Ad world remains positive on eighth day of demonetisation despite inconvenience

MUMBAI: India entered the eighth day of limited demonetisation in the backdrop of rejection of a petition by the Supreme Court, and still a majority of the nation is without access to cash.

Unending queues are thronging the banks, with most of the ATMs either dysfunctional or running out of cash at the speed of light. Local shops are struggling to function with the newly-introduced Rs 2000 note amid this cash flow issue.

The unorganised sector which mostly operates in cash has suffered the most.

To ease the situation, the government has allowed use of high-value notes for some purposes -- at milk booths, petrol stations and railway stations,?up to 24 November. takes a look at how the advertising world is coping with the cash crunch, whether any advertising campaign has felt the impact or any ad film shoots have been stalled.

?We are not facing any difficulty as most of our work is with retainers. Moreover, our transaction is in white, nothing in black and grey, and mostly kept transparent by using cheques for transactions.
The production houses may face problems during shoots but, so far, we have managed the show, and haven?t heard of an issue,? said Leo Burnett south Asia CEO Saurabh Verma.

?Of course we will all get impacted by it eventually if the economy slows down in the next few months but we need to wait and watch," Verma added.

Similarly, The Glitch co-founder Rohit Raj agrees that there is no immediate impact on the industry. ?For campaigns, which are pre-scheduled, money comes in cycles. Therefore, there is always some buffer. During shoots too, we mostly operate through cheques, Raj explained. The Glitch has an in-house studio and production unit for its video content. Luckily, for them, there was only one shoot that fell during this period, and hence the agency didn't have to go through much hassle.

Not just the big and well known agencies, but small and medium-sized players in the market have also been cashless in their operations, as explained by corporate films and TV promos video director Avi Sandhu.

?We mostly operate electronically because that is how agencies pay us.

Even the spot boy is paid through NEFT transfer. It is to ensure that we have a transaction trail. Sometimes, for props etc., we might need cash. In that case we either go with the available denomination or the company calls in the bank requesting to liquidate the required cash for daily use,? he shared adding that most banks are separately looking at corporate accounts.

About the models who work on fee per shoot basis, Sandhu admitted that the industry is banking on the usual cycle of paying them after 40 to 45 days when the agencies distribute the payments that comes from the client, by when the situation will normalise.

When it comes to advertising, the most unorganised sector is perhaps out of home. Asked if there is any challenge in operating, Milestone Brandcom?s Nabendu Bhattacharya explained that there is no issue from the agency?s end. ?Our business is mostly cashless. We wire the money when we buy the spaces. But, agencies and vendors working on the selling side might have a different story.?

The story remained mostly the same, except for some unique variations.

?We mostly operate cashless as the clients prefer so. The only issue is -- we are unable to deposit the cash which is already with us because of the serpentine queues. Because it is all billed money, I am not worried about it, but banking is a hassle these few days,? shared Pioneer Publicity director Sunil Vasudeva.

Another out-of-home vendor, who wasn?t happy with how things were hampering the business, hesitated to share his plight in public in fear of repercussions from the government.

Latest Reads
‘Beautiful by Nature’: JOYquestions Stereotypes in a Brand New Campaign with Mouni Roy

People are conditioned into following certain pre-defined beauty standards of how a woman should look, behave and carry herself around. Physical appearance has always been the yardstick to measure a woman’s beauty

MAM Media and Advertising Ad Campaigns
India gets their first-ever international standard Motion Capture Lab

An institution in the entertainment & storytelling sector, Famous Studios once again proves its leadership position.

MAM Marketing MAM
HDFC Life chooses Music to connect with young millennials

HDFC Life Insurance Company, one of India’s largest private life insurers, launched the second edition of its successful campaign #YoungandResponsible on 15 November 2018.

MAM Marketing MAM
Droom ramps up its marketing momentum with the launch of an integrated radio/cinema campaign in major cities across India!

Droom, India’s largest and pioneering online automobile transactional platform, has today announced the rollout of an integrated marketing campaign.

MAM Media and Advertising Ad Campaigns
Realme introduces its new visual identity system and logo

Realme, the smartphone brand that specializes in providing high quality products for youth, launched its fully upgraded Brand Visual Identity system and Logo to provide a new visual experience and emotional connection with young consumers.

MAM Marketing MAM
Business Entrepreneurialism sees emergence of Social Entrepreneurialism: Ipsos Survey

According to a new survey by Ipsos, a global market research agency, the traditional definition of entrepreneurialism is now undergoing a metamorphosis of sorts and is moving from pure play business entrepreneurialism and is adding a key element of social entrepreneurialism to make a definitive...

MAM Marketing MAM

Ooyala today announced that it has joined the SRT Alliance, a collaboration to continuously develop the SRT (Secure Reliable Transport) protocol and technology stack for low-latency video streaming across any network.

MAM Marketing MAM
Producers Guild of India amends by-laws Makes it mandatory for members to implement 'The Sexual Harassment of Women at Workplace' (Prevention, Prohibition and Redressal) Act 2013 (PoSH)

Mumbai: Producers Guild of India at its Extraordinary General Meeting (EGM) on 14th November, 2018 in Mumbai unanimously passed a resolution to amend its by-laws thereby making  it  mandatory  for  all those  members  who  fall  under  the  purview  of  the  The  Sexual Harassment of Women at...

MAM Marketing MAM
Isobar launches Sri Lanka Operations

Isobar, the digital agency from Dentsu Aegis Network, has expanded its operations to Sri Lanka.

MAM Media and Advertising Digital Agencies

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories