brand ambassador
The advertisement industry experienced drastic fall in revenues during the economic downturn last year. WPP, the world’s largest advertising company saw a fall in profits by 11% in 2009. Organizations in all major sectors in order to cut short their losses reduced the advertisement budgets handsomely. It is said that the health of the economy can be judged by the amount of advertisements. If its low then something is wrong and vice verse.
Interestingly, brand ambassadors form a very expensive, important and affective part of traditional advertisements. As an indication of good times for advertisement industries, Aamir Khan, a Bollywood star recently clinched an advertisement contract worth Rs. 35 crore which is more than double his next highest! It is not just him but other powerful and famous men have attracted similar growths in most of the developing industries. WPP in particular has grown this year because of its capability and resources to exploit the opportunities in developing nations like India, china and Brazil. The first two months of 2010 recorded business worth $2 billion which is 50% of the entire 2009 earnings. According to the PITCH-Madison Media Advertising Outlook 2010, after a tough 2009, the Indian advertising pie is expected to be worth about Rs 21,145 crore this year, a 13 per cent increase over the previous one. Happy times hmmm!
Hence, it is wise to infer that the advertisement industry is back on the growth track which would in turn fuel other industries.
Rogues
