Thai firm seeks to cash in on the trend for specialist services
Media Intelligence will open a branch in Yangon next week to provide media specialist services.
Media Intelligence Myanmar is being set up in the country’s commercial capital to cash in on the trend of the advertising industry of the separation of media specialist agencies to be in charge of activities such as planning and buying.
“We have seen that Myanmar’s advertising industry should have a similar trend as Thailand’s, so media specialists will be separated as a new profit centre,” Wasin Teyateeti, president of Media Intelligence, said yesterday.The billings target for the new venture is about Bt200 million in the first year.
Media Intelligence is following the path of its advertising agency, Far East Advertising, which opened its first overseas branch in Yangon 20 years ago as a joint venture with another Thai agency, Spa Advertising, and a local agency, Today Group.
Myanmar Spa Today Far East Advertising now enjoys the top position in Myanmar, with 70 per cent of its business coming from Thai clients and 30 per cent from Myanmar clients.
“We started talking with our local and foreign partners last year and our new media agency in Myanmar was registered in November with Bt15 million in capital,” he said.
The new media specialist is a joint venture of Media Intelligence in Thailand, Today Group of Myanmar and Chili Advertising, a subsidiary of Japanese advertising agency Chuo Senko. The agency will start operating this Sunday, June 1.
Wasin will fly to Yangon today to settle everything about the agency before the grand opening.
All of the partners’ clients will transfer their media budgets, including for planning and purchasing, to Media Intelligence Myanmar.
“All roads are now leading to Myanmar, which has been recognised as a virgin market with tremendous opportunities for whatever business,” he said.
“We need to have a good partner when doing business abroad. In Myanmar, we already have a good local partner, which has been doing business with us for 20 years now. It makes me feel brave enough to invest in and keep expanding our business.”