It was WPP that did it first and now Publicis Groupe has done it. Last week, the French media and marketing group launched India Media Exchange (IMX), under which all the media buying business handled by its two agencies, Starcom MediaVest and ZenithOptimedia, has been consolidated. Like the central trading group does all the media buying for WPP agencies, including Mindshare, Maxus and Mediaedge, now all future negotiations by Publicis’ media arms will happen under IMX. The new arrangement puts thrust on driving scale and a better command in negotiations involving pricing. ZenithOptimedia and Mediavest will continue to work as independent agencies; it is only on the negotiation tables that the two agencies will come as one. Media fraternity sees it is as a forward-looking trend and maintains that it will also help agencies in servicing client needs better by providing them customized solutions.
Klues said IMX will customize the services and solutions that are context specific, leverage to create scale and convert it to create a unique, viable advantage for our clients’ businesses. This context-driven scale will bring about a paradigm shift in the industry and we found someone in Shyam Shanker to bring about this change, with his credentials and experience in procurement, with the curiosity and creativity to help us materialize this vision.”