WPP network has floated a new company in India called Matrix. The entity would be managed by GroupM's L S Krishnan, aided by Rajeev Berry. The purpose of setting up this new company is to deliver content such as advertiser funded programmes and sponsorships, in addition to delving into new media such as malls, multiplexes and the digital and mobile space.
Confirming the news, Krishnan said, "Matrix stands for new and cutting edge technology. We feel that there are enough opportunities in the market, as far as sponsored content goes, in addition to the mobile and digital space, all of which are breaking new frontiers. Though we haven't narrowed down on exactly what all we are seeking in terms of new media, we are clear that there are far greater opportunities for advertisers apart from television. As of now, we have some team members from GroupM, but we are also looking at recruiting members from other partners of the WPP network."
Matrix currently has a separate office and premises within Kamala Mills, Mumbai. It started operations from March 1.
One key area that Matrix would be looking into is malls and multiplexes. Coincidentally, Sai Nagesh's Matrix Communications is also very much in the same area with some key tie-ups with retailers like Shopper's Stop. Krishnan said, "If you ask me, this is a big enough industry and there is enough to go around for everyone. We haven't even scratched the surface as far as this market goes. Why worry about competition at the very outset?"
Matrix would have its own board of directors, comprising WPP members. Krishnan and his team would be accountable to this board. Meanwhile, GroupM is not in charge of the operating management of this company, other than transferring some key staff members. The group would be dealing with Matrix in much the same way it deals with other agencies in the WPP fold such as JWT, Ogilvy, DY&R and Bates among others.
Meanwhile, how would this affect Broadmind? M Suku, National Director, Broadmind said, "You have so many agencies in the WPP network, dealing with a variety of clients and they don't really get in each other's way. While Matrix and Broadmind could overlap in certain areas, we really wouldn't be eating into each other's profits. Matrix is a neutral company, which would deal with clients from across the WPP board. Not just Group M clients."
Krishnan began his career with The Times of India as head of ad sales. After that he joined Fulcrum at a mid-level position and left the organisation as head of buying. He spent a short time in Mediaturf, after which he joined The Media Edge. After spending sufficient time in MAXUS Delhi as General Manager, Krishnan got busy with the Matrix operations.