More than 80% of South Africa's media pie is shared between the top five global media agency groups. This leaves very little room for local, independent players to enter the market and compete because of the large capital and credit requirements needed to book media on a large scale, says the duo.
This advantage is what global agencies have had for many years, coupled with the financial backing from their parent companies from around the globe, adds the duo.
Zibusiso Mkhwanazi, executive chairperson of M&N Brands, and Chris Botha, group managing director of Park Advertising, say that they are looking to change all that and pave the way for a more representative media landscape in South Africa.
"We believe that the market is ready for a local, 100% black-owned media agency. If over 80% of an R44-billion market is held by global network agencies, we need to change that, and pave the way for a more representative industry," says Botha.
"We are entering into this revolutionary deal in order to create progress that is good for both clients, the industry and the country," adds Botha.
"This is good for clients because media normally makes up the lion's share of advertising budgets and blue-chip clients now have another option of buying through a fully black-owned media agency on a big scale to further achieve their BBBEE goals," says Mkhwanazi.
"With a current rate card billing of over R5-billion from Park Advertising, AMA and its clients can look forward to benefiting from this purchasing power locally and the global buying discounts on platforms like Facebook and Google. Our commitment to the growth of the South African media landscape is unwavering and this is just the start. We are here to stay," concludes Mkhwanazi.
For more information, visit
www.parkadvertising.co.za.