“The print media must innovate in its business model to increase its advertising revenue”

Mediacom CEO tells FE

| Updated:
Aug 02, 2022 5:40:43 p.m.

Print newspapers need to bring innovation to their business model to increase revenue, says top advertising professional.

Print media has now slipped to third position after television and digital media in terms of advertising market share, adds Mediacom Ltd CEO Ajoy Kumar Kundu.

Speaking at Mediacom’s 25th anniversary journey last week, Mr Kundu said print newspapers received the largest share of advertisements even less than two decades ago.

“The situation has changed. Print newspapers will not disappear completely, but they need to go digital in innovative ways to maintain their current position,” he told FE in his office.

In the advertising market of 30 billion Tk, according to Mr. Kundu, print newspapers receive only 600-700 million Tk, while TVs receive 1.2 billion Tk and the rest goes to the digital market.

He says digital media is growing so rapidly that there is no such thing as a “dark media” place now, adding that the local advertising market has evolved over the past 25 years.

Recalling the old days, Mr. Kundu says making an advertisement was not an easy task for advertising agencies.

“That’s because most of an ad’s top performers such as creative director, media director, and art director would have been imported.”

The industry is now almost self-sufficient and there are plenty of job opportunities here, especially for young professionals, says Mr Kundu.

The advertising industry has become a lucrative sector for a young creative workforce.

“Young people, especially business graduates, have a lot of opportunities to succeed in this field,” he continues.

Innovation and new thinking, a sine qua non for the industry, can only come from the youth.

“Hard work and perseverance in this industry can lead them to become successful professionals such as brand managers, marketers, marketing managers or business leaders in the future.”

At Mediacom, Mr. Kundu says, “We look for a few qualities in young professionals like creativity, ability to work in a team, communication skills, social media skills, time management and a genuine interest in the learning and progress.

Mediacom, a Square Group company, began its journey the second week of July 1997 with just over four people on board.

“Now we are second or third in the market,” notes the CEO of Mediacom.

The advertising agency does brand consulting, marketing communication, social communication, media planning, public relations, television and newspaper advertisements, event management and others for clients at home since 2000.

However, the agency’s journey began with media buying and planning.

Mediacom provides advertising, strategy, media planning, booking and buying services to organizations such as bKash, Bata, Brac, SMC, BCCP, FHI, KSRM, Crown Cement, Matador, bikroy.com, Akij Food and Beverage and GPH Ispat.

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