Connect Network brings advertising industry veteran Ashish Bhasin as mentor for growth and transformation
1 min read 01 Jun 2023, 09:00 AM ISTAshish Bhasin will work with the firm to drive growth, both organically and through mergers and acquisitions
PremiumAdvertising services company Connect Network Inc, has appointed The Bhasin Consulting Group to help it build its global marketing communication services network. Ashish Bhasin, founder of consultancy, will work with the firm to drive growth, both organically and through mergers and acquisitions.
Bhasin said “Haresh Nayak, the founder of the firm and his team have done a great job with the launch of the company. Now we will introduce technologies and bring professionalism and accountability in an otherwise disorganized industry segment. We will build creative, digital media and e-commerce capabilities." He will join the company as a mentor and advisor.
Nayak added, “We want to create not just an India leading but the first 'India Out', integrated global marketing services group. The next decade belongs to India and we feel empowered to make the most of this opportunity."
According to an industry report, there will be a 15.5% increase in ad spends in India, with an increment of about ₹20,000 crore, as compared to 2022, making the entire advertising industry worth ₹1.46 lakh crore. As much as 56% of the entire pie will be spent on digital advertising, said advertising agency GroupM’s ‘This Year Next Year 2023’ report. Digital spends will grow at 20% CAGR over last year.
It added that India has also moved up to the eighth position globally in terms of ad spends and will continue to be the fastest-growing market in the top 10 markets worldwide, the report added. While, the growth of SMEs in the advertising space has been prevalent for some years, coupled with a revival in the rural economy and funding for the startup ecosystem will drive ad spends. Additionally, telecom, BFSI, retail, fintech, gaming as well as travel & tourism are expected to drive ad spending, it said.