How critical is the southern market in terms of advertising as regards the overall picture?
If you look at the size of the market, then the slice of the pie as far as advertising is concerned is shrinking in the south. This is largely due to markets like Delhi, which is growing very rapidly and Mumbai more or less maintaining a steady growth, which is very large anyway. For instance, if you look at Chennai, we account for about six per cent of the overall advertising spends in the country. That’s it. So, it is a fairly small advertising market. And here I am referring to advertising business that emanates from Chennai and not clients who spend a lot of money in Chennai but via their Mumbai agency. Bangalore would account for approximately 15 per cent and Hyderabad would be about two per cent. So in essence it would account for about less that 25 per cent of the overall advertising market. And this is shrinking.
