back in August, after 25 years. In its new mandate, the account spans key markets including the U.S., U.K., Germany, Sweden, Japan, Australia, and Korea and exclude China. Storyboard18 first reported that the Swedish auto manufacturer started a global review of its media planning and buying account in August.


Initiative x Ather Energy

Electric two-wheeler manufacturer Ather Energy awarded its media buying and planning mandate to IPG Mediabrands-owned Initiative, a leading media investments firm and a stablemate of Lodestar UM. Storyboard18 exclusively reported Initiative's win of the integrated media business of the Hero MotoCorp and Tiger Global-backed EV company. Other media services firms in competition for the account were GroupM and Dentsu. Ather's reported advertisement expenses went rapidly northward to Rs 203.8 crore in FY23 from Rs 45.5 crore in the preceding financial year.


Volkswagen and Omnicom Group

German auto giant Volkswagen had called for a review of its global media planning and buying account. After a lengthy review, VW has chosen to retain Omnicom Group. The ad holding company holds on to the automaker’s worldwide business, which includes VW, Audi and Škoda. As per reports, Omnicom's media investments firm PHD will support the business under a new operating model that draws resources from across Omnicom Media Group.

Media spends in India are in the range of Rs150-180 crore.

Volkswagen's contract with Omnicom-owned PHD had expired at the end of 2023, kicking off a marathon global media pitch for its multi-billion dollar contract which includes brands such as Volkswagen, Audi and Skoda. PHD had the account since 2016 and before PHD it was WPP’s MediaCom that handled the carmaker's media duties since 1998.


Unilever global media review results; All six ad holding companies get the FMCG's business

Unilever reappointed WPP’s Mindshare in the US, UK and China, as per industry reports. However the FMCG giant changed up its agency roster in other markets to include Havas, Dentsu and Publicis Groupe, in addition to WPP, Omnicom and Interpublic.

Omnicom Media Group lost Canada to Interpublic’s Initiative. Publicis Media now has Unilever's media business in Thailand, Philippines and Vietnam, taken away from WPP. WPP has also won Sub-Saharan Africa, including South Africa. India has been retained by WPP and GroupM's Mindshare, as per sources. Unilever said the media review was aligned to Unilever’s Growth Action Plan."

The global FMCG juggernaut initiated a review of its global media planning and buying account in January 2024. The FMCG giant last reviewed its media account in 2021. When GroupM expanded its account in 2021, the billings at the time were worth $3.4 billion. Mindshare, which also has the mandate in India, re-pitched for the account. GroupM-owned Mindshare had retained the account in the last review, beating out stiff competition from other major holding companies' media agencies. The review happens every three years


Jio-Bp's Rs100 crore media account x Vibrant Media

In January, Storyboard18 reported Vibrant Media beating GroupM and Beehive to bag the Rs100 crore media business of Jio-bp. Reliance BP Mobility Ltd (RBML), a joint venture between Reliance Industries Limited and UK's bp. In October 2023, Reliance Industries' in-house agency Vibrant Media roped in Madison Media's chief operating officer, Karthik Lakshminarayan, as vice president.


Lego's $627 million global media account x Publicis One

In July, global toy company the LEGO Group onboarded Publicis One as its global media agency. The media account was on pitch for 18 months, where the incumbent agency was Initiative. Publicis One commenced onboarding from the beginning of July, working with Initiative over a three-month period to ensure a seamless transition and continued strong presence for the LEGO brand. Its new agency partner, Publicis One, is now focusing on strengthening these connections within a complex and rapidly evolving media and retail landscape.


OMG x Michelin's $89.5 million global media account

Omnicom Media Group won Michelin's $89.5 million global media account after a multi-agency competitive pitch, in August. For the seventh consecutive year, Michelin secured its position as the world’s most valuable tyre brand, with a brand value of USD 7.9 billion, according to new data from Brand Finance, the world’s leading brand valuation consultancy. The French brand's value has remained stable year-on-year, despite various factors impacting the market and performance, including declining sales within the road transportation segment and reduced replacement market unit sales.


Lowe Lintas x Complan

Lowe Lintas was awarded the creative mandate for Complan, a nutritional brand, in Decemer. This mandate allowed Lowe Lintas to leverage its unparalleled expertise in brand storytelling and consumer insights to fuel Complan’s growth and drive consumer engagement by creating deeper connections at local, ethnic, cultural, and sub-cultural levels, stated the company in a statement.

Lowe Lintas x Amaron

Lowe Lintas won the creative mandate for Amaron, the flagship brand of Amara Raja Energy & Mobility Ltd (formerly known as Amara Raja Batteries), after a multi-agency pitch.The incumbent ad agency was Ogilvy, which has been associated with the brand for over two decades.
It is to be noted that this is the second loss for Ogilvy, in a row, after it lost the KFC account to FCB, last month. In May, Storyboard18 broke the news of Amaron's creative account going up for grabs. The full-service creative agency of MullenLowe Lintas Group- Lowe Lintas will help energise Amaron's brand presence and market share.


82.5 Communications x Bacardi India

In December, 82.5 Communications was entrusted with the creative mandate for one of Bacardi India Private Limited’s brands, with a focus on developing innovative marketing strategies and campaigns. In collaboration with 82.5 Communications, Bacardi India now aims to elevate the consumer experience through creative storytelling and engaging brand activations.


Rainmaker Consults x Jamba Juice

The American quick-service restaurant that debuted in the Indian market in October assigned its creative, media, and public relations mandate to Mumbai-based Rainmaker Consults. Shouger Merchant Doshi, founder, Rainmaker Consults confirmed the same to Storyboard18. Rainmaker Consults is a strategic PR and marketing communications agency and will be handling Jamba's duties for both digital and traditional channels. The agency services brands like ITC, Courtyard by Marriott, Neuma and One8 Commune among others.


GroupM x Honor's $250 million global media account

Following a competitive pitch, WPP's GroupM was appointed by smartphone brand Honor as its global media partner, in October. Further, Honor handed its China planning business to GroupM from Publicis. The partnership between GroupM and Honor spans a decade beginning in 2014. From 2025-2028, GroupM will look into Honor's global media strategy and buying business covering China and overseas. GroupM will also leverage WPP's global resources and talent advantages and further harness AI data technology in order to enhance the brand's marketing strategies, media efficiency and effectiveness.


Madison x Parag Milk Foods' Rs 100-120 cr account

Storyboard18, in October, exclusively reported that Madison has won the media mandate for Parag Milk Foods. The dairy-based product maker had issued a Request for Proposal (RFP) in April in 2024 for its media planning and buying account. Madison will manage the media duties for all the sub-brands. According to sources, the account size is approximately INR 100 to 120 crore. Madison will oversee the mandate for the entire product portfolio, including Gowardhan, Go, Pride of Cows, and Avvatar. The brand recently expanded its health and fitness portfolio with the launch of Avvatar, Performance Whey Protein, made from cow’s milk.



Pitches Still Up For Grabs


HUL

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.


Hero MotoCorp

Auto major Hero MotoCorp called for a pitch first in June, putting a major media account back in the market and up for grabs. The world’s largest manufacturer of motorcycles and scooters is looking for a media investments firm for media buying and planning, industry sources have confirmed to Storyboard18. The incumbent is Publicis Media. In 2019, Publicis Media won the mandate that included both traditional and digital media duties, after a competitive pitch. Publicis Media had created a bespoke platform – ‘Team Hero MotoCorp’ (Team HMC). Previously reported estimates had pegged the media account at Rs 600 crore.


Lenskart

In September, eyewear retailer Lenskart initiated a media pitch for its approximately Rs 100 crore account. Its current media mandate is handled by Starcom, which won the account in 2017. Prior to which, the account was with GroupM Maxus.


Kotak Mahindra

India's leading banking and financial services groups, Kotak Mahindra Group is also looking for a new media partner. With an account valued at Rs 100-150 crore, it comprises of the entire media buying and selling. Its current agency on record is Wavemaker.


Cars24
 
The online platform for buying and selling used cars, Cars24 with an account worth Rs 100 crore is looking for a media partner. Recently, one of its sub-brands Loans24 assigned its digital mandate to Born Hi, the integrated digital marketing agency.

GCPL

Godrej Consumer Products Limited has invited pitches for its integrated media account, which is estimated to be around Rs 700 crore. “It has always been a good practice for us to seek continual improvements that can drive cost efficiencies in our media strategy and spends," Harshdeep Chhabra, Head Global Media, GCPL told Storyboard18. "...to this effect, we intend to run a transparent and objective media pitch process that will help us to select an appropriate media agency partner," he added. This comes at a time when the company dropped its standalone ad spending to Rs 263.57 crore in Q2 FY25 compared to Rs 279.44 crore in FY24. Madison is the incumbent agency for GCPL.

Big Breaks: Adland's major account moves and pitches of 2024

Promoters of RK Swamy Ltd have consolidated their holding in the marketing services firm, buying out US fund's stake in RK Swamy Ltd. The promoters have bought 3.56% of shares held by Evanston Pioneer Fund LP, a US entity that had invested in the group in 2018-19. Srinivasan K Swamy and Narasimhan K Swamy concluded the transaction om December 27.

AcK Swamy's consolidated profit declined to Rs 51.79 lakh. Last year in the same period the company's profit was Rs 7.4 crore, in the second quarter (July and September) of fiscal year 2025.

The revenue from operations of the company reduced to Rs 65.61 crore lakh in Q2 FY 25 from Rs 79.7 crore in the corresponding quarter last fiscal.

The total expenses of the media company also reduced from Rs 65.13 crore to Rs 62 crore in Q2 FY 25.

On a standalone basis, RK Swamy's net profit declined by Rs 2.13 crore in the second quarter of FY 25 from Rs 5.55 crore.

The EBITDA of the company dwindled by 63.6 percent to Rs 2.75 crore in Q2 compared to Rs 7.57 crore.

Promoters buy out US fund's stake in RK Swamy Ltd

In an era where holding companies and global advertising networks are consolidating, the fate of individual agency brands seems increasingly uncertain. The recent trend of cross-brand mergers, often driven by cost-efficiency and strategic realignments, raises the question: is the age of the agency brand coming to a close?

Take, for instance, WPP's sweeping overhaul that has seen three of its most iconic brands disappear — J. Walter Thompson, Young & Rubicam, and Wunderman, with a combined history spanning over 300 years, absorbed into VML. It was part of the broader consolidation strategy under Mark Read, who became WPP’s CEO in 2018. In the preceding years, VML merged with Y&R to form VMLY&R, while Wunderman and JWT combined into Wunderman Thompson. WPP's other recent creation was EssenceMediacom, fusing its two media investments firms - Essence and MediaCom. The overhaul took WPP's media services entity GroupM from four to three flagship agencies: EssenceMediacom, Mindshare and Wavemaker. 

<a href="https://www.storyboard18.com/quantum-brief/wpp-forms-vml-is-it-just-another-nail-in-an-already-worn-out-coffin-16151.htm">Read more: Merger or mess?: WPP kills Wunderman Thompson brand after merger with VMLY&R to form VML</a>

When holding companies consolidate, they often inherit a vast network of agencies, many of which operate as generalist, full-service firms. In such a crowded landscape, where differentiation is often minimal, agencies increasingly find themselves competing on legacy and established relationships, rather than on innovation or distinct value propositions. As a result, some agencies risk fading into irrelevance, or worse, disappearing altogether.

<a href="https://www.storyboard18.com/quantum-brief/lost-wonder-will-wunderman-thompson-regain-the-glory-of-its-jwt-days-6493.htm">Read more: Lost wonder? Will Wunderman Thompson regain the glory of its JWT days?</a>

Sandeep Goyal, Chairman and Managing Director of Rediffusion, observes that holding companies often begin "rationalizing" the brands under their umbrella, a process that frequently leads to the elimination or closure of certain agencies.

In India, the fate of Clarion, once the country’s second-largest agency, serves as a case in point. After merging with Bates, Bates itself was eventually shuttered, and Clarion was all but erased from the landscape. A similar story unfolded when Enterprise merged with Nexus+Equity, only to be sold off to Lowe. Before long, the agency vanished entirely. Publicis also followed this path, acquiring Capital Advertising two decades ago, only to absorb it into the larger organization. Like its predecessors, the agency simply disappeared from the market one day.

This trend appears poised to continue with the recent proposed mega merger of advertising holdcos Omnicom and Interpublic Group (IPG). The deal, valued at roughly $30 billion with $65 billion in global media billings, is expected to lead to a major restructuring of the combined entity, potentially resulting in the consolidation or elimination of many of its constituent agencies. Industry veterans like Goyal anticipate that such mergers will lead to the rationalization of brands, especially in markets like India, where local agencies often hold stronger cultural equity than their global counterparts.

<a href="https://www.storyboard18.com/brand-makers/blockbuster-ad-deal-omnicoms-takeover-of-ipg-to-reset-global-order-49865.htm">Read more: Blockbuster Ad Deal: Omnicom's takeover of IPG to reset global order</a>

<a href="https://www.storyboard18.com/advertising/omnicom-ipg-deal-will-it-affect-the-ad-order-in-india-49900.htm">Read more: Omnicom-IPG Deal: Will it reshape the ad order in India?</a>

Ashish Bhasin, founder of The Bhasin Consulting Group, further notes that the frequent rebranding and restructuring of agencies like IPG-owned Lintas, a brand with deep roots in India, can erode the value these names hold in specific markets. 



<blockquote>As holding companies align globally, brands with varying or limited international recognition may face extinction, sacrificing their unique cultural significance.</blockquote>



This tendency to streamline brands for operational efficiency is not without precedent. Similar moves have unfolded at WPP and Dentsu, where a once sprawling portfolio of agency brands has been pared down, allowing for a more streamlined operation and a muddling of agency brands.

Experts argue that such consolidation may come at the expense of creativity and cultural individuality. 

Nisha Singhania, CEO of Infectious Advertising, cautions that in an industry built on relationships and ideas, the value of an agency brand lies not just in its name, but in its distinct culture and values. When agencies are subsumed under a “one-size-fits-all” structure, clients seeking bespoke solutions may find themselves lost in the shuffle.

Gautam Reghunath, CEO of Talented, points to the example of Webchutney, which flourished after being integrated into the Dentsu network in 2012. "I loved how dentsu went about our integration within the dentsu aegis network in 2012-13. They saw a brand in webchutney that deserved a bigger stage and gave us one," says Reghunath, prefixing his statement with the view that ‘webchutney’ as a brand "may be next to non-existent now."

Such examples may spotlight the potential for acquirers to strategically leverage new brands to fill gaps in their portfolios. Still, these acquisitions often raise the issue of how to balance operational synergies with the creative identities that made these agencies successful in the first place. A few years ago, Regunath, who was leading dentsu Webchutney left, with several others, to start Talented. Another independent firm acquired by dentsu was Taproot, at one point the hottest creative shop in India. That is no longer the case for Taproot dentsu, a part of a larger entity - Dentsu Creative.

Ultimately, the fate of agency brands in the global holding company era is not a simple matter of obsolescence. 

As Arnab Mitra, founder of Liqvd Asia, puts it, while mergers may sometimes threaten the legacy and emotional equity of established brands, they are also driven by market realities. The real challenge for holding companies lies in how they manage the balance between the efficiencies of consolidation and the preservation of the creative, cultural identities that made these agencies distinctive. 

“Merging agency brands without sufficient consideration of their cultural and creative identities risks alienating talent and clients who were drawn to the uniqueness of these brands,” Mitra warns. 

But, as consolidation continues, independent agencies may find room to thrive, industry observers indicate. These smaller firms, often more agile and purpose-driven, represent a counterpoint to the monolithic structures of the large holding companies. They offer a glimpse into a future where creativity, culture, and commerce intersect in dynamic ways, driven by a commitment to individuality over process. While the loss of iconic agency names may be a blow to the industry’s heritage, it could also pave the way for a new era of entrepreneurial spirit and innovation.

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