Havas and Percept have entered into a media buying joint venture. As part of this partnership, Havas Media and Percept Media will form a new media buying entity called PH Media.
PH Media will be an independent entity with a dedicated infrastructure managed by a chief executive officer who will report to the PH Media board comprising of members from Havas Media and Percept Media.
Commenting on this partnership, Anita Nayyar, chief executive officer, Havas Media, India said, “We are delighted to announce this landmark joint venture with Percept. This partnership will not only ensure exponential growth by volume consolidation for the agencies but also make the new entity a strong contender with volumes upwards of INR 2,000 crores.”
Nayyar added, “It’s a win-win situation for all the three stakeholders viz. Media owners, Agency and the Clients. “This relationship means volume consolidation for both the agencies, efficiencies and value additions for our clients, and larger business for media owners.”
Shripad Kulkarni, director and chief executive officer, Percept Media, added, “We have found perfect partners in Havas Media. While discussing this partnership, we discovered that there were synergies at many levels. The common traits and DNA of entrepreneurship and hunger to grow has played a vital role in shaping this relationship.”
He also said, “The JV gives us an opportunity to break the monotony and look at Media Buying with a fresh perspective – greater emphasis on technology and research, futuristic organization structure and a whole new suite of software, tools and processes. Together, we will take Media Buying in India to the next level.”
A search is on for the new CEO of PH Media and in the interim the responsibilities will be handled by Nayyar.