IPG Mediabrands launches Magna in India, to spearhead centralised buying…

24 Jul,2017

 

By A Correspondent

 

IPG Mediabrands, part of the Interpublic Group of Companies, Inc, has launched Magna in India. Magna is the centralised IPG Mediabrands resource that will develop intelligence, investment and innovation strategies for agency teams and clients. The agency will utilise key insights, forecasts and strategic relationships to provide clients with a competitive marketplace advantage.

 

IPG Mediabrands India will roll out Magna  in India from August 2017. Two senior IPG Mediabrands captains, Hema Malik, COO, Lodestar UM and Arun Sharma, Managing Partner, Initiative, will become joint heads of Magna  in India in addition to their current roles.

 

While insights and forecasts are key, what’s noteworthy is that Magna will aggregate spends across all IPG agencies to drive beneficial rates and maximum value for the clients. With $37 billion of clout in the global market, and $17 billion in the US, Magna will control not just the price but also the quality of the clients’ investments. Magna’s Sports & Live Events is the dedicated sports investment division that manages media spends on behalf of the clients across all sports and entertainment outlets.

 

So will Magna be like the Central Trading Group of GroupM? No, we were told by an industryperson. In fact buying at IPG Mediabrands agencies will continue to also be governed by individual agencies and/or client teams. Magna will however leverage better pricing for key and large clients. There will be no buy-and-sell or bulk-buying.

 

Meanwhile, as data and technology continues to transform the advertising and marketing industry, the Magna Innovation team will  identify, understand and activate new media buying approaches, notes a communique. Magna Intelligence, on the other hand, is an information repository on advertising and media. Magna’s ad forecasts are published regularly, including by MxMIndia.

 

Said Shashi Sinha, CEO, IPG Mediabrands India: “We spent the last five years integrating and aligning the IPG Mediabrands businesses in India and in the process we have consolidated ourselves at the second largest media investment network in the country. Going forward, our aim is to make IPG Mediabrands the most sophisticated and cutting-edge media holding company in India. Therefore it will be our endeavour to bring in new line of global services to the country that will deliver better results for our client’s businesses,” adding: “While we have firmly placed ourselves as the #2 media network in the country, the ambition is to further improve our market share in India. One of the ways of doing that will be launching the most advanced and pioneering services in India that will help us transform the entire media business in India.”

 

Talking about the launch, Hema Malik, said, “I am extremely charged up on this new responsibility.  Our scale backed by market intelligence and strong relationship will give us a competitive advantage in the dynamic media marketplace.” Added Arun Sharma:“There is lot of latent potential within the agency that’s going to be unraveled with launch of Magna for the betterment of the whole ecosystem, i.e., our clients, media partners and the agency. I believe the timing is just right and I am absolutely delighted with the new responsibility.”

 

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