JWT acquires stake in Hungama Digital
The new entity will be a full service digital agency specialising in digital marketing and social media solutions
JWT has acquired a majority stake in Hungama Digital Services, the digital and promotions marketing division of Hungama Digital Media Entertainment.
The new entity, called Hungama Digital Services, will be a full service digital agency specialising in digital marketing and social media solutions.
Neeraj Roy, MD and CEO, Hungama Digital Media Entertainment said, “With JWT, we are now part of the largest advertising network in the world. Hungama Digital Services is the coming together of two exceptional teams in a globally relevant market.”
He added, “India is at the cusp of a digital revolution with the advent of 500+ million consumers getting online in the next three-four years. With this partnership with JWT, we hope to offer integrated digital and experiential services to our clients and prepare brands to connect, interact and now transact with their customers.”
As part of the acquisition, Hungama’ activations arm, Hungama Promo Marketing will become a part of Hungama Digital Services and provide an engagement platform linked to online and offline deliveries.
“Digital is our next new frontier. The idea of the partnership is to build a digital offering for our clients so we can live up to being a ‘single source’ partner across all their ‘marketing solutions’ needs. What will be most effective in the future is a new set of talented, digital high-end specialists who will add new skills and capabilities to what JWT already offers to its clients. We want all our clients to be leaders in their respective categories,” said Colvyn Harris, CEO, JWT India.
He added, “With this acquisition, Hungama Digital Services along with JWT Digital capabilities will be a digital thought-leader with delivery capability in digital ideation, production, and social media. By our association with many of India’s largest clients, Hungama Digital Services will be able to create the right traction and critical mass within the digital and business community in India.”
JWT Asia Pacific has moved aggressively into the digital space over the last year, expanding both, organically and through acquisitions. Most recently XM Asia, a JWT company, agreed to acquire Magnivate, Indonesia’s leading digital agency.
“We have greatly expanded our digital capability across the region, and we are not standing still. JWT will continue to hire new digital experts and explore possible acquisitions across the region this year,” said Michael Maedel, President, JWT Asia Pacific.
For the record, Hungama Digital Services has been a player in the digital space for 13 years and is spread across six cities in India. The existing team of 120 people, who will join Hungama Digital Services, will continue to drive the agency.
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