After liberalisation, the Indian agencies were taken over by the foreign investors or large networks in order to scale up. This way the legacy brand acquired receded into the background. Previously, the business thrived on the cult personality of the founder. They could not withstood the pressures of globalisation. As leadership changed, the agency brand also consequently changed. These days agencies tell brand stories by using a combination of AI, technology and analytics. Agencies thus change faster. Those which adapt to change, survive. Others simply fade away. International advertisers avail of the services of consultancies and big tech firms. Some outsource work to specialised digital firms. Some hire talent in-house. This trend could be seen in India too.

As it is, traditional agencies are being bypassed. It has led to an existential crisis. The growth of digital advertising in the last decade gives an idea of the evolution ad industry is going through.

In future, the focus would be on digital, social media and mobile marketing. There is going to be use of ad tech to convey the advertising message.

In 2021, the domestic ad market could grow by 23.2 per cent, and could touch Rs.80,126 crore, lower than Rs.82,905 crore in 2019 but ahead of 2020’s Rs.65,053 crore.

Digital spend would reach 35 percent in 2021, behind 45 per cent of TV, but ahead of print’s 16 per cent.