CMOs command premium pay in tepid job market | Ogilvy, Leo Burnett, VML bag Bronze Lions on Day 2 of Cannes Lions 2024

Storyboard18 presents top five news updates from the world of advertising, marketing and business of brands.

By  Storyboard18Jun 18, 2024 6:57 PM
CMOs command premium pay in tepid job market | Ogilvy, Leo Burnett, VML bag Bronze Lions on Day 2 of Cannes Lions 2024
The median total compensation, including long-term incentives, of CMOs has increased by 8 percent in 2024 as companies focus on retaining key executives. (Image source: Unsplash)

Storyboard18 presents FAST FIVE

We bring you top five news updates from the world of advertising, marketing and business of brands.

Click here to know more 🔥

CMOs command premium pay in tepid job market. Find out how much CMOs earn

In an otherwise tepid job market, companies are handing out hefty pay hikes to Chief Marketing Officers (CMOs), according to Deloitte India. CMOs / marketing heads play a vital role in driving the company's revenue, brand, product, customer engagement, market research, etc.

The median total compensation, including long-term incentives, of CMOs has increased by 8 percent in 2024 as companies focus on retaining key executives.

Maruti Suzuki's Partho Banerjee on targeting young eco conscious consumers and more

Maruti Suzuki India Limited (MSIL) launched a new campaign, 'Run On What You Love,' to promote its S-CNG technology. The campaign emphasizes the benefits of S-CNG vehicles: freedom, adventure, and a sustainable driving experience.

Partho Banerjee Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited highlights, "Our monthly sales of S-CNG vehicles have reached approximately 50,000 units, marking a substantial segment of our current sales. We are experiencing a growth rate of 25% compared to last year. Notably, whereas every fourth car sold by Maruti last year was CNG-equipped, in the past two months, every third car sold has been converted to an S-CNG model from our stable."

Ogilvy, Leo Burnett, VML bag Bronze Lions on Day 2 of Cannes Lions 2024

The 71st edition of the Cannes Lions International Festival of Creativity commenced on June 17 in the French riviera. Indian agencies picked up a total of four Lions on June 17 at the ongoing festival.

Results of three more categories have been released, revealing that Indian agencies and brands have picked up three more Lions taking the total tally for India to 7.

In the Entertainment Lions category, Ogilvy (Mumbai) has won a Bronze Lion for their ‘Erase Valentine’s Day’ campaign for Mondelez-owned Cadbury 5 Star. The media agency for the campaign is Wavemaker India.

Bollywood's comeback king? Shah Rukh Khan climbs brand value ladder while Virat Kohli holds strong: Report

The Celebrity Brand Valuation Report by Kroll states that the M&E sector continues to be dominated by the television segment followed by the digital media and print segments. The digital media segment is expected to increase to 50% of total advertising in 2023, up from 48% in 2022.

The top three most advertised brands on digital platforms are Pepsi endorsed by Ranveer Singh; Livspace endorsed by Anushka Sharma and Virat Kohli; and JioCinema endorsed by Alia Bhatt, MS Dhoni and Sachin Tendulkar, as per Kroll's report.

Microsoft Xbox Jerret West to join Roblox as chief marketing officer

Jerret West, who led Microsoft's Xbox as marketing chief, will be joining gaming platform Roblox as chief marketing officer. During his tenure, West oversaw all marketing efforts for gaming across the company, including a 200-person global team and over half a billion dollars in marketing spend. His team developed marketing strategies for games, hardware, and services such as Game Pass and Series S/X consoles across the gaming division.

Stay tuned to Storyboard18's FAST FIVE from the world of advertising, marketing and business of brands.

First Published on Jun 18, 2024 6:57 PM

More from Storyboard18

How it Works

Now you can file Income Tax Returns via WhatsApp

Now you can file Income Tax Returns via WhatsApp

Brand Marketing

'Indian market is witnessing a significant shift toward premium devices', says Qualcomm CMO

'Indian market is witnessing a significant shift toward premium devices', says Qualcomm CMO

Brand Marketing

Gaming firm Nazara acquires 100% stake in Kiddopia's Paper Boat Apps with Rs 300 cr investment

Gaming firm Nazara acquires 100% stake in Kiddopia's Paper Boat Apps with Rs 300 cr investment

Brand Marketing

Tata Digital integrates Tata Shop Share Smile (TSSS) into Tata Neu App

Tata Digital integrates Tata Shop Share Smile (TSSS) into Tata Neu App

Brand Marketing

Asian Paints Q1 FY2025 result: Net profit declines by 24.5% to Rs 1,170 cr, demand hit due to 'heatwave, election'

Asian Paints Q1 FY2025 result: Net profit declines by 24.5% to Rs 1,170 cr, demand hit due to 'heatwave, election'

Brand Marketing

Plum launches Perks, onboards over 50 brands on insurtech platform

Plum launches Perks, onboards over 50 brands on insurtech platform

Brand Marketing

'Ready to mix body wash failed for us’, says GCPL’s MD and CEO Sudhir Sitapati

'Ready to mix body wash failed for us’, says GCPL’s MD and CEO Sudhir Sitapati

Brand Marketing

ZEEL to raise $239 million through 10-year Foreign Currency Convertible Bonds

ZEEL to raise $239 million through 10-year Foreign Currency Convertible Bonds