Starcom MediaVest is scaling up its out-of-home (OOH) operations. The brand communications and consumer contact agency will launch two specialist OOH agencies while further expanding Navia’s presence in the overseas market.
Navia CEO Sanjay Shah says”We are launching two more OOH agencies by March 2009 which will specialise in particular categories. We also have aggressive plans for Navia,”
Navia, the existing OOH specialist arm of Starcom MediaVest, will set foot in Indonesia early next year. The next hop will be Korea. Navia already has a presence in Malaysia and Singapore.
Navia, which clocked Rs 1.6 billion last fiscal, is targeting a revenue of Rs 2.5 billion by 2009 year-end. “Our aim is to grow Navia into a Rs 2.5 billion company by the end of 2009. We will be launching Navia in Indonesia very soon. We are also planning to launch in Korea, but it will take some time,” says Shah.
In India, Navia has aggressive growth plans to expand its footprint from 25 SEC-A towns to smaller locations. It is setting up stations across SEC-B towns to tap the OOH boom in the country.
“OOH is right now a Rs 14 billion industry and is growing at a CAGR of 15 per cent. Also, almost 30 per cent of the revenue that the industry generates today comes from smaller cities. Hence, there is a huge opportunity waiting to be tapped in these smaller cities. We have already established ourselves in some such towns that include Siliguri, Durgapur, Jharkhand, Patna and Ranchi. Our effort will be to widen this reach,” says Shah.