SINGAPORE, Oct. 06, 2024 (GLOBE NEWSWIRE) -- The Chief Marketing Officer (CMO) Council (www.cmocouncil.org) has announced the appointment of Asia technology industry veteran Daniel Ng as President of its Asia Advisory Board and the additional role of Chief Relationship Officer in the region. He will work closely with its long-serving APAC chair Vivek Kumar, who recently assumed the regional CEO position at the World Wide Fund (WWF) for Nature, a Swiss based NGO.
Ng’s leadership role will help the CMO Council multiply strategic partnerships, regional members and subscribers, program sponsors, as well as the distribution, consumption and monetization of content assets. There are more than 3,500 CMO Council members in the Asian theater, including nearly 800 in India, the region’s fastest-growing economy. Globally, the CMO Council represents some 16,000 chief marketers collectively controlling nearly $1 trillion in annual, aggregated marketing spend.
Ng is a pioneer in the ICT industry and noted marketing transformation architect. His 40 years of experience includes product management and marketing leadership roles in companies like IBM, Red Hat, Microsoft, as well as Sun Microsystems. At the latter, he helped lay the foundation of Malaysia’s Multimedia Super Corridor. His experience includes the journey ‘from MIPs, through Collected Data, to now Connected Data and Sustainability. Daniel currently consults with organizations like Smart Cities Network, MAD Academy, and Singapore Chinese Chamber of Commerce and Industry.
Marketing in Asia is a multibillion-dollar industry that is dynamic and ever-changing. According to Statista and AI Overview:
- Asia is the second-highest spender on advertising in the world, after North America. In 2024, ad spending in Asia is projected to reach $359.7 billion.
- In 2022, digital ad spending in Asia increased by 64%. By 2029, 80% of total ad spending in Asia is expected to be generated through digital channels. Digital ad spending is projected to approach US$257.3bn in 2024.
- TV and video advertising is the largest market in Asia, with revenues of $108.6 billion in 2024.
Emerging markets in Asia are growing rapidly, while established players face challenges. For example, India is projected to be the region's fastest-growing market, with ad spend expected to increase by 11.9%. Mature markets like Australia are facing challenges. Ad spend in Australia is expected to grow by a modest 2%.
In 2023, there were estimated to be over 376.66 million companies operating worldwide, of which over 200 million were in Asia, 67 million were in Africa, and 34 million were in Europe. In 2023, there were an estimated 225,000 large companies operating in Asia compared to an estimated 83,000 in Europe, and over 41,000 in North America, reports Statista and AI Overview.
While Asia's economic vitality is expected to slow in 2024 and 2025, the region remains a key driver of global growth:
- 2023: The Asia-Pacific region is expected to grow by 4.6%, up from 3.9% in 2022.
- 2024: The World Bank projects that regional growth will ease to 4.5%. The IMF projects growth to slow to 4.2%.
- 2025: The IMF projects growth to slow to 3.9%
There are many opportunities for the CMO Council to further its Asia market presence, recognition and commercial traction. Ng will lead a dedicated effort to focus on:
- Regional partnerships and localized program funding
- WoM networking and ambassadorship commitments
- Content consumption and website traffic building
- Premium membership revenue growth
- Corporate and university library subscriptions
- Country marketing association alliances
- Conference producer linkages and event tie-ins
- Visibility, voice and authority in the region
- Media coverage and LinkedIn group participation
About CMO Council
The Chief Marketing Officer (CMO) Council is the only global network of executives specifically dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide range of global industries. The CMO Council's 16,000-plus members control approximately $1 trillion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include more than 65,000 global executives in more than 110 countries covering multiple industries, segments and markets. For more information, visit www.cmocouncil.org.
Media Contact:
Kevin Sugarman
ksugarman@cmocouncil.org
