IPG Mediabrands today announced an affiliate agreement with The Insight Hive (Pvt) Ltd for the launch of two new agencies, UM Sri Lanka and Initiative Sri Lanka.
The announcement comes following recent news of new agency launches in New Zealand and Pakistan earlier this year; and expands the IPG Mediabrands network footprint across 16 countries in the Asia-Pacific region.
“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,” said Leigh Terry, CEO IPG Mediabrands.
“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%.”
Peter Solomon, Managing Director IPG Mediabrands Sri Lanka added, “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.” Solomon continues, “We hope to establish new standards in consumer intelligence and effective campaign development targeted at a fast-paced marketplace.”
The IPG Mediabrands affiliate relationship with Insight Hive for UM Sri Lanka and Initiative Sri Lanka is effective immediately.