More repercussions of the Percept-Carat break-up are surfacing. With Carat’s media expertise no longer available, Percept has launched its own media division – ‘Percept Media’. Percept Holdings has announced the acquisition of ex-Carat COO Shripad Kulkarni’s Allied Media and launch of Percept Media, a full service 360-degree media offering. It has also announced restructuring of its media businesses to strengthen the new ‘true 360-degree media offering’.
Percept will also bring all existing media services – viz. Posterscope, PDM, Web Percept, P9 Integrated, Tiger Sports and Percept Activa – under the newly structured Percept Media to complete and create India’s only true 360-degree media offering.
Kulkarni will continue to lead Allied Media as a key stakeholder. Ajay Upadhyay, President (Corporate Affairs), Percept Holdings, is leading the restructuring and resourcing process for Percept Media.
Percept Media is set to cross capitalised billings of $150 million in the first year (2007) itself, aiming for a top five industry slot. The integrated true 360-degree offering will initially be offered through Percept Media’s infrastructure in Mumbai and Delhi and subsequently extended to over 23 locations across India.
Percept Media currently has a team strength of 300, which is slated to further increase to about 350 by mid-2007. Shailendra Singh, Joint Managing Director, Percept Holdings said, “In just the first year of operations of Percept Media, it will rank amongst the top five media service businesses in India. Percept Media is also India’s first true 360-degree media service.”
Geared to meet the current and emerging market needs, Percept Media will offer turnkey solutions in conventional and traditional media, out-of-home, below the line, activation, retail, rural, experiential marketing, entertainment marketing, new media, digital and interactive media, sports marketing, sponsorships and endorsements.
The media buying and execution benchmarks / metrics will be mutually agreed between Percept Media and its clients. The post campaign audits will be tracked by one of the big four audit firms to confirm adherence to the agreed benchmarks and metrics ensuring true transparency in the media buying and delivery process.
Kulkarni, CEO of Allied Media, said, “I am happy that Percept chose us to partner in their new media initiative as our vision and views on ‘media ethics’ match. We will set a norm in the media business, by ushering in an era of ethical media buying and transparency.”
He further said, “Percept Media will have a dedicated 23-city intranet network in place soon, which will facilitate the centralised planning and buying with the capability to ‘execute and activate’ at a localised level. The strong IT network will enable a bottom up planning approach instead of the traditional top down models.”
Percept Media will provide a unique media service delivery platform through its micro-marketing infrastructure with the support of IT-based networks. This will ensure reduced national and regional response time apart from increased speed and efficiency for clients.
This announcement comes on the back of an ‘all cash’ deal to buy back all of Aegis Group Plc’s shareholdings in PDM India and Posterscope India. Percept has now formally exited its relationship with Aegis. Percept has bought back all of its media business, which was earlier committed to Carat India, under the joint venture agreement with Aegis and will now handle it in-house.
All independent companies and divisions under Percept Media will work together as Percept Media and also independently in their respective business domains.