“For anyone globally, APAC is an important region in the long term,” said Josh Gallagher (in pic), Asia-Pacific chief operating officer of EssenceMediacom that manages advertisement billings of more than $21 billion a year globally. “Even if North America is important from a volume perspective, APAC will have a role to play in innovation,” he added.
India is a key market for EssenceMediacom due to the quality of work that is coming out of the country, he said.
“Within APAC, it’s not as much around the volume of work as it is around the quality of work and the quality of services that we have in India. Our client base in India is a mix of global and local clients. That’s the big benefit in terms of the type of work that we can do here,” Gallagher said.
While noting that clients are treading cautiously on spending money on advertising due to the global economic uncertainty, he said the silver lining is that the consumers are actively spending money. “Ad growth across the region will not see a dip,” he added.
“Our headcount will increase with the rate of growth of our business,” Gallagher said. “Headcount will not increase in a huge way, but we will hire different types of people in areas like creative, analytics, data, and technology.”Sonali Malaviya, chief strategy and transformation officer of EssenceMediacom India, said APAC’s advertising growth trajectory has been unprecedented as the region continues to show growth even when others are facing challenges. She said India has become a separate line item in the profit and loss accounts of most agencies. She also said the agency has won some category-defining businesses during the last 3-4 months.
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