As the year 2023 begins, Ad World Masters is proud to announce its Agencies of the Year. Our rigorous selection process, which assesses the potential value of each agency, has resulted in the recognition of some of the most outstanding and accomplished agencies in the industry.
The selection process is based on the Agency Score, which is calculated using our proprietary Artificial Intelligence Algorithms. Agencies had until December 31st, 2021 to improve their score and compete for the coveted title of Agency of the Year.
The title of Agency of the Year is granted based on the Agency Score and is divided into three levels of recognition: Gold, Silver and Bronze. Gold is awarded to agencies with scores of 9.2 or higher, Silver is awarded to agencies with scores of 8.7 or higher, and Bronze is awarded to agencies with scores of 8.5 or higher. Each awarded agency will receive a digital badge of “Agency of the Year” for the level they are in.
The results of the competition are categorized by country, depending on the agency’s main location. In Bangladesh, the Ad World Masters Agencies of the Year competition features 3 Silver winners. These agencies represent the very best in the industry and are a testament to the creativity, innovation, and excellence that define the advertising field.
We would like to extend our heartfelt congratulations to all of the winners and thank all of the participating agencies for their dedication and hard work. We look forward to seeing the impact of their work in the coming year and beyond.
Curious to discover the results of other markets? Explore the results per country and learn more about the competition. If you don’t see your agency listed, sign up, list or claim your agency and you could be nominated for next year!
Insights into the advertising industry in Bangladesh
The advertising market in Bangladesh is a developing market, valued at around $1 billion in 2020. The digital advertising market is a significant segment of the Bangladeshi advertising market, valued at $300 million in 2020 and projected to grow at a CAGR of 10% from 2021 to 2025.
According to IAB Bangladesh, digital advertising accounted for around 30% of total ad spend in Bangladesh in 2020, with the e-commerce and telecommunications sectors being the most active in terms of digital ad spending. Social media and search are the most popular forms of digital advertising in Bangladesh, with Facebook and Google being the main players in the social media and search advertising markets, respectively. Mobile advertising also saw significant growth, accounting for around 60% of digital ad spend in 2020.
The e-commerce market in Bangladesh is also at an early stage, valued at around $1 billion in 2020 and projected to reach $3 billion by 2025. The market has been driven by the increasing popularity of online shopping and the growth of mobile commerce. Daraz, Grameenphone and Robi are the leading players in the Bangladeshi e-commerce market.
The leading advertising agencies in Bangladesh include WPP, Omnicom Group and Publicis Groupe. These agencies specialize in various forms of advertising, such as digital, television and print. The media landscape in Bangladesh is diverse, with television, newspapers, and radio being major players. The major television networks include ATN Bangla, Ekushey Television, and RTV. The newspaper market is also significant, with Prothom Alo and The Daily Star being among the most widely read.
According to a report by the Bangladesh Advertising Association, the top advertising categories in Bangladesh are FMCG, Telecommunications and Automotive. The Bangladeshi market is known for its low-income population, which limits the growth of the advertising market in the country. However, the market is expected to grow as the economy and incomes improve. Additionally, the market is known for its unique and creative advertising campaigns.
Overall, the advertising market in Bangladesh is a developing market, offering a limited range of opportunities for companies looking to expand their reach in the region. With a growing focus on digital and e-commerce advertising and a small but growing economy, the Bangladeshi market is an attractive market for companies in the advertising industry. Additionally, the market is known for its unique and creative advertising campaigns.