Tuesday, 22 May 2012 13:34 Mizzima News
(Mizzima) - A worldwide ad agency, WPP, has become the first western advertising group to invest in Burma since sanctions were eased, in hopes of attracting the first wave of foreign investors in Burma.
New York-based Ogilvy & Mather, part of the global WPP group, said on Monday it had agreed to buy a stake in Today Advertising, the nation’s most prominent ad agency, according to an article by Reuters news group.
Ogilvy & Mather was the first international ad agency to set up in Vietnam in 1994, and it is one of WPP's fastest-growing markets.
“It's not often that a market of this size opens up, with this history and infrastructure and capability, so it's very, very exciting,” WPP Chief Executive Martin Sorrell told Reuters.
Burma’s average income is about US$ 4 a day, in a country of 60 million people who are largely based in rural areas.
The advertising market was worth $33 million in 2011, according to leading media buyer ZenithOptimedia, compared to $600 million in Vietnam.
With 60 employees, Today Advertising is Myanmar's top ad agency, according to Ogilvy & Mather, which has a long-standing partnership with the company.
Television and outdoor billboards now dominate the advertising market in Burma. Internet advertising is almost non-existent with only about 100,000 people or 0.2 percent of the population, online, the article said.
(Mizzima) - A worldwide ad agency, WPP, has become the first western advertising group to invest in Burma since sanctions were eased, in hopes of attracting the first wave of foreign investors in Burma.
New York-based Ogilvy & Mather, part of the global WPP group, said on Monday it had agreed to buy a stake in Today Advertising, the nation’s most prominent ad agency, according to an article by Reuters news group.
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| Billboards and television dominate the ad market in Burma. Photo: Mizzima |
Ogilvy & Mather was the first international ad agency to set up in Vietnam in 1994, and it is one of WPP's fastest-growing markets.
“It's not often that a market of this size opens up, with this history and infrastructure and capability, so it's very, very exciting,” WPP Chief Executive Martin Sorrell told Reuters.
Burma’s average income is about US$ 4 a day, in a country of 60 million people who are largely based in rural areas.
The advertising market was worth $33 million in 2011, according to leading media buyer ZenithOptimedia, compared to $600 million in Vietnam.
With 60 employees, Today Advertising is Myanmar's top ad agency, according to Ogilvy & Mather, which has a long-standing partnership with the company.
Television and outdoor billboards now dominate the advertising market in Burma. Internet advertising is almost non-existent with only about 100,000 people or 0.2 percent of the population, online, the article said.
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