 So, ladies and gentlemen, it is now time for the unveiling of the much-awaited Dentsui for a digital advertising report. On that front, if I may have the honor of calling upon none other than the CEO of Dentsui APEC, Rob Gilby, to kindly join us. Can we have a big, big round of applause for Rob? Joining Rob, if I may request the Chairman and Editor-in-Chief as well and Founder, Exchange for Media, Dr. Anurag Bhattra, along with the Co-Founder, Exchange for Media, Mr. Nava Lahoja, to kindly join us. As our three dignitaries are on stage, it's time for me to invite the Dentsui leadership as well. Starting with, if I could have the honor of having Ms. Divya Karani, Divya, Vinod Thadani, Vinod, thank you so much. If I could have Asha Sovarna, Sapna Arora. Thank you all, ladies and gentlemen. A lot of applause for the entire Dentsui leadership. Anita Kothwani, Rupam Garg, Simi Sabhane, Nilesh Kohil, Bhaskar Jaiswal, Sujata Duvedi, Sagar Sethi, Hiro Dengra, Imtiaz Willatra, and if I could also have Anand Thakur, the head of growth and agency, Krithio to kindly join us, Anand. Now that we have the entire leadership, we've got Anand, we've got Naval, Anurag and of course, the CEO of Dentsui A-Pak, Rob, on the stage along with the leadership. Ladies and gentlemen, the unveiling of the much-awaited Dentsui 4M digital advertising report. I think Mumbai can be much more louder with their applause. And I believe some are still, yes, let's just try and get the picture perfect moment. That's a tall order to be on the stage. And ladies and gentlemen, this is a perfect moment for Dentsui 4M report, hashtag to be put on social media. Let's click their pictures. Let's get it uploaded on your social media. Thank you once again. Thank you. God bless. Congratulations. Good afternoon, everyone, and welcome once again. A huge call out. Thank you. Thank you for all of us here gathered in this room today, as well as the larger media and marketing fraternity. Our Dentsui 4M digital advertising report is much sought after, and in very many ways has become the bellwether for the digital ad economy in this market. I find marketeers reaching out to me throughout the course of the year asking for a copy, and I must share just two weeks ago there was a reach out again, and despite me saying, look, two weeks later we're going to launch our seventh report, there was, why don't you send me the last year's report? So a huge call out because what it does is it acts as a fuel to our passion in bringing out this report year after year after year. There was a pause during COVID times, but we've continued with the tradition of doing so. So thank you, everyone. The world that we live in has transformed and dramatically so in these past three years. It's changed forever who we are as people. The way we work, the way we play, our passion, our priorities, our values. And therefore, if we pause and look behind before we look forward, the single most pivotal change has been media. We today look to media to get our news, our information. We get entertained in media. We shop, we socialize, we even romance in media. In short, we live our lives in media. And the single most pivotal change within media is a digital disruption. Not just here in India, but across the world. Therefore to say that this transformation has happened, perhaps in very many ways would be an understatement. Because as we well know, all of us practitioners, marketers and media, are grappling to keep pace. And then again, perhaps it would be an overstatement, because the change is not yet over. It's happening as we stand here as I speak. Anurag mentioned a couple of refrains. It is two weeks old, he said. And then he called out to a conversation we'd had just before he came on stage. That is how that is the pace at which transformation is happening. And in that pace and transformation, web 3.0 is going to be a game changer. It's very, very simply put, going to bring people, places and things even more closer. And therein, therefore, lies the opportunity for creativity and innovation. At the intersection of all these places, people and things coming closer together. Increasing and in fact, bettering consumer experience as well as expectations. And that then becomes power for the cause. Three things I will call out that will again and again come back as the main theme in all that you see in 2023. We spoke about immersive, immersive and it's not new. It's in everything that we do, but that much more closer. Interactive, again, who in this room has not heard of chat GPT? And while we are all wondering all that it can do, it is learning at the speed of learning. When asked actually, and some of you all may know, when asked the founders of chat GPT, when they were asked, how will you monetize it? There was a pregnant pause and then they said, you know what? We'll pose this question to them and they'll figure a way. So there it is. Immersion, interaction at its best. And the last one is inclusivity. Inclusivity across geographies. And I'm telling you the world has never, ever been flatter than what it is today. Inclusivity across demographics and which other market will testify to this other than India? With all our idiosyncrasies compound. So the coming together of this inclusivity, this immersion, this interaction is where this magic will happen. And there in that digital India is on a trajectory like never before. We as a nation have always been entrepreneurial. There is no doubt about it. Our demographic dividend, we've all heard that story for the longest of time. Our technocrats and political will, however, has gone through a bit of ebb and flow. This time around, this government of ours has got it just right and then some more. I don't know how many of you all have had a chance to read our report at the Davos meeting. Loud and clearly it's being called out as a singular agenda to take India from what it is today to tomorrow. And therefore in that, I am very, very optimistic that what you see here perhaps may be the first of its kind and then it will percolate to the rest of the market. We already do it and we proudly talk about it. But you will see more and more and more of it at a faster scale. To Anurag's point, the money will then, but of course, follow. Right? I'm now going to hand over to Vinod to take us through the highlights. Come Vinod. Hi, good afternoon. Am I audible? So thank you, Divya, for introducing the three themes, immersive, interactive and inclusive. With that, we'll get into some statistics on the growth story for India. So 2023 GDP to grow at 5.8%. Third highest number of unicorns with a combined value of $340 billion. One in two households will become high and upper middle class by 2030. 77% of India's population will be millennials and Gen Z by 2030. One billion plus connected users. India's goal is to become a $1 trillion economy by 2025. And this digital economy has been built on three pillars, infrastructure, business transformation and digital commerce. Now what is driving this force? UPI, Aadhar, Open Network for Digital Commerce, 5G technologies is being the forces for this digital growth. UPI is an instant real time payment system. Only in December 2022, there were around 7.8 billion transactions worth $157 billion. Aadhar is the world's largest biometric ID system with over 1.3 billion records. In the next five years, ONDC will be able to generate an additional gross merchandising value of upwards of $45 billion for the e-commerce industry only. 5G, in one of the studies it reveals that 100 million plus users with 5G ready smartphones wish to upgrade to 5G subscription in 2023 itself. And lastly, India's 5G subscriptions to have around 350 million by 2026, accounting to 27% of all mobile subscribers. Post the economy, I think let's understand why we are here and today we'll answer some of the key questions. What is the market sizing for the Indian advertising industry? How much is it expected to grow? What is the share of digital advertising? Has digital advertising crossed television? How much does FMCG contribute? How much does e-commerce spend? Which category of advertisers spends on search? How to embrace and create value in the Web 3 economy? I think to answer and give you a summary of the entire report, I would now invite my friend who will now summarize this report for you. Abhik, over to you. Thank you Vinod, Divya and everyone here. Namaskar. The last time we met was at the fourth round of this report, somewhere at the beginning of 2020. And after all these years, we come together at the seventh round and more importantly to celebrate the generational leap that India and her people have taken with digital media. Generational leap in terms of the large-scale business transformation that has happened throughout at all scales in the past three years. Generational leap in terms of the opening up of the gateway to Industrial Revolution 4.0 with the launch of 5G services. Dark technology is becoming mainstream. As Vinod mentioned, UPI, not just remaining an Indian phenomenon but being accepted globally. E-Rupi being pilot tested for deployment as we speak. And more importantly, generational leap in terms of India rapidly moving towards her goal of $1 trillion digital economy by 2025. On a personal front, I frankly don't remember the last time I carried a wallet or my credit cards, debit cards, cash or my driver's license. Or I don't remember the last time I left my home to purchase groceries, vegetables, fruits or any household stuff. The time since we last met in 2020 and today, the journey has been quite a wild ride. Talking about yet another generational leap, the Indian advertising industry grew at 18.1% over the last year to close the year 2022 with a market size of 85,769 crore. In 2023, it will grow at 14.7%. To reach a market size of 98,363 crore. And it will grow at a compounded rate of 15.07%. To reach 1,13,575 crore by the end of 2024. Let's now dive in to look at what are the contributors to this incredible growth story. FMCG has the highest contribution of 30% to the Indian advertising market, followed by e-commerce contributing 18% and consumer durables contributing 7%. While FMCG has the highest contribution in terms of volume, I think the growth of this Indian advertising industry can be attributed to e-commerce. With the large scale and immense volume of digital transactions happening and the mass adoption of e-commerce applications, the spends by the e-commerce category has grown by 63% over the last year. The biggest share of advertising spends comes from television, contributing 40% followed by digital media contributing 35% and print contributing 21% to the Indian advertising industry. We all know historically television has enjoyed a lion's share of advertising spends and reach and digital has been following up. But this year in 2023, digital media will take the generational leap to finally overtake television and have a spend share of 40% compared to that of 37% by the end of this year. And come 2024, digital media will have a spend share of 45% leaving television far behind. When I look at it, digital media has helped us to break the boundaries of the physical world. It has also enabled us to dream and explore the infinite possibilities that the virtual world presents us. Digital media as an industry has been making generational leaps from strength to strength. And I think you might have observed by now that generational leap has been my favorite phrase so far. And I'm sure as we proceed through the evening, it will be yours too. Well, digital media grew at 39.5% over 2021 to reach a market share of 29,784 crore. This year it will have 39,315 crore and will grow at a compounded rate of 31% to reach, in fact, cross the 50,000 crore mark and have a market share of 51,110 crore by 2024. The largest contributors to the digital media industry have been FMCG, e-commerce, consumer durables, pharma and automotive. While more than half of the spends on digital media come from FMCG and e-commerce, the growth in terms of the spends, the percentage of spends on digital media have been led by the telecom and pharmaceutical sectors. In 2022, telecom spent 50% of their overall media budget on digital, a four times growth on over last year. In the same period of time, pharmaceutical boosted their media budget, budget on digital by three times. As I said, digital will grow at a rate of 31% compounded to have a market size, to cross the market size of 50,000 crore by 2024. And this immense growth will be driven by online video and social media. Currently, social media contributes 30% followed by 28% by online video. But in the next two years, online video will catch up and be at par with social media. And with the evolution of this new digital economy, now I don't think one needs to be a big film star to be famous or influential. Just an internet connection is sufficient. The evolution of this Web 3 economy will also change the customer expectations, which now revolve around customer convenience, evolved e-commerce and experiential media. The generational leap in digital payments technology will drive the customer convenience when they interact with businesses. We are already witnessing applications of UPI in the mass market when it comes to transactions around M governance, healthcare, financial services and in the future IoT payments. Customers now expect to purchase goods and services online in a seamless and a super convenient way. And this is being facilitated with the evolution of e-commerce towards L-commerce or local commerce. The development of D2C platforms and the availability of hyper-local services is also driving this evolution. And talking about content, Web 3 now offers us content which can be felt and experienced and not just seen or heard. Customers now expect immersive and spatial content through extended reality applications. And this they want while they are consuming not just their content but also while they are interacting with brands. Consumers now expect to access real-world assets and locations through their digital representations. Or as people commonly know it aftars or avatars. Consumers expect Web 3 technology to integrate seamlessly with their existing Web 2 experiences and to provide a bridge between the physical and the digital worlds. Obviously this presents businesses with new opportunities to drive innovation and create value for the customers in this new economy. Opportunities around convenience or customer convenience can be driven through artificial or ambient intelligence in creating applications which are hyper-personalized and have intuitive interfaces. AI or MI can also be tabbed to create applications around wireless homes and a wireless and IoT-driven future. Opportunities in the evolution of e-commerce can be tabbed using decentralized local commerce with a plethora of hyper-local and automated services. And I think this will bring inclusivity through technology which will benefit the society as a whole. The emergence of extended reality applications provides businesses with new opportunities to add value in the domains of immersive content, spatial experiences, gamified and personal entertainment. These will give rise to the new markets of the future and will bring an evolution of marketing and creativity. And I foresee in this year, the marketing will evolve to be more spatial, more immersive and more experiential. Well, I think 2023 is going to be the year of disruptions. Dark technologies have been making significant progress and will be deployed and implemented soon if not have been already. This year, we'll have artificial intelligence and robots bingling with our daily lives. People expecting extended reality applications to be the new normal. Quantum computing taking on complex calculations faster than ever before. And distributed leisure tech or blockchain will make sure we're all on the same page. In fact, a correction. I think AI has already seeped in in our lives much faster than we could have ever imagined. For example, just check this report that we just launched. If you don't have the physical copy, just check the digital copy of the report. And I can say, apart from the solid data and figures that we have been carrying for seven years now, the report this year, in terms of the design, I would call it a chef's kiss. And guess what? The artwork and the design for this report has been generated completely using generative AI tools. What you see right now is the first physical manifestation of generative artificial intelligence using mid-journey, Dali, ChatGipet, or as people know, ChatGPT. And this makes this Densu e4m digital advertising report 2023 the first of its kind in the world to have an artwork generated completely using artificial intelligence. And to look at it, we have just begun this generational leap. And we are way, way far from the apogee. But in the paraphrasing Neil Armstrong, I would say it's one small step for technology and one generational leap for mankind. So fast on your seat, we'll see you all.