CineMaya Media Group, Inc. has not only increased its footprints in India but has also bagged a share of $8 billion Entertainment and Media (E&M) industry through a Joint Venture with Delhi based Design Mechanics, a leading online creative services company .
The company’s decision to expand operations through a JV was spawned by Design Mechanics’ swift growth during the past year leaving the company in an enviable position of having more business than available resources. The growth of Design Mechanics can be attributed to a rapidly growing Indian economy, and an even faster growing Entertainment and Media sector, as evidenced in a recent PricewaterhouseCoopers research report spotlighting one of the hottest sectors in India.
According to the PwC research report, the size of the Indian Entertainment and Media (E&M) industry in 2005 was over INR 353 billion, or approximately $8 billion, and expected to increase at a compounded annual growth rate of 19%. More importantly, the Internet advertising industry is expected to increase over 300% from 2007 – 2010, or a compounded annual growth rate of 50%. Design Mechanics has already been slicing its piece of the pie by servicing well known clients such as the Discovery Channel, History Channel, National Geographic, GE, Reebok, Sony, and IndiaTimes, among so many others.
Design Mechanics is a very respected, successful company in this space, and a deal with CineMaya Media Group, North America’s leading media entertainment, and marketing company servicing the South Asian community, affords it great benefits. The first of which includes greater resources to satisfy its expansion, and new offices within CineMaya Media Group’s India headquarters located in the advertising and entertainment hub of Mumbai, India’s largest metropolitan city. Additionally, Design Mechanics will receive sales support from CMG’s New York, San Jose, and Toronto offices, which is expected to positively impact the company’s revenues as more North American business is routed to its new Indian division.
“This union is ideal as we plan to increase market share in the rising Internet and E&M sectors in India, and within the Indian Diaspora throughout the world, utilizing DM’s creativity and technological solutions to top brands,” said Nayan Padrai, President of CineMaya Media Group. “Our list of clients is not limited to only US or Indian companies, but includes many top-tier firms from around the world.”
Nitin Ahlawat, Chief Creative Officer of Design Mechanics said “We are thrilled to expand our association with CineMaya Media Group. We fit well into their portfolio of Media, Entertainment, and Marketing services. Together, we can offer clients a cross platform advantage of a full-service advertising agency in Elephant Advertising and a full-service online creative shop in Design Mechanics. This combination should result in one of the best creative and technology firms servicing the Internet and E&M sectors.”
The Joint Venture between CineMaya Media Group’s Indian subsidiary, CineMaya Media India, and Design Mechanics results in a new entity formally named Design Mechanics Private Limited.
CinéMaya Media Group is a leading provider of high quality international South Asian media, entertainment, and marketing services. Established in 2000 as a vertically-integrated company, CinéMaya Media Group has since grown into a mini-conglomerate in the ethnic media landscape through its robust businesses within the following areas: Publication, Broadcast Television, Radio, Film & Television Production, Events, and Advertising.