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Tag: Subhash Kamath

  • Nishant Patil and Bodhisattwa Banerjee clinch winning prizes at Advertising Rocks

    Nishant Patil and Bodhisattwa Banerjee clinch winning prizes at Advertising Rocks

    Mumbai: The second edition of Advertising Rocks, an initiative designed to encourage India’s Advertising, Media, and Marketing professionals to display their musical skills and abilities, kicked off on Day 2 of Goafest 2024. Through Advertising Rocks, individual singers have been encouraged to submit their entries and obtain the chance to entertain audiences at Goafest 2024, South Asia’s largest advertising festival.

    The participants gave stellar performances, enthralling the audiences. The winners were chosen on the basis of jury decision and live audience voting. The winners are as follow:

    Advertising Rocks – Winner – Solo Indian – Nishant Patil from Logicserve Digital Pvt. Ltd.

    Advertising Rocks – Winner – Solo International – Bodhisattwa Banerjee from VML India

    “Our heartiest congratulations to the winners and all the participants. This has been a wonderful platform to showcase the musical talent in our industry. I hope we can make it even bigger next year!” said former BBH CEO and curator of Advertising Rocks Subhash Kamath.

    Havas Media Network India CEO and Goafest 2024 Co-chair Mohit Joshi said, “Advertising Rocks was a big hit this year at Goafest, and the talent demonstrated by all participants has truly impressed us. My sincere congratulations to all winners, and I hope to see more talented performers next year.”

    At Advertising Rocks, four shortlisted performers from each of the two solo categories – Indian and International – showcased their musical talent in front of the esteemed judges: Harshdeep Kaur, Bollywood playback singer; Rajeev Raja, Founder & Soundsmith at Brandmusiq; and Merlin D’Souza, Founding Partner & Principal Composer at Brandmusiq and Music Director. The winners of both categories received cash prizes of Rs 50,000, while the runners-up were awarded with a cash prize of Rs 25,000. All entries were reviewed by Rajeev Raja, Merlin D’Souza, and Subhash Kamath.

  • Advertising Rocks to electrify Goafest 2024

    Advertising Rocks to electrify Goafest 2024

    Mumbai: Following the success of its inaugural edition, Goafest 2024 is set to bring back ‘Advertising Rocks’, an initiative that offers a unique platform for India’s advertising, media, and marketing community to showcase their musical talents. Embracing the spirit of collaboration and innovation, the organising committee invites solo performers to submit their entries. Selected participants will have the exclusive opportunity to captivate audiences at Goafest 2024, solidifying their presence at South Asia’s premier and largest creative festival.

    With two solo categories – Indian and International – Advertising Rocks 2024 promises a global showcase of musical talent. Four shortlists from each category will have the esteemed opportunity to perform for a distinguished jury and delegates at Goafest in Mumbai.  The ultimate champions will be determined through a combination of jury evaluation and live voting by Goafest attendees, ensuring a fair and thrilling competition.

    Winners in each category will be awarded a cash prize of Rs 50,000, while the first runners-up will receive Rs 25,000.

    On ‘Advertising Rocks’, Havas Media Network India CEO and Goafest 2024’s co-chair Mohit Joshi said, “Advertising Rocks is back with another exciting edition at Goafest 2024 to celebrate the musical talents of our fraternity. As a fellow music enthusiast, I can’t wait to witness the exceptional performances this year. Looking forward to this unforgettable showcase of talent.”

    Former BBH CEO and curator of ‘Advertising Rocks’ Subhash Kamath, further added, “Advertising Rocks was a big hit at Goafest last year and we’re hoping we’ll have a lot more participation in 2024. There’s so much musical talent in our industry. They deserve a platform to perform and Goafest is the perfect place for it.”

    The deadline for submitting entries for Advertising Rocks is May 15, 2024. Entries by solo performers only belonging to the Advertising, Media, and Marketing fraternity will be considered.

    Submit your entries for Advertising Rocks here.

    Presented by The Advertising Agencies Association of India and The Advertising Club, Goafest 2024 is scheduled to take place on 29, 30 and 31 May 2024 at The Westin Mumbai Powai Lake, Mumbai.

  • Subhash Kamath joins BrandMusiq board of directors

    Subhash Kamath joins BrandMusiq board of directors

    Mumbai: BrandMusiq, the pioneering audio and sonic branding agency in India known for its innovative approach to creating signature sounds for brands, is pleased to announce the appointment of Subhash Kamath to its board of directors consisting of Rajesh Patel, Hari Marar and Safir Anand. With nearly 40 years of experience in the advertising industry and a profound passion for music, Subhash Kamath brings a wealth of strategic insight and creative vision to his new role at BrandMusiq.

    Besides being on the Board, Subhash will work closely with founder, Rajeev Raja and co-founder, Ajit Varma to help build and market the BrandMusiq brand across geographies, as well as contribute to the Creativity and Innovation initiatives being set in place to propel BrandMusiq into becoming a leader in the digital environment.

    In a rich career spanning 36 years across top agencies like Ogilvy, Trikaya Grey, Bates, Publicis and BBH, Subhash held top leadership positions as well as that of being a CEO for 17 years. Subhash has been instrumental in leading strategic initiatives and driving growth for both Indian and multinational clients. His track record of success includes spearheading mergers and acquisitions for WPP and founding organizations like BBH in India, solidifying his reputation as a visionary leader in the industry. Subhash is currently working as an independent brand consultant and a mentor.  

    Beyond his illustrious advertising career, Subhash Kamath is also an accomplished musician, having served as the lead singer and guitarist of the band ‘Wanted Yesterday’ alongside Rajeev Raja, founder of Brand Musiq.

    Commenting on Subhash Kamath’s appointment, BrandMusiq founder  Rajeev Raja expresses his enthusiasm. “Subhash’s extensive experience and deep understanding of the advertising landscape make him an invaluable asset to BrandMusiq. His passion for music and proven track record of strategic leadership align perfectly with our vision of redefining the auditory landscape of branding. I have long admired Subhash’s work and am thrilled to welcome him to the BrandMusiq family.”

    Subhash Kamath, in his statement, said, “I’m a fan of brands. And nothing excites me more than helping take brands into the future. In this fast-paced digital world of consumers, sonic branding is becoming an imperative for brands seeking to create stronger emotional connections. And BrandMusiq has been doing some cutting edge work in this space. Given my love for both brands and music, I’m just delighted to be part of this amazingly talented team.”

    Rajeev Raja and Subhash Kamath share a mutual appreciation for each other’s work, having known and admired each other’s contributions to the advertising and music industry over the years. Their shared vision and commitment to excellence make them a formidable team poised to lead BrandMusiq into its next phase of growth and innovation.

    As the first and leading audio and sonic branding agency in India, BrandMusiq remains committed to pushing boundaries and setting new standards in the field of sonic branding. With Subhash Kamath on board, BrandMusiq is well-positioned to continue its mission of creating impactful sonic identities that resonate with audiences worldwide.

  • “Tujhe advertising baad mein sikhaoonga”, a Piyush-and-me story

    “Tujhe advertising baad mein sikhaoonga”, a Piyush-and-me story

    Mumbai: What could I possibly write about a man, about whom so much has already been written? How did he make Ogilvy into one of the most creative forces in the industry, the uncanny ability to spot and nurture talent, his originality that changed the face of Indian advertising, his influence on the world stage, his incredible god-like stature in our business? I have nothing new to add there.

    So, let me start at the very beginning, which, as the song goes, is a very good place to start.

    January, 1987. I was a fresher, straight out of college, when Piyush Pandey hired me as a trainee account executive. Pandey was an account supervisor then (a pretty senior position in those days, unlike the throw-away designations of today). And the first thing I learned from him was, no matter what department of the agency you’re in, you need to see yourself as a creative person. Because this is a creative business. And Pandey demonstrated that every single day.

    As account supervisor, he’d take charge of the creative on his brands. Especially when the brands needed more earthy Indian expressions and not translated from English lines. He wrote lines that are iconic even today – ‘Chamak Dhoop Si’ for Sunlight, ‘Fevicol Ka Jhod Hai, Toothega Nahin’ aur ‘Chal Meri Luna’…. all while being an account supervisor! He hadn’t moved fully into the creative department when he wrote the lyrics for “Miley sur mera tumhara”, Suresh Mullick’s beloved film on national integration. Piyush didn’t try and resort to poetry or flowery lines. He wrote simple conversational stuff, straight from the heart. Like he was literally chatting with the consumer. Great learning for me as a young AE, especially as I also got the opportunity to help him do all the storyboards for his scripts!

    Looking back, I realise that everything Piyush did, he did it by keeping it simple. And fun. The more the laughter in the corridors, the better the work that’d come out. He believed in it. We’d often meet at his home, where we’d discuss the brief, he’d write the script and I’d do the storyboard. And then, we’d sit down to eat some delicious homemade aloo parathas with a special Rajasthani dry chutney his mom had sent. For a bhukkad like me, staying in a paying guest accommodation and eating all meals outside, this was a kingly feast. One day, I think I ate 12 parathas and finished half of his favorite chutney. Finally, Pandey had to say “Saaley, bas kar! Aata khatam ho gaya!”

    However, the biggest lesson I learned from him was actually not in the office but on the cricket field.

    In 87-88, Ogilvy was one of the top cricketing teams in the CAG Shield Tournament (the ad industry’s premier sporting event). And Pandey, with his Ranji background, was naturally the team captain. During my interview, Piyush had asked me if I would bowl or bat. And I’d said, both. With his characteristic guffaw, he said, “Chal, tujhe advertising baad mein sikhaoonga. Kal subah nets pe aa jaana!”

    And boy, did he take his cricket seriously! All of us had to practice every morning from 6.00-9.00 am during the season and then go to the office for a full day’s work. Everyone had to practice fielding, catching, throwing and running before we got a chance to bat or bowl. Total task master he was, and I still have a chipped finger bone to show for it. His reasoning was very simple and firm; if you’re going to play with the company logo on your chest, you’d better put up a good show and play with pride.

    Coming to the lesson I spoke about earlier…. It was during a match we were playing against a relatively weak agency team. Their bowling was very amateurish. But as it typically happens in cricket against a weak bowling attack, you can lose wickets very quickly, because of overconfidence. So, we were 4 down already when I walked in to bat. Piyush, however, was at the other end, batting strongly on 48.

    The first few balls I faced were such dollies that I let my youthful impetuousness take over. I started swinging wildly, trying to hit each ball for a 4 or 6, even though I was not really connecting. A couple of balls almost grazed my stumps in slow motion. Which is when I saw Piyush thundering down the pitch.

    Thundering is the word, believe me, because I’d never seen him that angry, ever. He grabs me by the shoulder, sticks his face into mine and with gritted teeth, says (for the sake of public decency, I’ve deleted some of the more colorful words he used):

    Piyush: “Tujhe out hone ka shauk hai na? Toh koi acche ball pe out ho! Aur ja wapas!”
    Me: “Sorry, boss”
    Piyush: “Saale, main kitne pe hoon?”
    Me: “48.”
    Piyush: “Aur tu kitne pe hai?”
    Me: “Zero.”
    Piyush: “Phir tera role kya hai abhi?”
    Me (thoroughly chastened): “Aapko strike dena”
    Piyush: “Aur tu kya kar raha hai?”

    Lesson learnt. I put my head down and took a fresh guard. By the time our innings ended, Piyush was not out on 175, having pasted those bowlers all over the park and I was not out on 45. As we walked back together, he slightly ahead with his bat held high and me two steps behind, I realised what an important thing I’d learned that day.

    Teamwork isn’t about playing for your own glory. It’s about knowing when to play and when to rotate the strike. It’s about supporting your fellow team members and helping them play better. It’s knowing when to lead and when to follow. And this deep insight has stayed with me throughout my career as a manager and leader. Years later, I happened to meet Harsha Bhogle at a party and I asked him how he held his own in the commentary box with top cricketers like Gavaskar, Chappell, Boycott etc., and he said the same thing, “I just rotate the strike and let the experts play.”

    It’s a huge lesson, folks. Something that every leader needs to learn. Only then will your team win.

    Today, as Piyush moves to an advisory role at Ogilvy, I believe he’s done exactly that. He’s given the strike to his trusted team members and said “Go play your game now. I’m there at the non-strikers end whenever you need me.”

    Well played, my captain.

    This article has been authored by former BBH CEO Subhash Kamath.

  • Can creativity and consumer protection go hand in hand? Industry experts weigh in at Goafest 2022

    Can creativity and consumer protection go hand in hand? Industry experts weigh in at Goafest 2022

    Mumbai: Goafest 2022 kicked off with a bang after a two-year pause at Goa’s Grand Hyatt Hotel on Thursday, featuring some of the industry’s brightest minds along with the industry awards felicitating notable creative thinkers from South Asia. This year marks the advertising, media and marketing symposium’s 15th edition.

    The day one of the adfest saw an interesting mix of panels and speaker sessions with bristling conversations. There was also a knowledge session in partnership with the Advertising Standards Council of India (ASCI), wherein the ministry of consumer affairs & food distribution secretary (CA) Rohit Kumar Singh spoke with Ogilvy India chairman of global creative Ogilvy and Worldwide and executive chairman Piyush Pandey on consumer safety. The panel discussed the importance of consumer protection and the responsibility that we have as professionals. The session was moderated by ASCI chairman and BBH India CEO Subhash Kamath who asked some pertinent questions regarding brands promoting and marketing misleading information, bait advertising, and those compromising consumer interest.

    “Conceptually, creativity by its very nature doesn’t like boundaries, constantly looking at pushing the envelope and thinking out of the box,” observed Kamath, kicking off the session. “And yet consumer protection does require some responsibilities and boundaries to reign it in. So can creative ideas and consumer safety coexist and go hand in hand?”

    Singh spoke about how the keyword is that creativity is not “misleading ” the consumer and taking him for a ride, adding that the moment it crosses that line “we need to intervene.”

    “Creativity should raise the bar without crushing or at the expense of someone else’s life,” weighed in Pandey. “If you cannot show any piece of communication to your family then you can’t show it to anyone else’s family.”

    “Now, with the CPA 2020 (Consumer Protection Act) in place over the last few years, what are the priorities of the government from the consumer protection perspective, what are the things that you would really keep your eye on.”

    Singh spoke about firstly focusing on brands making tall claims and leading the consumer with false expectations and the second is on bait advertising. We have to impose penalties on such brands who try to fool the vulnerable consumer with misleading claims.

    He explained how in the new paradigm that has emerged in the past few years, there is a mad race for Customer acquisition and valuations, what is getting compromised is probably “consumer interests.” “And that is the only thing of concern for us, whether you are compromising consumer interest?”

    “While there is increased consumer awareness today, there’s also an increased risk of vulnerability with the consumer’s data, because their entire data is now available to marketers,” observed Kamath.

    “When they shop, what they do. The data that comes out is mined and those insights and that mining of those in favor leading to performing targeted marketing so is there something that we need to look at for protection from targeted marketing with data mining as well,” Kamath maintained.

    Singh said that unless a customer has permitted you to use their data, one cannot use that data. “The Data Protection Bill is before the parliament. And that will define the boundaries of what data can be shared, and widely covers all. You cannot share my data without my permission,” he emphasised.

    Singh also called out the taxi aggregators Uber and Ola on their unfair pricing algorithms. “Just last week, I personally issued notices to, I said your algorithms, cancellation charges, and the way you calculate fields are not fair,” adding that here it is literally about taking the consumer for a ride! “If we don’t look out for consumer interests, who will?” he asked.

    Singh also spoke about making the grievance redressal system more robust. The national consumer helpline gets over 4000 calls every day and over the last four years, analytics showed that calls pertaining to e-commerce have grown from eight per cent to 44 per cent. “Now, that means there’s something wrong somewhere in this rat race for customer acquisition. Something is going wrong somewhere,” he asserted.

    Appreciating that the administration was trying to have a dialogue with the rule violators, Piyush Pandey said it is heartening that the government is trying to have a more robust system in place by guiding and cautioning, rather than by ruling with fear. Speaking about creativity in advertising, he said, “Creativity is about touching millions of hearts, sometimes in three seconds. The consumer is not a moron who can get influenced easily.”

  • L&K Saatchi and Saatchi’s Paritosh Srivastava takes charge of Publicis Worldwide India

    L&K Saatchi and Saatchi’s Paritosh Srivastava takes charge of Publicis Worldwide India

    Mumbai: Publicis Groupe India on Wednesday announced that Paritosh Srivastava, the current CEO of L&K Saatchi & Saatchi will now also helm the operations at Publicis Worldwide India. Subhash Kamath and Russell Barrett – who were overseeing Publicis Worldwide India – move into a group advisory role and BBH leadership role respectively, as announced by the company earlier.

    The changes reiterate the group’s focus and investment in its strong, iconic creative agency brands, ensuring creative excellence, effectiveness, and market leadership for its clients, the company said in a statement. The appointment aims to further dial up Publicis Worldwide’s offerings and spectrum of expertise in the marketplace, with technology, experience and data-fuelled creative solutions to help clients stay ahead of the curve, in a platform world.

    “Paritosh is a proven and accomplished leader and under his leadership, L&K Saatchi & Saatchi has won large and coveted mandates, navigated the pandemic judiciously and taken the agency to a position of strength,” remarked Publicis Groupe South Asia CEO Anupriya Acharya. “He has also played an important role in the success of Publicis Worldwide in India for many years and is very familiar with its culture, talent, and key clients and hence was a natural choice.  I am confident that his appointment will benefit our clients, business and people  immensely.”

    Publicis Worldwide is a founding creative agency brand of the group and enjoys strong equity built over the years with its clients in India, having won many accolades at leading award shows. This includes Cannes Lions, where last year it became the first-ever agency brand to win five different Grand Prixes for five different clients, and others such as Clio’s, One Show, D&AD, Spikes Asia, Effies and Abbys. Publicis Worldwide India’s roster of clients includes names such as Citibank, Zee, Heineken, SKODA, Linen Club, Times Television Network, Ferrero, Enamor, HDFC Mutual Funds, Kalpataru among others.  

    “This is a huge honour and Publicis Worldwide is very close to my heart,” Paritosh Srivastava said. “I have spent eight wonderful years of my professional life in the agency. I look forward to working with its hugely talented teams, to bring in world-class, truly impactful solutions for our trusted and respected set of client partners. In the competitive backdrop of today, clients need communication solutions that impact business and are truly dynamic, bold and data-driven. Publicis Worldwide is a powerful brand for the groupe globally, we will ensure that we maintain its impeccable reputation and make it future-proof in India.”

  • Publicis Groupe announces top management rejig at BBH India

    Publicis Groupe announces top management rejig at BBH India

    Mumbai: Publicis Groupe India on Tuesday announced that it has appointed Dheeraj Sinha as chairman of BBH India, in addition to his existing mandate as Leo Burnett South Asia CEO and CSO. Partnering with Sinha will be Russell Barrett as BBH India CEO and chief creative officer. Subhash Kamath moves into an advisory role for the group on other strategic initiatives.  

    Russell Barrett has been with BBH for 12 years now and has been instrumental in making BBH India a creative powerhouse, winning several accolades including Cannes Lions, One Show Pencils, Andys, Spikes, D&ADs and London Internationals. Dheeraj Sinha comes in with 22 years of experience and under his leadership, Leo Burnett India has become one of the most recognised and awarded agencies on the world stage, said the agency in a statement. The new appointments signify the Group’s focus and investment on its creative brands.

    “I would like to thank Subhash for his leadership and contributions to BBH. Today BBH India is synonymous with truly world-class advertising,” said Publicis Groupe South Asia CEO Anupriya Acharya. “We will further accelerate the agency’s spectrum of capabilities and creative product to deliver unmatched value to clients. Dheeraj comes with an impeccable track record on growth, and this is also a testament to the strong leadership talent we have.”

    “It’s been a fantastic journey of 13 years, having founded this agency from scratch in India,” Subhash Kamath commneted. “It’s an agency built on a very strong people’s culture with creative excellence & strategic thinking at its very core. But I’ve been doing this for a very long time and as I enter the twilight of my 35-year career in advertising, I believe it’s time to hand over the baton to the next generation of leadership as I transition into an advisory role for Publicis Groupe. I’ve known Dheeraj for many years, and I know his passion for strategy & creativity. Along with Russell and Sanjay and many of the talented ‘black sheep’ in the organization, I know I’ll be leaving BBH in very safe hands.”

    “BBH is a dream brand amongst creative agencies. The brand has always believed in great work powered by sharp thinking,” said Dheeraj Sinha. “I have been a great admirer of its philosophy and the work that BBH has done globally. I am very excited with this opportunity. We have some great work, clients, and teams at BBH. Our goal will be to be one of the topmost agencies in the BBH network globally, creating work for our clients that brings them growth and glory.”

    Russell Barrett added, “BBH is an amazing brand, and this is an exciting new chapter in the exceptional story that has been scripted so far. I’ve enjoyed an enriching partnership with Subhash, Sanjay and Arvind, as we’ve done some proper black sheep work together. I now look forward to partnering with Dheeraj, who I’ve worked with before, and I can say from experience, that he brings a lot of energy and dynamism to every interaction and piece of work he touches.”

  • ASCI frames guidelines for virtual digital assets’ advertising and promotion

    ASCI frames guidelines for virtual digital assets’ advertising and promotion

    Mumbai: Noticing a significant uptick in advertising for Virtual Digital Assets (VDA) like NFT and Crypto, the Advertising Standards Council of India (ASCI) has come up with guidelines for their advertising and promotion, effective from 1 April.

    Even as the Indian government continues to work on the framework for virtual digital assets, commonly referred to as crypto or NFT products, advertising for these products has been quite aggressive over the past few months.

    ASCI noted that several of these advertisements do not adequately disclose the risks associated with such products. In order to safeguard consumer interest, and to ensure that ads do not mislead or exploit consumers’ lack of expertise, ASCI has extensively consulted with different stakeholders including the government and the virtual digital asset industry to frame guidelines for virtual digital asset advertising.

    Advertisers and media owners must also ensure that all earlier advertisements must not appear in the public domain unless they comply with the guidelines post 15 April, said the association.

    These guidelines interpret, for virtual digital assets, Chapter 1 of the ASCI code, particularly clauses 1.1, 1.4 and 1.5. that require ads to be truthful, and not mislead consumers by implication, ambiguity, exaggeration or omission, and are not framed in a way that abuses their trust or exploits their lack of knowledge.

    It is important to note that these guidelines do not amount to any legal recognition or endorsement of the industry or the sector, as that is a matter of government policy. ASCI only provides self-regulation for content of ads that are permitted by law.

    All advertising for virtual digital assets and services needs to adhere to the following guidelines: 

    (1.1)         All ads for VDA products and VDA exchanges, or featuring VDAs, must carry the following disclaimer.

    “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”

    Such a disclaimer must be made in the following manner so that it is ‘prominent’ and ‘unmissable’ by an average consumer:

    (a)    In print or static, equal to at least one-fifth of the advertising space at the bottom of the advertisement in an easy-to-read font, against a plain background, and to the maximum font size afforded by the space.

    (b)   In video, the disclaimer should be placed at the end of the advertisement against a plain background. A voice over must accompany the disclaimer in text. The voice over should be at a normal speaking pace and must not be hurried. In the case of long format video of over two minutes, the said disclaimer should be repeated at the beginning and at the end of the video. The disclaimer must remain on screen for a minimum of five seconds.

    (c)    In audio, the disclaimer must be spoken at the end of the advertisement. The voice over should be at a normal speaking pace and must not be hurried. In the case of long-format audio of over 90 seconds, the said disclaimer should be repeated at the beginning and at the end of the audio.

    (d)   In social media posts, such a disclaimer must be carried in both the caption as well as any picture or video attachments. The disclaimer within the caption must be placed upfront at the beginning of the post. Where social media posts or advertisements  have restrictions on text in the static picture, the disclaimer must be carried upfront in the caption before the fold.

    (e)    In disappearing stories or posts unaccompanied by text, the said disclaimer will need to be voiced at the end of the story in the manner laid out in points (a) or (b) above. If the video is 15 seconds or lesser, then the disclaimer may be carried in a prominent and visible manner as an overlay.

    (f)    In formats where there is a limit on characters, the following shortened disclaimer must be used “Crypto products and NFTs are unregulated and risky”, followed by a link to the full disclaimer.

    (g)   The disclaimer must be made in the dominant language of the advertisement

    (h)   In addition to the above, all disclaimers must meet the minimum requirements laid down in the ASCI guidelines for disclaimers.

    (2) The words ‘currency,’ ‘securities,’ ‘custodian’ and ‘depositories’ may not be used in advertisements of VDA products or services as consumers associate these terms with regulated products.

    (3) The information contained in advertisements shall not contradict the information or warnings that the regulated entities provide to customers in the marketing of VDA products from time to time.

    (4) Advertisements that provide information on the cost or profitability of VDA products shall contain clear, accurate, sufficient and updated information. For example, ‘zero cost’ will need to include all costs that the consumer might reasonably associate with the offer or transaction.

    (5) Information on past performance shall not be provided in any partial or biased manner. Returns for periods of less than 12 months shall not be included.

    (6) Every advertisement for VDA products must clearly give out the name of the advertiser and provide an easy way to contact them (phone number or email). This information should be presented in a manner that is easily understood by the average consumer.

    (7) No advertisement for VDA products or exchanges may show a minor, or someone who appears to be a minor, directly dealing with the product, or talking about the product.

    (8) No advertisement may show that VDA products or VDA trading could be a solution to money problems, personality problems or other such drawbacks.

    (9) No advertisement shall contain statements that promise or guarantee future increase in profits.

    (10) No advertisement may show that understanding VDA products is so easy that consumers do not have to think twice about investing.  Nothing in the ad should downplay the risks associated with the category.

    (11) VDA products may not be compared to any other asset class which is regulated.

    (12) Since this is a risky category, celebrities or prominent personalities who appear in VDA advertisements must take special care to ensure that they have done their due diligence about the statements and claims made in the advertisement, so as not to mislead consumers.

    “We had several rounds of discussion with the government, finance sector regulators, and industry stakeholders before framing these guidelines,” said ASCI chairman Subhash Kamath. “Advertising of virtual digital assets and services needs specific guidance, considering that this is a new and as yet an emerging way of investing. Hence, there is a need to make consumers aware of the risks and ask them to proceed with caution.”

     “We have seen a spate of advertising for virtual digital assets which could compromise consumer interest in the absence of some guardrails. Use of celebrities and high decibel advertising would attract consumers to these offerings, without full disclosure of the risks,” ASCI secretary-general Manisha Kapoor pointed out. “Given that this is, as of now, an unregulated space, it is even more important for advertising to be upfront regarding the risks associated with these products. Globally, this is an emerging technology and products in the virtual digital asset industry have seen significant volatility. We believe with these guidelines, advertisements would be fairer and more transparent.”

  • Subhash Kamath re-elected as Asci chairman

    Subhash Kamath re-elected as Asci chairman

    Mumbai: The Advertising Standards Council of India’s (ASCI’s) board has elected Subhash Kamath as chairman for a second consecutive term, here on Thursday.

    August One Partners LLP managing director NS Rajan was re-elected as the vice-chairman of the board. The vote, which followed the 35th annual general meeting, ensures continuity for the several initiatives the advertising self-regulator had kickstarted over the past year, Asci said in a statement.

    “We have flagged off important initiatives in the digital space, such as the influencer guidelines and the monitoring of promotional content. We are becoming future-ready in this ever-changing marketing and media landscape. The second term will allow me to push further with these initiatives, which are showing immense promise. As we expand our presence, we are engaging more with consumers as well to increase awareness of their rights,” said Kamath.

    The Asci board was expanded this year with the inclusion of members such as noted academician and social activist Dr Ranjana Kumari,  educationist Dr Indu Sahani, technology entrepreneur Rajesh Patel, and finance sector expert and former editor Rajrishi Singhal – strengthening governance through partnering with external stakeholders and civil society. 

    In a statement, the industry watchdog said it will continue its digitisation efforts on the complaints management system as well as through a new website and learning tools for the industry. It will also focus on consumer, industry, and student education and thought leadership initiatives through collaborations.

    Under Kamath, Asci has launched several initiatives which included Influencer guidelines for labelling promotional content which helped consumers distinguish paid content from organic, Alliance with French digital service provider Reech for monitoring influencer content using artificial intelligence for paid marketing communication and real-money gaming advertising guidelines introduced in collaboration with the ministry of information and broadcasting made it mandatory to inform consumers of the associated risks.

    Asci also escalated more than 200 potentially misleading advertisements based on the advisory on COVID-related advertising by the ministry of Ayush, while also issuing its own COVID advisory for advertisers in October 2020. The industry body’s ‘Chup Na Baitho’ campaign, encouraging consumers to report ads with misleading claims, reached more than one million social media users, making them aware of their rights and how to file complaints, it added.