Singapore – IPG Mediabrands is a media and marketing solutions company. Interpublic Group has launched a partnership with The Insight Hive (Pvt) Ltd. for the establishment of two new organisations, UM Sri Lanka and Initiative Sri Lanka.
IPG Mediabrands and Insight Hive for UM Sri Lanka, and Initiative Sri Lanka have established a partnership agreement that will be implemented immediately.
The announcement comes following earlier this year’s revelation of new agency debuts in New Zealand and Pakistan. It expands IPG Mediabrands’ footprint in the Asia-Pacific region to 16 countries.
Speaking about the expansion, Leigh Terry, CEO of IPG Mediabrands, said, “The network’s expansion into three new growth markets this year, is not only testament to the strength and vitality of our media agencies and the demand for their services, but it also signals the health and recovery of our industry within the Asia Pacific region. Proof in point, our recent MAGNA global advertising forecast confirms that the Asia Pacific advertising economy grew by +8.2% this year, significantly higher than the global average of +5.5%.”
Meanwhile, speaking about the partnership, Peter Solomon, managing director of IPG Mediabrands Sri Lanka, commented, “This alliance with IPG Mediabrands is a major landmark for us at Insight Hive. We stand at the forefront of representing the UM and Initiative media agencies in Sri Lanka, which will contribute to the evolution of an ecosystem that is founded in our unique experience and market intelligence, coupled with the international scale and standing of the IPG Mediabrands network.”
He added, “We hope to establish new standards in consumer intelligence and effective campaign development targeted at a fast-paced marketplace.”
