Havas Invests in Uncommon Studios in A Bold Pledge to Creativity
Havas Media, a Paris-based agency network, acquired a majority stake of 51% in UK’s Uncommon Creative Studio. Havas is a relatively small agency compared to the big six agencies with respect to revenue and workforce. Hence, this acquisition is a breakthrough for them. Founded in 2017, Uncommon Creative Studio is the UK’s most award-winning and rapidly growing independent creative agency. They have already garnered the attention of some of the world’s largest and most prominent companies.
Massive news. So proud to welcome one of the best independent creative agency in the world @uncommon_LDN to the Havas family!@donna_murphy @nilsleonard @LucyJameson_ @nattergraeme https://t.co/1NnwElX90R
— Yannick Bolloré (@YannickBollore) July 12, 2023
As part of its commitment to foster creativity, Havas signed this deal to invest in significant brands. The deal also reflects their business methodology and values future potential at £80-120 million considering Uncommon Studio’s growth projections. Uncommon will preserve its brand, vision, and freedom in decision-making across its clients, partners, internal teams, and productive turnout. Management will retain a 49% material stake in the business, maintaining entrepreneurial zest. As a result, it will allow them to expand the brand globally, and share best practices across Havas and its parent company, Vivendi.
Yannick Bolloré, Chairman and CEO, Havas stated,
Uncommon will bring new energy, creativity, and audiences into Havas’ already leading-edge creative network, igniting, inspiring, and supporting every aspect of creativity.
He also added,
Uncommon have created a new space and energy in the industry. They are a once-in-a-decade company and having them join the Havas family is an exciting prospect.
Uncommon previously rejected deals proposed by other agencies. Nils Leonard, one of the three founders of Uncommon said,
This deal is different: it relies on freedom of choice, the ability to break down barriers, and the removal of dependency. We can create the industry we wish we worked in.
International Exposure for Uncommon Creative Studio
The London-based creative agency boasts a high clientele in the UK including ITV and British Airways. The agency has recently received the prestigious Cannes Lions Grand Prix for “A British Original Billboard campaign” designed for British Airways. They have twice been named UK’s Creative Agency of the Year and International Agency of the Year by Ad Age.
Additionally, Uncommon hosts an extensive list of clientele in the U.S. This was attainable because of their diversified and global mentality, reputation for creativity, and distinctive studio style. As a result, the Uncommon-Havas deal will boost the former’s international expansion plans.
Uncommon Creative Studios will also enjoy collaborating with Havas’ strong network and top-notch entertainment brands. They will also be in a position to work with leading companies like Universal Music Group, Gameloft, and Canal+ with this partnership
The Advertising Industry Scenario
Most agencies are scrambling to propose contracts with data and technology-focused companies. The ad industry is determined to leverage artificial intelligence to reduce expenses and increase momentum. Forrester reports that by 2030, ad agencies will automate 7.5% of their jobs.
Amidst all this, Havas has placed importance on the human creativity aspect of the industry. As such, this acquisition comes in as a ray of hope for creative agencies. Uncommon Creative Studios has 169 employees working under them. The company also does not plan to lay off anyone in the near future or because of the deal. Instead, they plan to hire qualified staff for their U.S. office. Uncommon is estimated to be worth £156 million by 2030 with this deal. As a result, this deal would make Uncommon one of the most successful creative agency start-ups in the UK.
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Mastering Digital Marketing: Insights from Kosal Malladi, VP at Madison Loop
Kosal Malladi, the accomplished Vice President of Madison Loop, is renowned for his expertise in digital marketing and media planning. With a rich background in the industry, he has made remarkable contributions, working with diverse clients in sectors like Auto, BFSI, Entertainment, Social, and FMCG. His extensive experience spans both agency and client sides, providing unique insights into data-driven marketing, influencer collaboration, social media management, and the exciting future of the digital marketing landscape.
In this exclusive interview, we explore his vision, leadership, and the exciting journey that led him to the forefront of digital marketing innovation.
1. Can you provide an overview of your experience and background in the field of digital marketing and media planning?
My interest in digital marketing started during my MBA. Google held a competition where they provided INR 1000 vouchers to each team and tasked them with setting up Google AdWords campaigns. This experience sparked my interest in digital marketing, and I further developed my skills during an internship at ESPNStar, where I implemented what I had learned.
I began my career in Digital Media Planning with Media2Win, where I gained valuable experience and eventually took on leadership roles in managing digital mandates for clients such as Mondelez and Asian Paints, among many others. This field is constantly evolving, and I find it exciting to continually learn and adapt to new trends and strategies
2. In your opinion, how has the intersection of data and technology transformed the landscape of digital marketing and media planning? What opportunities and challenges does this convergence present?
The biggest challenge for digital marketing is data, whether it’s too much or too little. Initially, the focus shifted towards tracking leads/sales, neglecting brand building. Short-term gains became more tempting than long-term benefits. However, with increased spending, the demand for accountability has grown. Technology allows us to analyze data and derive actionable solutions from it. Nonetheless, the absence of a universally accepted authority like Broadcast Audience Research Council (BARC) poses a challenge for digital marketing. Until then, disputes will persist. The ultimate solution lies in digital marketing delivering positive business outcomes, which we are witnessing today.
3. What initially attracted you to lead the digital creative unit ‘Madison Loop’?
Media is only a part of digital marketing; creative aspects are equally important in driving positive business metrics. I have noticed a tendency for media and creative teams to blame each other when campaigns fail. Creative individuals often lack a grasp of numbers, while media professionals may struggle with creativity. Madison Loop was founded to bridge this gap between media and creative, symbolized by its name. At Madison Loop, we strive to complete the business loop and achieve results.
4. How do you approach social media management to effectively engage audiences and drive brand awareness?
Social media thrives on authenticity, but that doesn’t mean you can’t promote your brand. It’s important to be transparent about your intentions when selling. The key is to create authentic content and tap into the latest trends and fads. If you have to choose between posting high-quality content infrequently or good content regularly, opt for the latter. Consistent posting increases the chances of gaining traction. However, it’s important to note that there’s no guarantee of virality. Focus on regularly sharing good content, and something is likely to gain momentum—whether it’s tomorrow, a week later, or even a month later.
5. Would you like to share a successful social media campaign you managed on a specific platform like Instagram, LinkedIn, or Twitter, and explain how you tailored the content and engagement to match the platform’s unique characteristics?
For content to gain traction on social media, a hook is essential. Social trends often have a hook step, sound, or movement that captures attention. Dance steps, for instance, can go viral due to a catchy hook step. We have successfully utilized this principle numerous times. A recent example is Vicco’s campaign featuring Alia Bhatt, where she performed a unique action of showing her teeth to the dentist while making the sound “eeeeee.” We capitalized on this hook by collaborating with influencers who created their own versions of the hook. This strategy gained momentum, with millions of others joining in with their own “eeeeeeee.”
6.How do you effectively identify and collaborate with influencers, considering factors such as authenticity, engagement levels, and suitability for your client’s target audience in influencer marketing?
Today, the beauty of influencer marketing lies in the fact that anyone can become an influencer. This opens opportunities for brands to collaborate with everyday individuals and share their brand stories on a larger scale. However, precautions need to be taken.
At Madison Loop, we have implemented tools that help us identify influencers based on factors such as their location, topics of interest, demographics, and follower base. Additionally, we have an authenticity scoring system that considers factors like follower growth/fall, follower location, and more. These measures enable us to ensure the credibility of the influencers we work with.
7.Can you share your perspective on the future of digital marketing and media planning? What emerging technologies or trends do you believe will have a significant impact on the industry in the coming years?
In the past, digital planning was done blindly, but we have evolved to utilize available or claimed data for our plans. Over the years, data analysis and automation have played a crucial role in optimizing the process. The future will revolve around AI, driven by data analysis and automation. AI has already made significant strides and will continue to advance.
Some express fear about AI, believing it will replace their jobs. However, I believe it is not AI itself, but rather people who possess the knowledge of how to use AI effectively, who will take away those jobs. Human intervention will always be necessary in this field, although the nature of that intervention will evolve.
8. Can you share a valuable lesson or piece of advice that you have learned throughout your career in digital marketing and media planning?
Digital is a constantly evolving field. What is effective today may not be tomorrow. It is important to remain open to trying new strategies and approaches. Never assume that you know everything because there is always something new to learn.
9. How do you manage the pressure and demands that come with leading a digital creative unit, and how do you maintain a healthy work-life balance?
Finding a balance between work and personal life is essential. While work may seem never-ending, it’s crucial to establish a predefined end time for the day. Once you embrace this concept, achieving a balance becomes more natural. Personally, I find that prioritizing my personal time enhances my focus on work, allowing both aspects to thrive separately.
OMD India serves up media mandate win for McDonald’s North & East
OMD India has secured the media mandate for McDonald’s India – North & East (Connaught Plaza Restaurants) after a multi-agency pitch. As part of their role, OMD India will be responsible for developing and executing integrated media planning and buying strategies for the brand’s entire portfolio. The agency has been tasked with generating innovative and forward-thinking end-to-end media solutions for the brand, which will be serviced from their Gurgaon office.
McDonald’s has partnered with OMD India with the objective of prioritizing ROI and unleashing the next phase of growth for the brand. The partnership was secured because of OMD’s broad range of products and capabilities, particularly in the areas of Category Planning, Investment Planning, Audience Understanding, and Channel Planning.
OMD is renowned globally for driving significant business transformation for top brands. They won the McDonald’s account by demonstrating their innovative, data-driven expertise and comprehensive approach to marketing. They presented a strategy that exceeded the brand’s expectations, showcasing their ethos of Better Decisions, Faster.
Rajeev Ranjan, managing director, McDonald’s India – North and East said,
We are delighted to welcome OMD to McDonald’s India (North and East) family. OMD has a strong track record of adding value through right talent, tools and technology. We are looking forward to this partnership and the OMD advantage – delivering the best of consumer attention and seamless integration between awareness and performance through customer-centric differentiated media strategy, effective planning and optimal media investment decisions.
Anisha Iyer, CEO, OMD India said,
McDonald’s is a brand that is close to everyone’s heart and needs no introduction. Our partnership with them is a testament to OMD’s approach rooted in disruption, agility, empathy and the strength of our creativity – that tests boundaries, challenges convention and ignites change. We are focused on leveraging our unique resources to take the McDonald’s brand journey from strength to strength in North and East India and help unlock sustainable growth.
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Wavemaker India Launches D2C Solutions Unit
Group M’s most awarded media agency, Wavemaker India, has recently launched a new Direct-to-Consumer (D2C) practice to assist brands in implementing and navigating successful D2C strategies for growth. Notably, the media agency is already working with established brands such as MTR Foods, Nokia, L’Oréal, and many others.
In addition to launching a new Direct-to-Consumer (D2C) practice, Wavemaker India’s modular approach will enable brands to choose specific solutions they need for optimization. Moreover, the media agency will introduce a separate program that focuses on working with D2C start-ups to scale demand and operations, providing more opportunities for growth and success.
Wavemaker India’s mandate involves providing end-to-end solutions for brands to simplify their Direct-to-Consumer (D2C) channel strategy and deployment. The media agency will assist clients with their technology stack, design customer experiences, set up a growth platform, and manage the entire fulfillment infrastructure to optimize brand performance.
Ajay Gupte, CEO – South Asia, Wavemaker said,
“We are committed to creating solutions which offer unparalleled growth to our brands and partners. We have been investing and building this capability for a few years now. Launching the D2C practice marks the expansion of our digital and E-Commerce offerings and is a step toward providing focused solutions for brands who are to manage their value proposition and value chain.”
Vishal Jacob, Chief Transformation and Digital Officer, Wavemaker India said,
“We have seen a lot of brands wanting to build a direct connection with their consumers. Consumers too are looking for a closer relationship with brands making it important for D2C marketers to adapt and stay relevant in the game. Our D2C practice will help marketers plan better and tailor their offerings to better suit their customers.
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Publicis Groupe Wins Most Of Mondelez’s Global Media Business
Publicis Groupe won a lion’s share of Mondelez’s global media business – the makers of Cadbury and Oreo worth $1.6bn, as per media reports. The remaining business is with WPP and Vayner Media.
Publicis will lead the business in Latin America, Europe, the Middle East, and the North African Peninsula, South Africa, and China. It will also manage Mondelez’s traditional video investment, content, and multicultural marketing in the U.S. and Canada. Publicis Groupe has gained $450 million of media billings across Europe, including the UK and Italy (formerly handled by Carat) as well as France and Germany (formerly handled by Wavemaker). By acquiring major European markets, it is estimated that it has increased the global billings from 30% to 70%
The redistribution of the business took place following a review that concluded this week. VaynerMedia has continued to lead communications planning and digital buying in the US and Canada. WPP has been appointed to lead Mondelez business in Southeast Asia, India, Australia, New Zealand, and Japan.
Mondelez is one of the world’s largest advertisers, spending $1.6 billion on advertising in 2021. Recent years have seen Publicis Groupe slowly expand its share of Mondelez advertising services.
Campaign UK quoted a Mondelez spokesperson as saying,
“To lead the future of snacking, we are continuing to evolve our marketing approach to be more consumer-centric and digitally-enabled than ever before. Since our last media review in 2018, we have re-engineered our agency model across creative and production to deliver meaningful impact to the Mondelez business.
After a careful review, we are proud to announce key media agency partners have been selected to build on this foundation and further accelerate our growth.”
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Dubai To Host Global Metaverse Event, Unveils Its Ambitious Strategy
Dubai will host a global event where local and international leaders will gather to discuss the potential of the new digital space — the metaverse. As announced by Dubai’s Crown Prince, the inaugural Dubai Metaverse Assembly will take place on September 28 and 29 at the Museum of the Future and Emirates Towers.
In line with Dubai Metaverse Strategy, the Museum of the Future will host Dubai Metaverse Assembly in September 2022. The global event gathers over 300 experts and 40 specialized organizations to discuss the unlimited opportunities offered by the metaverse to serve humanity. pic.twitter.com/HWpypHHjqm
— Hamdan bin Mohammed (@HamdanMohammed) July 19, 2022
The Metaverse
Metaverses are digital spaces where users can interact and move virtually using their three-dimensional avatars. Web3 is promoted as a new generation of the World Wide Web, with blockchain, decentralization, openness, and greater utility for users. McKinsey & Company reports the potential of the global metaverse market is to generate $5 trillion in value by 2030.
Credit: National News
The Dubai Metaverse Strategy
The announcement comes after unveiling the ambitious “Dubai Metaverse Strategy,” as it looks to create 40,000 virtual jobs and add $4 billion to its economy over the next five years. The crown prince also tweeted to increase the number of blockchain and metaverse companies by five times in the same time span. The “Dubai Metaverse Strategy” aims to put Dubai on the map as one of the “top 10 cities globally in terms of virtual economy.”
We launched the Dubai Metaverse Strategy today, which aims to foster innovation in new technology. Dubai is home to over 1,000 companies operating in the metaverse and blockchain sector, which contributes $500 million to our national economy. pic.twitter.com/J1XRmd2ub3
— Hamdan bin Mohammed (@HamdanMohammed) July 18, 2022
State-run WAM news agency said,
“The strategy emphasizes fostering talent and investing in future capabilities by providing the necessary support in metaverse education aimed at developers, content creators, and users of digital platforms in the metaverse community.”
The city’s biggest companies like Emirates or Damac Group are already stepping into the metaverse. Within the next few months, Thumbay will launch a virtual hospital for virtual consultations. Emirati authorities, governments, and citizens are taking steps to integrate cryptocurrencies and metaverse-related technology into the economy, government, and society of the UAE.
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Charting the future of the metaverse
The Dubai Metaverse Assembly will introduce tangible outcomes, including reports, strategies, and action plans that outline the way forward for maximizing the impact on human life in both the real and virtual worlds. This will be done through innovative workshops and innovation in building the metaverse and its applications. It will also feature real metaverse experiences in key sectors — including tourism, logistics, retail, education, and health care — and an “unprecedented” experience of hosting official meetings in the digital space, said the statement.
The objective is to increase the readiness of the world for implementing and leveraging the metaverse. It will host three main tracks – Educate, Inspire, and Contribute.
– Educate: It will consist of more than 10 in-depth sessions on the metaverse.
– Inspire: This track will showcase use cases of the metaverse in tourism, logistics, retail, education, and healthcare sectors.
– Contribute: It will include workshops for metaverse foresight and use-case reviews.
In the Middle East, the UAE is leading the metaverse movement. There has also been a recent instance of the public being able to meet and interact with Ajman Police in the metaverse, where avatars of officers answer people’s questions.
Sheikh Hamdan tweeted that Dubai is set to “harness this promising digital world to be the fastest city to adopt its applications and embrace its potential”.
The assembly is a global platform for innovators forging the future of the metaverse. Participants will experience the extraordinarily advanced technology. We harness this promising digital world to be the fastest city to adopt its applications and embrace its potential. pic.twitter.com/SbdHrJ6SCW
— Hamdan bin Mohammed (@HamdanMohammed) July 19, 2022
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How Will Dubai’s Metaverse Sector Contribute To Its Economy By 2030?
The Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum announced earlier this month that Dubai’s metaverse sector will contribute $4 billion to the emirate’s economy by 2030.
Dubai Crown Prince Sheikh Hamdan bin Mohammed and Sheikh Maktoum bin Mohammed, the Deputy Ruler of Dubai have now directed the formation of a task force to track the latest developments in the digital economy, including technology and metaverse trends. As quoted by Arabian Marketer, Sheikh Hamdan said,
The directives of Sheikh Mohammed bin Rashid to form a higher committee to supervise Dubai’s future technological developments reflect the importance of facing the future with an open mind. The move will help us fully understand reality and explore unique ideas that will shape a brighter future for Dubai and the UAE, maximising future business opportunities.
.@HamdanMohammed, @MaktoumMohammed review vital technology trends in the metaverse and issued directives to form a task force to track the latest developments in the digital economy. #Dubai https://t.co/oY819Rs5MU pic.twitter.com/lVtk79uYLT
— Dubai Media Office (@DXBMediaOffice) May 19, 2022
But what exactly is Metaverse? Metaverse users interact with other users in computer-generated environments such as shops, learning environments, and meeting rooms, among other things, in three-dimensional, hyper-realistic virtual rooms. It combines elements of social media, augmented reality, virtual reality, video games, and other advanced technologies.
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The Dubai Metaverse Strategy
Dubai is capable of attracting and retaining the largest technology companies in the world. Hence, Dubai Metaverse Strategy’s higher committee plans to utilize metaverse technology. This will enhance resident surgeons’ performance by 230%.and raise the output of engineers by 30%. It also aims to raise the metaverse’s contribution to one per cent of the emirate’s GDP.
During the meeting with Sheikh Hamdan and Sheikh Maktoum, Omar bin Sultan Al Olama, who is the UAE Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications and chairman of the Dubai Chamber of Digital Economy, outlined how Dubai stands to benefit from the metaverse in a way that enables it to generate business opportunities beyond its physical borders.
Further, it is implementing activities and projects that will increase its web presence. The higher committee is actively examining opportunities and challenges. It is trying to qualify human capital so that it can excel in the virtual environment.
Moreover, it’s constantly working to establish a legal framework that addresses the needs of all sectors in the future. Forecasts indicate that business revenues from the metaverse will increase from $180 billion to $400 billion by 2025.
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Dubai’s metaverse regulatory authorities
Dubai’s Virtual Assets Regulatory Authority (VARA) established its Metaverse HQ earlier this month, making it the first regulator with a presence in the emerging digital space.
Dubai plans to create a prototype of a decentralized regulator model by expanding VARA’s resources beyond borders. Moreover, it intends to make it readily accessible to government and industry leaders, other authorities, and virtual asset providers to shape the future of the digital economy.
VARA’s MetaHQ will utilize The Sandbox platform, an Ethereum blockchain-based application that allows users to create, sell and purchase digital assets.
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What BIGO Ads Has To Offer Brands Through Likee In The Mena Region
BIGO Ads, an emerging international marketing platform powered by BIGO, is gaining traction in the Middle East and North Africa (MENA) region. BIGO Ads, a premium traffic aggregator of the short video creation app Likee, has already made a significant impact by providing professional video marketing solutions centered on Likee’s thriving content community.
Likee’s success in the MENA region has been exceptional over the last year. It encourages local creators to unleash their talent by producing diverse video content that is rich in creativity, allowing them to build communities that facilitate meaningful connections and engagements amongst one another.
While maintaining its positive momentum, Likee offers a significant opportunity for marketers throughout the MENA region. More brands are opening their minds to deeply engage users through Likee’s unique branding campaigns, which are serviced by the BIGO Ads team, as a result of Likee’s rising user traffic and entertaining interactive experience. In fact, by 2021, PUBG Mobile had already achieved unprecedented success multiple times with Likee.
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A successful collaboration with PUBG Mobile
In 2021, PUBG Mobile is one of the most successful collaborative partnerships with BIGO Ads. This popular mobile game launched three hashtag challenge campaigns in Likee, including a Halloween Campaign, a Reunion of Classic Modes Campaign, and a PUBG Mobile 3rd Anniversary Campaign.
The campaigns for PUBG Mobile were the best-performing in the MENA region, with over 276 million total impressions and 250 thousand video posts delivered. BIGO Ads created the campaign mechanism for Halloween 2021 in order to strike a good balance between the Halloween atmosphere and PUBG Mobile gaming elements. The campaign was a huge success, exceeding most of Likee’s MENA benchmarks. It increased the overall awareness of PUBG Mobile and aided in reaching out to younger audiences in order to attract more new players. Francis Tu, Director for BIGO Ad said,
“We are extremely proud of our collaboration with PUBG Mobile and be glad to achieve unprecedented levels of success on Likee. We reviewed the unique gamifying features of PUBG Mobile to brainstorm the key ideas after which the BIGO Ads team set up a series of marketing solutions to spark an impact for PUBG Mobile and engage more young netizens. The PUBG Mobile cooperation has definitely given us a chance to showcase our professionality and passion to the brands in MENA.”
Wick Wang, Operations Director for Likee MENA explained why short video platforms are an ideal marketing solution for brands,
“The significant traffic on Likee and short video platforms in general helps to build brand awareness. In-app exposure through splash screens, banners, hashtags list, in-app messages and more, together with customized effects with brand elements powered by the cutting-edge technology of Likee is powerful enough to create content with unlimited fun. This also encourages users to engage more with the marketing campaign through the relevant in-app activities.”
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Bloomberg Media Studios Unveils First Creative Hub In The UAE
Bloomberg Media Group announced the launch of “Bloomberg Media Studios” in the UAE. The media group is expanding its international presence to the Middle East and Africa with the creation of its first creative hub in Dubai. The studio is the brand content division and will be serving the clients in the region to reach Bloomberg’s influential audience through strategic brand storytelling. It collaborates with companies around the world in technology, tourism, finance, luxury, and more.
The newly formed studio will work closely with the Bloomberg Media commercial team in Dubai to develop integrated partnership opportunities and data-driven creative content. By doing so, they can scale production to meet the demand for personalized, purposeful, data-driven storytelling content. It is also part of Bloomberg’s ongoing media expansion in the region, which includes added localized platforms, content, and regional talent. Globally, studios revenue grew 50% Y-o-Y from 2020 to 2021. This comes after the studio doubled its client list in the Middle East and Africa region over the same period.
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Stephen Colvin, global commercial president of Bloomberg Media Group said,
“Our business in the Middle East has seen significant growth over the past two years, which has required us to expand the operations of Bloomberg Media Studios from London to Dubai.
The creation of a studio in Africa and the Middle East is an important addition to our other studios in New York, London, and Singapore and will allow us to successfully fulfill the demand for our unique data-driven and purpose-focused brand storytelling.”
Ashish Verma, Global Head of Bloomberg Media Studios stated,
“Bloomberg Media Studios is a strategic partner to clients that unlocks the power of the Bloomberg ecosystem. Our new studio in the UAE will be a place to enhance our collaborations with Africa and the Middle East’s most ambitious companies to deliver high-quality content that reaches a global, influential audience.”
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How Advertisers and Brands Are Responding To The Ukraine Crisis
Russia’s ongoing invasion of Ukraine is driving advertisers to take action. They are rapidly reassessing their creative and media spending. Brands are supporting their staff in the region and pledging to help Ukrainian citizens across the globe. From pausing ad placements to cease product sales, cut services, or halting business with Russia. Here’s a host of some big companies that began to trickle in recent days.
Accenture
The first major company in the marketing and advertising field took a definitive stance that it will discontinue doing business in Russia. In addition to its 2,300 employees, the multinational consulting company has a global innovation lab in Moscow called ‘Future Camp’. The company thanked them and vowed to support the former employees. The company has promised to help its Ukrainian colleagues around the world and their families. It will give $5 million to organizations that provide assistance to Ukrainian citizens and those seeking asylum in neighboring countries.
McKinsey & Company and Boston Consulting Group also declared today that they will no longer deal with Russian companies.
Roku
The streamer dropped a Russian-backed news channel from its channel store everywhere that including Europe and the U.S. The decision follows a similar move from DirecTV which is “accelerating this year’s contract expiration timeline and will no longer offer their programming effective immediately” amid the unfolding crisis in Ukraine.
Extreme Reach
Adtech firm, Extreme Reach has stopped distributing and delivering ads to Russian-affiliated internet and television sites. As per Adage reports, the company said, “As a global company, we are part of a global community that is weakened when any of its people are oppressed. More directly, we’re providing support to our team members who are themselves based in Ukraine or whose families and loved ones are in the midst of this unthinkable crisis.”
Microsoft
Microsoft has removed RT news’ mobile app from the Windows app store, in addition to banning all ads on Russian state-sponsored media. In a blog post, Microsoft said that they are focusing on four areas to help Ukraine. They are working on cybersecurity, state-sponsored discrimination campaigns, humanitarian aid, and employee protection.
The tech giant has paused all advertisements across products in Russia. This is relevant for ads on Search, YouTube, Display, and the move is effective immediately. It is an extraordinary step given how much of Google’s revenue is from advertising. Google blocked mobile apps connected to Russian state-run media outlets RT and Sputnik from the playstore.
Twitter also announced a similar move and said, “We’re temporarily pausing advertisements in Ukraine and Russia to ensure critical public safety information is elevated and ads don’t detract from it.”
Apple and Facebook
The tech giant has ended the sale and exports of its products to Russia. In a statement, it said, “Apple Pay and other services have been limited. RT News and Sputnik News are no longer available for download from the App Store outside Russia. And we have disabled both traffic and live incidents in Apple Maps in Ukraine as a safety and precautionary measure for Ukrainian citizens.”
Facebook’s parent company Meta has restricted access to Russian state media accounts and blocked the running and monetization of ads on their platform. It has also removed accounts that provided disinformation and targeted Ukrainians.
Spotify
Spotify, the podcast service provider has shut its offices indefinitely in Russia. It has removed all Russian-state-affiliated content.
Equinor
Norwegian energy company Equinor has had a presence in Russia for over 30 years and has decided to end the joint venture with Roseneft.
In a statement, the company said, “In the current situation, we regard our position as untenable. We will now stop new investments into our Russian business, and we will start the process of exiting our joint ventures in a manner that is consistent with our values. Our top priority in this difficult situation is the safety and security of our people.”
AirBnb
The company has suspended all operations in Belarus and Russia. It will offer free, temporary housing for up to 100,000 refugees from Ukraine. It will also partner with resettlement agencies to house Ukrainian refugees globally.
Airbnb is suspending all operations in Russia and Belarus
— Brian Chesky (@bchesky) March 4, 2022
Oracle
The software company suspended all operations in Russia. Ukraine’s minister of digital transformation requested on Twitter that the company ends its business relationship with Russia, Russian clients, and partners.
Publicis
Publicis CEO and Chairman Arthur Sadoun sent an internal memo to the holding company’s 350 Ukraine employees ensuring guaranteed salary pay for 2022. In the memo he said, “While these financial measures can only help a small part of the turbulent reality you face today, we hope it will give you some sense of security, help provide for your loved ones and allow you to plan and take back control of your lives.”
BP and Shell
Both BP and Shell will exit Russian operations.
BP is one of the largest foreign investors in the oil market. The company exited a 20% stake in the Russian oil giant Roseneft- a move estimated to cost the company $25bn. On the other hand, Shell will exit its partnership with Russian oil company Gazprom.
IKEA
The home furniture retailer has paused all its operations in Russia, and Belarus. In a statement, it said, “These decisions have a direct impact on 15,000 IKEA co-workers. The ambitions of the company groups are long term and we have secured employment and income stability for the immediate future and provide support to them and their families in the region.”
Fashion retailers like H&M, Marks & Spencers, Burberry, ASOS have halted Russian sales.
Disney, Warner, Sony, Paramount, Universal, and Netflix
Disney, Warner, Sony, Paramount, Universal has paused all their theatrical releases in Russia. Meanwhile, Netflix has stopped all the future projects in Russia.
Jaguar Land Rover and Aston Martin
The automakers halted all operations in Russia. Tata Group-owned JLR has halted car deliveries in Russia. Similarly, Aston Martin has halted stopped the exports and production of its cars in Ukraine and Russia.
Honda, Toyota, Mercedes, and Mazda have also joined the list of automakers who have stopped operations in Russia. According to Reuters, the Japanese company Toyota produces about 8,000 vehicles in Russia. Honda has suspended operations in Russia due to difficulties with payments and shipping vehicles. Mazda announced that its joint venture plant in Vladivostok would soon cease exports soon.
Visa and Mastercard
Two major card payment firms, Visa and Mastercard, have blocked numerous transactions with Russian banks. Reuters said Mastercard’s net revenues from Russia accounted for approximately 4 percent of its total revenues.
Nordea, HSBC, Mashreqbank and Raiffeisen Bank International
In a statement released by Reuters, Nordea Asset Management announced that they will liquidate all of their investments in Russian government bonds, equities, corporate bonds, and alternatives. has decided to liquidate all of its investments in Russia, including government bonds, equities, corporate debt, and alternatives. The British Bank HSBC has winded down its operations with a host of Russian banks Dubai-based Mashreqbank also halted its operations with Russian banks and Austria’s largest bank Raiffeisen Bank International is planning to exit the Russian Federation.
Siemens
Germany-based Siemen’s work on new projects and deliveries are put on hold in Russia. Russia, where the company has been active since 1852, contributes just 1 percent of sales to the company. Siemens has also ceased operations on its 1.1 billion euro contract with Russian Railways to build high-speed trains.
MSC, Maersk, CMA CGM
Shipping giants including Switzerland-based MSC, Denmark’s Maersk, and France’s CMA CGM suspended non-essentials cargo bookings to and from Russia until further notice.
AerCap
In compliance with the applicable sanctions against Moscow, the world’s largest aircraft leasing firm AerCap announced that it will cease leasing from Russian airlines. The company has 152 aircraft worth $2.5 billion in both Russia and Ukraine.
Compare the Market
Compare the Market, a UK financial comparison website, is withdrawing its long-running ad campaign featuring Russian-accented meerkats from news programs.
