Digital is expanding at around 35-40% in India: Sir Martin Sorrell

Sorrell broadly spoke about how India is a vibrant market for advertisers and marketers

e4m by exchange4media Staff
Updated: Nov 21, 2019 9:17 AM

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Martin Sorrell

After more than three decades at the helm of WPP, last year Sir Martin Sorrell started S4 Capital -the self-described ‘new era digital advertising and marketing services company’. At an event held in Delhi, Sorrell spoke about how Digital has predominately grown over the years in India. He also emphasised that India is a huge market which has great potential in terms of business opportunities.

“If you look at the statistics for the Indian advertising and marketing services market, traditional media continues to grow because India remains one of the markets where traditional media is stronger than the average of the world. But the difference between traditional and digital growth rates is just as extreme in India as it is in any other market. Currently, digital is expanding at around 35-40% in India whereas traditional media is in high single digits or low double digits. So, the focus on digital for growth is just as relevant in the Indian market as it is anywhere else,” Martin stated.

At the event, it was also announced that their global content practice MediaMonks has acquired Delhi-based content creation and production company WhiteBalance.

With the merger, MediaMonks adds 50 experts to the team, with the intent of doubling the India business in the coming six months. MediaMonks will also continue to invest in growing the content studio in Bangalore into a creative hub for APAC and aims to size up the teams and studio facility in Delhi.

Speaking at the event, Sorrell said that the 14 most important companies right now are Google, Facebook, Amazon, Tencent, Alibaba, Apple, Microsoft, Oracle, Salesforce, IBM, Twitter, Bytedance to name a few. “TikTok  is beginning to make significant inroads with advertising revenues.”

Calling Google, Facebook, Amazon, Tencent, Alibaba, Apple, and Microsoft ‘seven sisters’, he said the last time a group of companies was referred to as ‘seven sisters’ was with the oil giants. 

Sorrell broadly spoke about the pressures on the agency business and the disruptions that are shaping the market. He said that agencies are mainly suffering because of pressure from clients and not only because of ‘frenemies’ like Google & Facebook, competition from consulting companies, and in housing. 

S4 Capital revenues are expected to touch around $350 million. With a strength of 2,000 people across 26 countries including India, S4 Capital has won several blue-chip clients including Apple, Google, P&G, Coca-Cola, Adidas, Johnson & Johnson, Netflix, Starbucks and Nestle among others.

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