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India is MindShare's blueprint for future markets: Dominic Proctor

14-March-2005
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India is MindShare's blueprint for future markets: Dominic Proctor

MindShare is looking at the Asia-Pacific region optimistically and its Indian operation is definitely a blueprint for other markets in the future, said Dominic Proctor, CEO, MindShare. Asia Pacific, primarily China and India, is a big market for MindShare and as much as 25 per cent of its global revenue comes from this region.

"We are looking at a growth of 33 per cent from this region in the next four to five years," he said.

Proctor said that the company had a good market share in India but there was certainly scope for more growth. On the consolidation of media owners, he said, "It has happened well in some countries but I think it is yet to happen properly in India. If India follows the global pattern, then there will be more consolidation here. It has started happening with the print media getting more involved with TV and vice versa, but in other markets it is far more pronounced."

On agency compensation wherein media services get paid two to three per cent as opposed to seven to eight per cent on the creative side, Proctor said, "It is up to us as a business to demonstrate to the client that we deserve to be paid more. I believe that MindShare deserves to be paid a premium price, say 20 per cent more than the current market rate."

Asked on the contribution of revenues from non-traditional media exercises versus the trend in media planning and buying both globally and in India, he said, "In India, around 20 per cent of revenues is from non-traditional media and there is certainly potential to grow. In sophisticated markets the revenue from non-traditional media is as high as 50 per cent and the trend in India is also certainly going upwards. We should be able to reach 50 per cent in India too."

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