A few months ago, a major Indian food company called for a media pitch. The account, which is estimated to be worth around Rs 300 crore, has landed in the hands of a leading network’s sub-brand. Ad industry observers and people close to the development say the incumbent media agency has been hit by people exits which is why accounts are slipping away from its kitty. The agency recently lost the account of a new-age fintech brand too. Interestingly, the media agency is also a part of the same leading network that’s bagged the business after the pitch. “At the end of the day, all these big pitches are a joke, because businesses in advertising are largely people-led,” said a senior executive. He quipped, “CEOs have their tricks to bring back ‘Lakshmi’ home.”
