April 28, 2014 00:00 By WATCHIRANONT THONGTEP THE NAT
AS THE USE of digital media continues to grow in Asia, the head of IPG Mediabrands says his agency is focusing more on hybrid media to work across all the various segments in the digital field and offer one single marketing solution.
“‘Hybrid’ in our company is defined as being as comfortable with online media as with offline media, which at present is sharply divided. This means there is no online marketing versus offline marketing, but just marketing. And no TV versus online video, but just video,” Prashant Kumar, president of World Markets Asia at IPG Mediabrands, told The Nation.
IPG Mediabrands is seeing a significant shift in consumers’ content-consumption behaviour, affected by rapid adoption of technology, which has led to an explosive growth in digital allocations and accelerated return on investment (ROI).
Second only to TV, the use of digital media continues to expand in the region.
Kumar said the global advertising industry was valued at US$485 billion (Bt15.6 trillion). According to Magna Global’s annual forecast for last year, global ad revenues are set to grow by 6 per cent in 2014 to $515 billion. The Asia-Pacific region represents 29.4 per cent of the global ad market, up from 24 per cent in 2000, and is forecast to grow to 32.6 per cent by 2018.
Currently, Asia-Pacific’s digital share is nearly catching up with the global growth average, up by almost 20 per cent this year to $31.2 billion.
However, while digital is the second-largest medium in many Asian markets, the advertising industry is not entirely able to leverage its potential or integrate it in marketing plans.
“Digital is also intensely diversified: video, display, search, social, e-commerce and programmatic buying. It needs a significant investment to enhance digital offerings as well as recruit and train the talent to be hybrid, to work across all the various segments in the digital field,” Kumar said.
The future belongs to hybrid organisations and the key to that future lies in the hands of hybrid talent. Meanwhile, platforms such as display, search, social, video and mobile provide a suite of tools that deliver an efficient and effective audience reach via data, targeting and optimisation, making advertising flexible and transparent.
Asked about Thailand’s broadcasting transformation to digital terrestrial TV, the head of IPG Mediabrands said television viewing in the Kingdom had been changed forever as all current analog channels are converted to digital and new channels are added.
Meanwhile, during the transition, all current satellite-TV set-top boxes will start to carry the 24 new channels.
“This new system [will] offer consumers, brands, marketers, content providers, advertisers and media specialists great big opportunities to aggressively plan ahead and be one step ahead of the game,” he predicted.