 Now with the media and entertainment industry that's all set to double its revenues to almost 2 lakh rupees according to this recent report by KPMG, India is indeed a key market for media agencies as well as all the big conglomerates that own them. According to the 2014 Rekhma Quantitative Ranking, the top three Indian media agencies at least in terms of billing are Mindshare, Madison and Maxis. But at least one of these might lose that spot next year as Densu Ages network. Now they're taking their head on, they've gone on record to say that they'll be at least the second largest player in India by the year 2017. This mega merger that has taken place between the Japanese and the British media group has created an entity that is quickly gaining ground in India. They've bagged a host of marquee accounts like Maruti Suzuki and Monaliz. This has happened this year itself. But now what's the strategy to overtake players like Madison and the whole clutch of agencies under Group M? How is it approaching areas like digital where it has been one of the last to enter? We find out all this and more. Loss of large clients, challenges in holding onto leadership teams, management decisions that led to a divorce with partner percept holdings and a delay in investing in domains like digital and direct. This was the sad state of affairs that ages media in India in 2011 as reported by Impact. Fast forward to 2012, on the global stage, Japan's Densu stunned the advertising world with a £3.2 billion cash deal to buy out UK media group Aegis, parent to global media networks like Carrot and Vizio. The deal shook up the established global advertising hierarchy by creating the fifth largest player with over £3.8 billion in revenues and over £600 million in profits, providing a new rival to giants like WPP, Publicity Group and US giants like Omnicom and IPG. Well, we have very complementary geographies. Aegis Group operates in 80 markets around the world, those relatively small in Japan, whereas Densu has something like 84% of their revenue from Japan has operations in 29 markets around the world. So the combination is very strong from a geographic point of view. We also have a very complementary client list as well, but I think quite importantly for our people and for our clients, we have a lot of shared vision, a lot of shared strategies and I think that bodes well for a very good combination going forward. I think there's a very good opportunity to really build this business together. I think it provides continuity, stability and a platform for growth for our businesses. And myself and my management colleagues are actually really looking forward to this. We've worked with these people now for a couple of months and we're very impressed with them. We think it's a good combination. We think culturally it will work well together. So I'm very encouraged and very enthused about the business going forward. Today in India, Densu Aegis Network is poised to become the second largest agency group by the end of 2017, overturning for the first time some of the historically dominant players in this space. I did say that we would be the second largest group by end 2017. To me it now looks, we'll probably get there earlier, but for now I'd like to maintain that as a deadline because it eases a bit of pressure on me. I think we will have an approach which will be multi-pronged. We will look at acquisitions wherever appropriate and we only make acquisitions for strategic reasons. We will be aggressively going in for organic growth and basically we are following what our clients want. So we are figuring out where our clients' needs are, where do they need help from us and we are customizing our service to be able to fulfill that. And I think that strategy we will be following. Once we get there, whether we get there in 2017 or earlier, once we get there, we would have reversed more than 80 years of ranking in India because the number one and two players have been the same for the last 80 years. And in a relatively short period of five to seven years, I would have reversed 80 years of that ranking. So it will be a historic landmark for us. When we started off, we were number 19 in the market. In the last four or five years, we've proven ourselves. We are now a close number, we are probably number three, but a close number two. So all I can say to them is good luck. The more you keep thinking of it that way, the easier it makes it for us. This enthusiasm is hardly surprising given the Maki Clients Agency has backed in 2015 alone. These include Maruti Suzuki as well as Monolays at a global level. Airtel, Honda Motorcycle, Toyota, Canon, Nikon, Unicharm, TBS, the Aditya Birla Group, General Motors, Philips and Panasonic are some of the others that make up Densu Age's Network's impressive client portfolio. I think size does matter because you need a little bit of sort of a table stakes entry, right? So you have to be of a certain volume. Now, in the last year or so, we've won almost 2,000 crores of media business. Our group is now transacting 3,500 crores. So you need certain size to get on to table stakes on that. Beyond the point after that, there's that diminishing returns kind of a thing. But more important than size, so once you've got the table stakes, you've got all the advantages of scale, you've got the rates from media, or you've got your creative agency clients fully serviced because you have all of that. Once you've done all of that, after that, it's not the size that will matter. It's what are you able to bring? How good are you in your product? What are the relationships that you have with your clients versus services? Are you offering world-class services? Because India today is no longer isolated or insulated. So I think that then starts mattering much more. With digital quickly becoming the buzzword for all media agencies, Densu Aegis Network was amongst the last to enter this space. But this also means it has an inherent last mover advantage in the digital space. Densu is a 110-120-year-old company. Aegis Media itself is a few decades old. But the new Densu Aegis Network is born in the new era, right? So for example, if you look at it today, out of my 2,000 people, almost 750 people are in digital alone. Now that is disproportionate. I get, Densu Aegis Network in India gets about 35% of its revenues from digital. The country average is maybe eight or nine percent, right? But we know that we're over-invested in that because we know that's the future. We've got four digital companies. We've got iProspect, iSober, Densu Web, Chutney and WhatConsult, right? Which is powered by iSober. So I think that gives us an advantage because we're able to do it. The others who've got 100 years of legacy behind them have already got siloed structures and have people who only know how to produce 30-second TVCs are going to struggle. And I think we have that advantage, so why not take full advantage of it?