Aegis Group Plc of UK has joined hands with the Percept Group to launch ‘Posterscope India’. The entity will offer 360-degree business model in the Indian industry covering urban, rural and retail OOH solutions. Jignesh Sharma, who was responsible for building Percept’s OOH business, would be heading Posterscope India as CEO.
In the new venture, Percept holds 49 per cent stake and Aegis has 51 per cent. Sharing more on the reason behind partnering with Percept, Koh Tai Hong, Regional Director, Posterscope Asia, says, “We have a relation with Percept since 2000. Apart from our presence in Carat, we have our events division, PDM in place too. So, it is a combination of things, our chemistry with Percept and the fact that it makes more sense to strengthen and draw benefits from one relation than get into too many.”
Percept’s OOH business currently boasts of clients like Airtel, FedEx, Sahara One, Phillips, Pantaloon and Kingsbury. The new venture has the Percept OOH team at the helm of affairs. Commenting on a few benefits of the venture to the joint entity, Sharma says, “Posterscope is a category leader. It brings worldwide learnings that would help us to grow the business in India. Also, it is a benchmark internationally in providing outdoor solutions. Better tools, research – there are a host of factors, which ensure that this is a profitable match.”
Posterscope India plans to expand operations across India from 120 people working at 16 locations currently to 375 people spread across 20 full-service locations (strategy, planning, buying, operations, etc) in 2005. It will also launch proprietary tools and practices to meet the advertisers’ needs like Orbit, Prism, Horizons and Hyperspace to explore and create new OOH channels and new media options.
Koh Tai Hong, CEO, Posterscope (Asia Pacific) adds, “India presents a vast and common, yet diverse, market that offers a dream of opportunity for OOH business. While it has leapfrogged in various aspects of technology adoption across categories, OOH business is still at an evolving stage and the global expertise of Posterscope in providing state-of-the-art and innovative solutions will surely provide a communication experience seen never before in the Indian market.”
Posterscope India officials express that the Indian market is on its way to consolidation. One reason triggering OOH media growth is the growth of new media. New media share is 20 per cent of OOH and is growing at 100 percent annually. Also, factors like shift in the market towards organised sector and shift to non-metros play a crucial role in the development of this medium.