The size of the premedia global services market is estimated to be worth $2-2.5 billion, and slated to double in the next three to four years. New York-based OfficeTiger is bullish on estimates that India has the potential to capture at least 20 to 25 per cent of the global Premedia market, and 12 per cent of other related services such as animation and design.
“We are witnessing a lot of repeat businesses, and markets are opening up across the world, including markets in Europe. We expect it to grow exponentially in the next 18 months. While our total headcount will go up to 5,000, a large chunk will be for Premedia services,” said Anupam Ahuja, Vice-President, Marketing, OfficeTiger.
At OfficeTiger, the Premedia service line offers an ‘integrated suite of creative and publishing services’ designed to take documents, marketing collaterals and presentations through the development lifecycle from development to print. The applications support the prepress value chain for books, brochures, newsletters, ad work, and financial documents including web publishing.
Presently, the Premedia services team size at OfficeTiger is around 700. “This number will grow - if not double – to at least 1,100-1,200 people by April or May next year, as the total number of people goes up from 2,700 to around 5,000,” explained Ahuja, but refused comment on the revenues of the Premedia services arm. She added, though, that Premedia was “one of the largest service lines” for OfficeTiger.
The company’s total revenues are at $100 million, through its four broad arms of Financial and Management Services, Research and Analysis, Transactional Processing, and Premedia services. Headquartered in New York, the company primarily drives operations from two major facilities in Chennai. It also has a facility in Colombo, and by end-2005, it proposes to spread operations across seven countries and 15 sites.
More than one ad agency in Chennai informs us that their creative talent has migrated to work with outfits like OfficeTiger in the recent past. “Though the nature of work is different from that of a typical advertising agency, it is creative enough and, more importantly, remunerative enough to attract talent from advertising,” remarked the creative head of a Chennai-based outfit.
On its client portfolio, Ahuja explained, “Our clients include 10 of the top 12 investment banks, law firms, print and publishing houses, retail chains, management consultancies, diversified financial institutions, real estate firms and Fortune 500 companies.”
This has proved challenging enough not just for creative pros on the lookout, but also for business development teams at advertising agencies. Positioned as a professional support services firm, OfficeTiger has been attracting agencies eager to take the brand on as a client, too. The spokesperson stated that this was not being considered actively, as of now. Premedia services, however, are pretty much on OfficeTiger’s growth agenda.