Spice calls for media review; spend pegged at Rs 75-80 cr
It is learnt that Spice Group, a multi-faceted group with a telecom eco-system in India, is in the process of reviewing its media business. Platinum Media is the incumbent agency.
According to senior sources in the industry, Spice Group, a multi-faceted group with a telecom eco-system in India, is reviewing its media business. Platinum Media is the incumbent agency. However, there will be no change in the creative business, with Ogilvy India continuing to be the creative AOR.
Though there was no official confirmation on the media review, senior sources close to the development have confirmed the pitch call. The company is in talks with various media agency. It is also learnt that the overall media spend on the business is estimated to be in the region of Rs 75-80 crore.
It may be recalled that in May 2009, Platinum Media had bagged the media business for Spice Group. The agency had bagged the business without any pitch rounds and the decision had come after careful consideration of Spice’s future growth trajectory, business expansion plans and strategic growth intent.
Spice Group, chaired and led by Dr BK Modi, comprises four verticals – Spice Televentures, which includes Spice Retail, Cellebrum Technologies Ltd, Spice Mobiles Ltd, Spice BPO Services, and Mobisoc Technology Pvt Ltd; Spice Enfotainment, which includes Spiceworld Malls, Spice Cinemas (movie exhibition), Spice Circle Restaurants and Music and Gaming; Spice Investment and Finance Advisors (under the brand name Spice Bulls), which looks at Asset Management & Strategic PE investments; and Spice Innovative Technologies, which focuses on IT, broadband and Internet services, and IT distribution, among others.
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