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Tag: Steve King

  • Publicis Media creates future-focused NexGen board, to drive transformation

    MUMBAI: Publicis Media has created a next generation board which will work with the company’s global executive group to address opportunities and drive transformation across the company.

    Board members have the full support from local and global leadership, providing a real opportunity to influence the direction of all brands and practices within Publicis Media, challenge the status quo and implement global initiatives and projects

    Launched across 15 markets – US, UK, Nordics, MENA, Singapore, DACH, Italy, India, Mexico, Australia, Poland, China, Russia, UK, Spain and France – the aim is to foster a spirit of collaboration across a group of high-performing individuals from around the world.

    Each local board comprises of 8 -15 employees identified as future leaders and representing diverse skillsets. They will work together to architect and activate medium to long-term deliverables that increase employee engagement and advance Publicis Media’s Trust, Talent and Transformation vision.

    A survey by Delloitte of over 7,700 millennials (those born after 1982) across 29 countries who are in full-time employment, found that millennials believe businesses need to do more to bridge the gap between current leadership and the new generation of business leaders. This effort looks to deliver on this front while also more deeply harnessing this group’s perspective for agency and client benefit.

    Steve King, CEO, Publicis Media, said, “Our next generation of leaders are the future of this company. It is vital that they play a significant role in creating Publicis Media’s future, from both a talent and client perspective. The launch of the next generation board is about challenging and disrupting how we currently do things, to the benefit of all stakeholders. We had our first global board meeting earlier this month, which ran in parallel with the global Publicis Media board, and we were incredibly impressed with the proposals that were presented, some of which we have already started to adopt. The energy and new perspectives that they bring are fundamental to our ongoing transformation and success.”

    “The next generation board infuses fresh thinking into the organisation and brings forward proposals and opportunities that are truly creative, innovative, collaborative and path-breaking. The Publicis premise of ‘Power Of One.’ resonates through this landmark initiative which cuts through regions, markets and boundaries.” says Anupriya Acharya, CEO, Publicis Media India.

    Representatives from each of the local boards will meet four times a year to work on delivering specific global initiatives. The first of these meetings took place earlier this month and the company is already acting on the proposal by next generation board to harmonise communication across all global talent through the use of innovative new mobile technologies.

    Here’s what the Next Gen Board across the Asia Pacific thought:

    Tanushree Radhakrishnan, Managing Partner, Performics.Resultrix in India says, “It was an absolutely brilliant and enriching experience to collaborate with the sharpest minds from 15 countries and work on the organisational challenges. It was exciting that I could actually present my thoughts to the Global Executive Group and work towards bringing a real change at a local and global level. I am honoured to be a part of the very first Next Generation Board and I am really looking forward to the implementation of our proposal.”

    “I found the idea behind the Next Gen Board rather revolutionary. This is a cool initiative by the company in its thoughts and actions to want a bold, disruptive change transforming employee engagement. The experience of being in London working on everyday challenges our company was facing and presenting our honest feedback/solutions to the global leadership team who listened and stayed open was phenomenal,” said Joanne Fu, Media Manager, Starcom Singapore.

    “I think one of the best parts about the next generation board is the permission from the business to challenge the thinking, of not just our local executive group, but also the most senior leaders in our organisation. I get to work with the top talent across Publicis Media on a weekly basis to try and solve operational issues that are affecting the entire industry, that’s pretty unique. The hands-on experience and unprecedented access to senior leadership is something I am greatly looking forward to,” said Scott Ramsay Strategist Starcom Australia.

    “This initiative further strengthened my faith in Publicis Media. I would have never imagined a day where a younger generation staff gets to propose changes to the company where it’s being implemented,” said Olivia Zhang, Senior Strategist, Publicis Media China.

  • Publicis Media restructures organisation

    Publicis Media restructures organisation

    MUMBAI   Publicis Media CEO Steve King has unveiled structure and leadership appointments for the organization. “We are driven to get to the future first,” said King. “Publicis Media is a fresh opportunity to simplify our organisation, invent more modern approaches to gain efficiency, introduce structures for greater collaboration and effectiveness, and drive new levels of scale and client value.”

    “The new Publicis Media imagined by Steve King is fully equipped to fit the future and best serve our clients,” Publicis Groupe chairman and CEO Maurice Lévy endorsed, “A leaner and simpler structure will bring more value to our clients and will further accelerate our growth.”

    Publicis Media’s structure will cover Top 20 markets, organised by three regions and led by Regional CEO for the Americas Tim Jones, Regional CEO for EMEA Iain Jacob, and Regional CEO for APAC, Gerry Boyle.

    At a global management level, Adrian Sayliss will become CFO for Publicis Media, Séverine Charbon will become the Chief Talent Officer for Publicis Media, and John Sheehy will oversee Global Clients for Publicis Media.

    Publicis Media will consolidate its six global agency brands: Starcom, Mediavest, Spark, Zenith, Optimedia and Blue 449 into four global agency brands namely Starcom, Zenith, Mediavest | Spark and Optimedia | Blue 449. Starcom and Zenith will each continue to operate as global agency brands while Mediavest | Spark will be a third large global agency brand and Optimedia | Blue 449 will be brought together to form a powerful global challenger brand.

    Each agency will be led by a Global Brand President with Lisa Donohue as Global Brand President for Starcom, Vittorio Bonori as Global Brand President for Zenith, Brian Terkelsen as Global Brand President for Mediavest | Spark, and Andras Vigh as Global Brand President for Optimedia | Blue 449. These

    Global Brand Presidents will be responsible for leading clients, driving growth and enabling best work.

    Additionally, there will be four US CEOs with Chris Boothe becoming CEO of Mediavest | Spark,

    Dave Ehlers of Optimedia | Blue 449, Lou Rossi continuing at Zenith and Lisa Donohue continuing as US CEO for Starcom until a successor is named. All US brand leadership will report into Tim Jones, CEO of Americas.

    Dave Penski will become Chief Investment Officer for Publicis Media in the U.S. overseeing all media investment and media vendor partnerships. He reports to Jones. Publicis Media’s U.S. consolidated investment power, estimated at $39 Billion and 33% market share, makes Publicis Media the largest media buying entity in the U.S., according to RECMA’s most recent Overall Activity Ranking Report.

    Powering Publicis Media will  be seven centralised ‘Global Practices’ that standardise approaches, scale quickly and deliver connectivity, consistency, that span geography, agency brands and clients.

    These Global Practices will be:

    •     Data, Technology & Innovation led by Stephan Beringer

    •     Content led by Belinda Rowe

    •     Trading & Buying led by Simon Pardon

    •     Performance led by Michael Kahn

    •     Business Development & Communications led by Lauren Hanrahan

    •     Business Transformation led by Richard Hartell

    •     Analytics, Research & Insight led by Steve Simpson

    In this new model, the agency network names of Starcom Mediavest Group and ZenithOptimedia Group are retired to better enable a flatter organisational structure. Publicis Media will deliver client value through combined scale and capabilities of our media agency brands.

    VivaKi capabilities will be fully integrated into Publicis Media’s Global Practice model. Performics will remain Publicis Media’s global performance marketing brand and scale across all agency brands.

    The reorganisation of Publicis Groupe’s media capabilities into a Publicis Media hub is part of Publicis Groupe’s transformation efforts previously announced. Publicis Groupe is organised into four Solutions hubs—Publicis Communications led by Arthur Sadoun, Publicis Media led by Steve King, Publicis.Sapient led by Alan Herrick and Publicis Health led by Nick Colucci—which are connected through a Chief Revenue Officer organization, led by Laura Desmond, which will deliver client satisfaction across Publicis Groupe’s entire range of services.

  • Publicis Media restructures organisation

    Publicis Media restructures organisation

    MUMBAI   Publicis Media CEO Steve King has unveiled structure and leadership appointments for the organization. “We are driven to get to the future first,” said King. “Publicis Media is a fresh opportunity to simplify our organisation, invent more modern approaches to gain efficiency, introduce structures for greater collaboration and effectiveness, and drive new levels of scale and client value.”

    “The new Publicis Media imagined by Steve King is fully equipped to fit the future and best serve our clients,” Publicis Groupe chairman and CEO Maurice Lévy endorsed, “A leaner and simpler structure will bring more value to our clients and will further accelerate our growth.”

    Publicis Media’s structure will cover Top 20 markets, organised by three regions and led by Regional CEO for the Americas Tim Jones, Regional CEO for EMEA Iain Jacob, and Regional CEO for APAC, Gerry Boyle.

    At a global management level, Adrian Sayliss will become CFO for Publicis Media, Séverine Charbon will become the Chief Talent Officer for Publicis Media, and John Sheehy will oversee Global Clients for Publicis Media.

    Publicis Media will consolidate its six global agency brands: Starcom, Mediavest, Spark, Zenith, Optimedia and Blue 449 into four global agency brands namely Starcom, Zenith, Mediavest | Spark and Optimedia | Blue 449. Starcom and Zenith will each continue to operate as global agency brands while Mediavest | Spark will be a third large global agency brand and Optimedia | Blue 449 will be brought together to form a powerful global challenger brand.

    Each agency will be led by a Global Brand President with Lisa Donohue as Global Brand President for Starcom, Vittorio Bonori as Global Brand President for Zenith, Brian Terkelsen as Global Brand President for Mediavest | Spark, and Andras Vigh as Global Brand President for Optimedia | Blue 449. These

    Global Brand Presidents will be responsible for leading clients, driving growth and enabling best work.

    Additionally, there will be four US CEOs with Chris Boothe becoming CEO of Mediavest | Spark,

    Dave Ehlers of Optimedia | Blue 449, Lou Rossi continuing at Zenith and Lisa Donohue continuing as US CEO for Starcom until a successor is named. All US brand leadership will report into Tim Jones, CEO of Americas.

    Dave Penski will become Chief Investment Officer for Publicis Media in the U.S. overseeing all media investment and media vendor partnerships. He reports to Jones. Publicis Media’s U.S. consolidated investment power, estimated at $39 Billion and 33% market share, makes Publicis Media the largest media buying entity in the U.S., according to RECMA’s most recent Overall Activity Ranking Report.

    Powering Publicis Media will  be seven centralised ‘Global Practices’ that standardise approaches, scale quickly and deliver connectivity, consistency, that span geography, agency brands and clients.

    These Global Practices will be:

    •     Data, Technology & Innovation led by Stephan Beringer

    •     Content led by Belinda Rowe

    •     Trading & Buying led by Simon Pardon

    •     Performance led by Michael Kahn

    •     Business Development & Communications led by Lauren Hanrahan

    •     Business Transformation led by Richard Hartell

    •     Analytics, Research & Insight led by Steve Simpson

    In this new model, the agency network names of Starcom Mediavest Group and ZenithOptimedia Group are retired to better enable a flatter organisational structure. Publicis Media will deliver client value through combined scale and capabilities of our media agency brands.

    VivaKi capabilities will be fully integrated into Publicis Media’s Global Practice model. Performics will remain Publicis Media’s global performance marketing brand and scale across all agency brands.

    The reorganisation of Publicis Groupe’s media capabilities into a Publicis Media hub is part of Publicis Groupe’s transformation efforts previously announced. Publicis Groupe is organised into four Solutions hubs—Publicis Communications led by Arthur Sadoun, Publicis Media led by Steve King, Publicis.Sapient led by Alan Herrick and Publicis Health led by Nick Colucci—which are connected through a Chief Revenue Officer organization, led by Laura Desmond, which will deliver client satisfaction across Publicis Groupe’s entire range of services.

  • Publicis undertakes major client-centric restructuring for 2016

    Publicis undertakes major client-centric restructuring for 2016

    MUMBAI: Publicis Groupe is undertaking a major client-centric restructuring of its business model, which will see agency breaking down its disciplines into four distinct ‘solution hubs’ with each client that will be led by a chief client officer.

     

    With effect from 2 January, 2016, the change also includes a new role for Leo Burnett’s APAC chairman and CEO Jarek Ziebinski.

     

    The Groupe’s disciplines will now be organised across four solutions hubs namely Publicis Communications, Publicis Media, Publicis.Sapient and Publicis Healthcare.

     

    Publicis Communications will be led by CEO Arthur Sadoun and will comprise all creative networks: Publicis Worldwide, MSL, Nurun, Saatchi & Saatchi, Leo Burnett as well as BBH and Marcel. It will also include the production hub, Prodigious.

     

    Publicis Media will be led by CEO Steve King and will bring together Starcom Mediavest, ZenithOptimedia, Vivaki, Performics, MRY, Moxie or RUN and all the associated entities. All clients will benefit from the economies of scale and research efforts, key elements in this field. 

     

    Publicis.Sapient is a platform designed for tomorrow’s world: a world of digital platforms. Led by Alan Herrick as CEO, this hub includes Sapient Consulting, SapientNitro, DigitasLBi, Razorfish and all the associated entities. Clients fully benefit from R&D investments, cutting edge technology solutions and the Groupe’s leading position in e-commerce, as well as new tools that will transform their marketing approaches and their business models. 

     

    Publicis Healthcare led by CEO Nick Colucci is a fully integrated Health and Pharma solution. It covers all of the Groupe’s clients’ needs, from a new product launch to the transition to generic branding, including digital applications and sales force management. 

    Each Brand, for instance Saatchi & Saatchi, ZenithOptimedia or DigitasLBi, will keep expanding, with its own culture and specific approach to creativity and services. The identity and the success of each of the Groupe’s brands will be preciously preserved and nurtured. 

    The Groupe generates more than 90 per cent of its revenue in about 20 countries. As a result, many other countries don’t get the attention they rightfully deserve and the Groupe footprint is often too fragmented. This is why all of these countries will now be managed through a dedicated Groupe entity, Publicis ONE, with will be led by Ziebinski as CEO.

     

    In the Publicis ONE countries, all entities will be reunited under one roof and one management team. This will ensure a better coordination of all client services while respecting strictly confidentiality rules. These structures will attract great talent, both through their scale and comprehensiveness. 

     

    Businesses all over the world, no matter their industry, are continuously faced with the upheavals brought on by digital and the constant evolutions affecting our society, the way we work, communicate and consume. In order to better advise and serve its clients, Publicis Groupe decided to radically modify its business model by putting the client at the heart of its organisation.

     

    The idea consists of reversing its current structure, built around the concept of worldwide networks, by breaking down silos in order to offer clients the Groupe’s entire know-how and expertise through the “Power of One”: all Publicis Groupe capabilities will be available to each of its clients – in a simple, flexible and efficient way. A bit like a smartphone: powered by sophisticated technology but very easy to use.

     

    From now on, the Groupe will gauge its performance using a new standard: client service, led for each client by a chief client officer. This person will be responsible for the entire range of services and skills the client can benefit from, no matter the discipline or the country. Whenever possible, the dedicated teams will be gathered under one roof.

     

    The teams of chief client officers will be supervised by a Groupe chief revenue officer. Laura Desmond will fulfil this newly created role. The mission will be to simplify the way clients access the range of solutions, without duplication or delay, and to accelerate the Groupe’s growth and development. Laura Desmond will also be responsible for the Groupe’s growth (new business and future developments).

  • Internet advertising to overtake television in 2018: Zenithoptimedia

    Internet advertising to overtake television in 2018: Zenithoptimedia

    MUMBAI: Even as desktop internet advertising continues to grow, it is slated to lose market share for the first time this year, dropping from 19.8 per cent of global adspend in 2014 to 19.4 per cent according to ZenithOptimedia’s new Advertising Expenditure Forecasts.

    By 2017, ZenithOptimedia forecasts desktop internet to account for 19.1 per cent of global adspend. Meanwhile, mobile internet advertising’s share of the global ad market will rise from 5.7 per cent in 2014 to 15 per cent in 2017. Overall, internet advertising will account for 34 per cent of global adspend in 2017, slightly behind television’s 35.9 per cent.

    The market share gap between the two media will narrow from 13.3 percentage points in 2014 to 1.9 in 2017. At this rate of growth, internet advertising will overtake television in 2018.

    On the other hand, print adspend continues to decline across most of the world, as it has done since 2008. The report predicts that newspaper adspend will shrink by an average of 4.9 per cent a year through to 2017, while magazine advertising will shrink by 3.2 per cent a year. Their combined share of global adspend has fallen from 39.4 per cent in 2007 to 19.6 per cent this year, and we expect it to fall further to 16.7 per cent by 2017.

     

    Mobile advertising to overtake newspapers in 2016: 

     

    Mobile internet advertising will overtake newspaper advertising next year, accounting for 12.4 per cent of global adspend while newspapers account for 11.9 per cent, according to ZenithOptimedia.

    Mobile internet will be the third-largest advertising medium, behind television and desktop internet. Mobile advertising will grow 38 per cent in 2016 to $71billion, while newspaper advertising will shrink four per cent to $68 billion.

    Mobile advertising remains the driving force behind the growth of the entire advertising market, contributing 83 per cent of all new ad dollars between 2014 and 2017.

     

    Global adspend to grow 4.0 per cent in 2015

     

    ZenithOptimedia forecasts that global adspend will grow four per cent to reach $554 billion in 2015, and will accelerate to five per cent growth in 2016, boosted by the 2016 Summer Olympics in Rio and the US Presidential elections. Adspend will then slow down slightly in the absence of these events, growing 4.4 per cent in 2017.

     

    Mature Markets to lead adspend growth for the first time in nine years

     

    ZenithOptimedia has reduced its forecasts for adspend growth in 2015 since its June forecast by 0.2 percentage points. There has been broad-based deceleration across the world as marketers have moderated their expectations of global economic growth. With Brazil and Russia in recession, and China slowing down, the world can no longer rely on emerging markets to set the pace of growth. The agency expects ‘Mature Markets’ (defined as North America, Western Europe and Japan) to contribute more to global adspend growth this year than ‘Rising Markets’ (everywhere else), for the first time since 2006. The agency says that this is a temporary aberration, however – Rising Markets will become the leading contributors to ad market growth again in 2016, and will increase their market share from 37.4 per cent in 2015 to 38.8 per cent in 2017.

     

    China slows but is still growing twice as fast as the world as a whole

     

    China’s ad market has not been substantially affected by the turmoil in its stock market, but the slowing economy and concerns about the potential for future growth have caused advertisers to moderate their spending slightly. The report forecasts adspend growth in China to fall from 10.5 per cent in 2014 to 7.8 per cent in 2015 – a rate of growth that’s still twice as fast as the global ad market’s, and which places China as the 13th – fastest growing ad market of the 81 that the agency covers.

     

    Low oil prices weigh on big producers

     

    While beneficial for the global economy – and the ad market – as a whole, low oil prices are depressing activity in the big oil producers. The report forecasts double-digit declines in adspend this year in Azerbaijan, Nigeria and the United Arab Emirates, and declines of seven – eight per cent in Kuwait and Saudi Arabia. In Russia, the problem of low oil prices has been exacerbated by international sanctions, leading to an estimated 14.1 per cent drop in adspend this year.

    “Mobile technology is rapidly transforming the way consumers across the world live their lives, and is disrupting business models across all industries. We are now witnessing the fastest transition of ad budgets in history as marketers and agencies scramble to catch up with consumers’ embrace of the mobile way of life,” said ZenithOptimedia worldwide CEO Steve King.

  • ZenithOptimedia predicts 4.6% ad growth to $525 bn in 2013

    MUMBAI: Publicis Groupe’s research agency ZenithOptimedia has said in its latest forecast that global ad expenditure will grow 4.6 per cent to touch $525 billion in 2013.

    Continuing the trend that started with the economic downturn in 2007, the growth next year also will be led by developing markets predicted to grow by 8 per cent on average in 2013. Central and Eastern Europe are expected to bounce back after a tough 2012 with 7.4 per cent growth in 2013 ($28.592 billion), while Asia Pacific (excluding Japan) will grow by 8.2 per cent ($148.423 billion) and Latin America by 10.1 per cent ($41.935 billion). North America which has had a particularly strong 2012 owing to record Olympic audiences and heavier than expected political advertising in the US is expected to grow at a solid 3.6 per cent in 2013 ($178.313 billion).

    The digital medium will continue its strong growth into 2013 and is expected to grow at 15.1 per cent as compared to traditional media which is set to grow at 2.3 per cent.

    The agency has also revised it for the remainder of 2012 slashing the growth further from 4.3 per cent (as predicted in June) to 3.8 per cent. The main reason attributed to this downgrade is advertisers in the eurozone cutting expenses in response to further economic weakness. ZenithOptimedia predicts that the eurozone spend will shrink 3.1 per cent over the course of this year as compared to the earlier 1.1 per cent decline forecast in June. Assuming the region remains intact, budgets are expected to resume slow 0.9 per cent growth in 2013, strengthening to 2.3 per cent in 2014.

    “Advertisers are broadly continuing to invest, despite the global economic concerns and issues. However, they are seeking to ensure that all expenditures are delivering strong return on investment. The US continues to deliver solid growth. This combined with the growth in developing markets and in digital media, has helped mitigate the drop in eurozone spending,” said ZenithOptimedia Group global chief executive officer Steve King.

  • Goafest firms up list of speakers

    Goafest firms up list of speakers

    MUMBAI: The Goafest Committee has announced the first list of internationally acclaimed speakers for the event.

    The speakers are: The Coca-Cola Company VP- global advertising strategy and content excellence Jonathan Mildenhall; Publicis Groupe SA COO and member of management board Jean Yves Naouri; Omnicom Group vice chairman Tim Love; ZenithOptimedia CEO Steve King; and Intel Corporation Apac director- strategy, media and integrated marketing Jayant Murty.

    The advertising Conclave will be held on 19 April, which will be followed by two days of Goafest on 20-21April.

    Goafest 2012 chairman Arvind Sharma said, “We have lined up a great festival and a fabulous line up of speakers for the Conclave as well as the seminars. The list of speakers addressing the Conclave have the width of vision and experience to make us think about ‘Ideas for impacting the full circle’- the theme of the Conclave. We will announce the seminar speaker names soon. I am certain that these speakers will present to delegates a rich future-facing perspective.”

    Another aspect Sharma touched upon was the Marketing Wizards initiative in association with the Indian Society of Advertisers (ISA). Each member of the ISA can nominate up to two rising stars from their marketing teams under the age of 30 years to Goafest 2012.

    “This year we are focusing on getting more clients to be a part of Goafest. Marketing Wizards was created as an initiative to drive young advertisers’ participation. I must share that our efforts in getting more clients participation through the Marketing Wizards initiative are delivering rich dividends. We have received a good response from young clients. Many seats have been filled and we are expecting the remaining seats to be filled in soon,” Sharma added.

    Goafest 2012 is being organised by Advertising Agencies Association of India (AAAI) and Ad Club Bombay in partnership for the fifth year.

    Over the years, specialist areas like OOH and ambient, design, digital and mobile advertising, direct, and integrated advertising have been growing in importance. In recognition of this phenomenon, in 2012, Abbies at Goafest will have provision for Grand Prix in all the nine verticals- the Grand Prix is being introduced in media awards as well.

  • China to overtake Germany as No. 3 ad economy; global ad spends recovering

    China to overtake Germany as No. 3 ad economy; global ad spends recovering

    MUMBAI: The rise of China as a powerhouse stretches to the advertising world as well. China will overtake Germany to become the third largest advertising economy in the world in 2011, behind the US and Japan.

    While the global advertising market will continue to recover steadily over the next three years, China will outpace this growth to touch $34.24 billion in 2013, a 51 per cent growth over the next three years, according to a forecast by ZenithOptimedia.

    China could soon beat Japan, a country hit by deflation and high public debt which will slow down ad growth to 5 per cent through 2013. The Chinese ad market, which is currently just over half the size of the Japanese market, will be three-quarters that of Japan in 2013, according to Zenith. 

    Meanwhile, Russia will enter the top ten list in 2012, outpacing Australia and Canada to take ninth place, and overtaking Italy to take the No. 8 spot in 2013.

     
    The global ad market is on a rebound. The global ad spends will continue to recover steadily and by 2012 will surpass the 2008 levels, according to two new research studies published today.

    Group M‘s forecast has predicted the $500 billion mark to be achieved “at some point in 2012”. According to the WPP-owned media buying agency network, the Internet will overtake newspapers as the second biggest global advertising medium behind TV. 

    ZenithOptimedia forecasts the overall ad market to grow between 4.6 per cent and 5.2 per cent annually for the next three years. Driven by the rapid growth of online video and social media, Internet advertising will lead the pack at 48 per cent growth. Outdoor advertising will grow by 18 per cent and TV and cinema 19 per cent each. Radio will lag behind with 10 per cent and newspapers and magazines will see a two per cent dip.

    ZenithOptimedia global CEO Steve King said Internet advertising “will grow three times as fast as the rest of the market as a whole” and the “importance of the internet is underrepresented” in the figures. 

    According to Publicis‘s media buying agency network, this growth over the next three years will be sponsored by the developing markets – Asia Pacific will grow by 23 per cent and Latin America by 26 per cent.

    “The key result of this update is the continued rise of developing markets and digital media, and their central role in driving global growth,” elaborated King.

    “Advertisers are investing a lot more in owned and earned media, where their activities do not count as ad expenditure in the traditional sense,” adds King.