Ad business worth Rs 1,500 cr changed hands this year

Advertisers' demand for more efficiency, tighter budgets prompt frantic reviews, pitches

Need for fresh perspective and tighter budgets have forced advertisers to seek newer agencies in the first half of this year like never before. From January to May, advertising businesses worth Rs 1,500-2,000 crore changed hands.

In the first half of 2016, business worth Rs 1,000 crore had changed hands, according to industry estimates. This means, this year, the jumps in changes has been 50 per cent to 100 per cent.

One of the reasons for this, suggest sources, is demonetisation — banning of the old Rs 500 and Rs 1,000 notes by the Centre in November last year. 

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