India has the potential to become Wavemaker’s third-largest global market in the future, with a unique leadership position in the fusion of data, technology, and creativity, according to Hamish Davies, the Global Chief Growth and Marketing Officer of Wavemaker.
Wavemaker’s India division has secured new business worth ?1,750 crores in the first half of the year, as the company heavily invests in emerging areas like tech, data, and content, said a top official of the global media agency.
“In 2022, we won ?700 crore worth of new business, which is almost 2.5 times the number of wins compared to last year,” shared Ajay Gupte, CEO of Wavemaker South Asia, with ET.
Among the new clients acquired by the agency are Reckitt Benckiser, Star Health Insurance, Abhi Bus, and Havmor, alongside existing clients such as Mondelez, L’Oreal, Perfetti Van Melle, and Tata Consumer Products.
Gupte emphasized the agency’s significant investment in data, technology, and content over the past few years, with 30-35% of Wavemaker India’s employees involved in these areas.
“At least 90% of our hires in the last year are focused on transformation areas,” Gupte noted, while reaffirming that media planning remains at the core of the agency. He also highlighted that Wavemaker has the lowest attrition rate within GroupM, which possesses the lowest attrition rate in the media agency ecosystem.
Wavemaker India is part of GroupM, the media investment arm of advertising giant WPP, and currently employs 800 professionals across five office locations.
Davies acknowledged that media agencies have lost talent to tech giants like Meta, Google, and Amazon due to their attractive compensation packages. However, he mentioned that some talent has returned to agencies because of the broader range of responsibilities and opportunities they offer.
Furthermore, Davies stated that the agency aims to generate 25% of its revenue from diversified services globally.
“The media agency business is in a strong position. We began the year with a $4.5 billion pipeline, which represents all the live pitches we have globally,” Davies explained.
According to the seasoned advertising professional, India is a crucial market for Wavemaker due to its demographics and the immense potential for building new brands.
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Basant Kasayap is an entertainment aficionado who delves into the glitz and glamour of the entertainment industry. From Hollywood to Bollywood to regional cinema, she offers readers an insider’s perspective on the world of movies, music, and pop culture.
