Founded in 2004 in Banja Luka, Info Media Group has spent the past two decades establishing itself as a regional leader in public transport advertising. Starting with local markets, we quickly expanded across Bosnia and Herzegovina and, in 2011, successfully acquired a key competitor, solidifying our presence in the industry.
Our first major breakthrough came in 2007 with a project in Sarajevo, which paved the way for our continued growth. Today, we proudly operate in over 45 cities across the region, including Serbia, Croatia, and other ex-Yugoslav markets. Despite facing challenges along the way—such as frequent management changes within partner organizations and initial resistance due to our Banja Luka origins—we’ve consistently demonstrated resilience and a commitment to improving our services.
Our CEO, Vedran Pušić, believes that passion is at the core of our success: “You can only excel at one job, and if you love what you do, you will constantly strive to improve.” This philosophy drives our ongoing growth, including our recent expansion into the GCC region, as we prepare for further opportunities. As we celebrate 20 years of success, Info Media Group remains dedicated to setting new standards in the public transport advertising industry, positioning ourselves for continued growth and future opportunities on a global scale.
Info Media Group’s Expansion into Belgrade and Beyond
Back in 2010 or 2011, I attended a meeting in Belgrade. Standing at Slavija, I saw buses with the Masel Group sticker and thought to myself, “One day, it would be great to see our logo on those buses.” Fast forward to 2015, and the opportunity to take over the business presented itself. A Croatian company was also in the running, and the negotiations felt like we were trying to stop a war.
Today, we operate in 45 cities across four countries: Serbia, Croatia, Montenegro, and Bosnia and Herzegovina. We’re currently preparing to expand into another market next year, though the details remain confidential. We’re in discussions to acquire a company that’s a market leader there. We also have our sights set on Slovenia and North Macedonia. Last year, there was an opportunity, but I tend to be conservative when making investments. We’re not entering a market just to say we’re there—we’re entering to do business, generate profit, and succeed.
Breaking Into the UAE Market: “These Guys Are Crazy
Recently, we signed a contract to brand trams in Dubai, marking our first entry into a non-regional foreign market. Our journey into the UAE began in late 2021 when I realized that Europe was dominated by large global players—French and Swiss companies, mostly. Our goal is to fully consolidate the Adria region by 2025, but we also knew that Western Europe’s advertising markets were locked down by these major corporations. To get on their radar, we needed to grow elsewhere, to the point where they would consider acquiring us—but on our terms.
The entry into the UAE happened organically. I was contacted by the director of an Arab company for the Adria region, who referred me to their head office in Doha. Initially, they wanted to run campaigns on trams and buses in the region, but I was later informed that I’d be contacted by their Dubai office instead, as they handled advertising outside the GCC.
After confirming the legitimacy of the agency—they worked with airlines and the Dubai Tourism Board—I knew the potential was significant. Though they suggested an online meeting, I offered to fly out because I believe in face-to-face connections. During our discussion, I asked why buses in Dubai weren’t branded yet, thinking there must be legal restrictions. In 2022, I found out that an Indian company previously controlled the market but went bankrupt during COVID, abandoning its operations.
With that opportunity, we began our push into Dubai. We assigned an agency to investigate the RTA (Roads and Transport Authority), and they informed us that a tender was open for bus advertising in Dubai. The process required a prequalification stage just to be shortlisted. With only one month left of the two-month tender, and 16 companies already competing, we had 10 days to gather 25 documents. They told us if we could submit 10 in five days, we’d have a chance. We ended up submitting 21 out of 25 documents in just five days, and the agency said, “These guys are crazy.”
Part of the contract went to a Malaysian firm, and the rest to us. That led to signing a deal for taxis in Dubai, expanding into another emirate where we secured buses, taxis, and bus stops for 5+ years. In a third emirate, which is developing artificial islands and opening casinos, we also won the bus and taxi contracts for 5+5 years. We replicated this success in Abu Dhabi.
As we continue expanding in Dubai, we are now planning our entry into other Middle Eastern countries, including Qatar, Bahrain, Saudi Arabia, Oman, and Kuwait. We’re actively following global tenders in major cities and aggressively pursuing new opportunities. In just a year, we’ve become the only company offering a One Stop Shop for bus and taxi advertising in the UAE. If a national campaign is needed across all major emirates, you have to work with us.
Securing Premium Contracts in Dubai’s Exclusive Tourist Zone
Last year, a tender was issued for tram branding, stations, and bridges in one of the most exclusive tourist areas in Dubai. It’s a premium contract, and competition was fierce. The financial offer accounted for 30% of the final score, while expertise made up 70%. We had some luck on our side. After six rounds of evaluation by a 28-member panel, we met the threshold, and it became clear that we were the winners. We then entered negotiations, and the contract was officially signed in Berlin during the global trade fair for trams, metros, and railways.
Industry Trends: Digitalization of Vehicle Exteriors is the Next Step
How dynamic are the changes in the advertising industry with new trends and quality standards, and how are you keeping up?
In the last five years, the advertising industry has experienced a revolution, particularly with the rise of social media. In our more traditional markets, over 50% of budgets still go toward TV advertising. However, digital advertising is growing rapidly, print is declining, and outdoor advertising was in decline until COVID hit. After the pandemic, people rediscovered the beauty of being outdoors, which led to a growth in outdoor advertising of 15-18%, and in some countries, even up to 20%. For example, in the UAE market, 35% of ad budgets go toward outdoor advertising. Our main strategic focus for next year is the digitalization of vehicle exteriors, following our digitalization of vehicle interiors four years ago.
In 2022, you announced the introduction of new LED technology with video and audio content on and inside buses. Has that been implemented? The second half of 2024 was the deadline for digitalizing the exteriors, correct?
Yes, the deadline was to identify the technology, select a supplier, and begin implementation. That is happening right now—we are receiving a shipment of digital displays for exterior advertising, which we will implement in the last quarter of this year and officially launch. We will start testing in the region, particularly in Bosnia and Herzegovina, as well as in the Middle Eastern market, where this process is already underway.
Who are your clients, and which brands do you advertise for? Do any of them have special requirements?
We work with some of the most recognized global brands. They each have different needs, but one beverage company, in particular, always pushes for something new and ahead of the curve—like illuminated foils. We are constantly innovating when it comes to special requests, pushing boundaries for our clients, especially in the Middle East, where everything is now focused on digital.
We’ve never been in a rush to chase money at all costs. We strive to accomplish more than we ever dreamed. We live our dream.
Is there a product or service you have refused to advertise?
In our contracts with transportation companies, we agree not to promote any form of racial, national, gender, or territorial discrimination, and to advocate for equality. This is a principle we uphold as a company, and we’ve turned down offers we felt were unethical. We always ask ourselves, “What would our partners think?” We aim to be responsible and not take on campaigns for the sake of quick money.
We don’t rush after money at all costs. We chase after our dreams and go beyond what we imagined we could achieve. We live our dream. We want to continuously improve and show our clients, particularly in the Middle East, the specific target audience they will reach with their campaigns, using data from phones and GPS devices in the vehicles. After the campaign, we deliver insights about who saw it and the impact it generated, offering them clear expectations of results.
Overall Improvements in Public Transportation in the Region
How would you assess public transportation and awareness of its use in the region?
In the past five years, we’ve seen significant improvements as transport operators have started renewing their fleets, especially in Croatia, where they’ve utilized European funds offering subsidies of up to 100% for electric vehicles. Now, private companies in Bosnia and Herzegovina are also renewing their fleets and taking better care of them. We’re particularly pleased to see Sarajevo beginning to upgrade its fleet. Belgrade has always been committed to purchasing new buses, and recently over 300 new buses have been delivered, along with an order for new trams. Podgorica has also acquired new buses over the past two years.
Overall, there is a growing trend where public transport fleets are no longer allowed to exceed 5-7 years of age. In smaller cities, public transportation has traditionally been seen as a social necessity, but we’re seeing a shift where urban streets are being closed to traffic, and parking prices are rising. It’s becoming less feasible to expect to drive directly into the city center. In larger cities, even those earning 1,500+ euros a month are opting to use public transport.
There’s also a change in perception. For example, in Sarajevo, managers earning over 2,000 KM are already using public transportation. It’s crucial to provide reliable, quality transport services, promote their benefits, and ensure they’re on time. If we do that, we are confident that more people will choose to use public transport.The
Relationship Between Visibility and Cost of Bus and Billboard Advertising
A 100-square-meter bus advertisement costs 1,500 KM per month, while a billboard costs 2,000 KM. Billboards are static and measure 12 square meters. In comparison, buses reach people wherever they are—whether commuting to work, shopping, or taking a walk. Both options have their advantages. In Sarajevo, for example, a one-month campaign on two buses provides 95% reach among city residents. The route from Vijećnica to Ilidža and from Otoka to Pionirska Dolina is visible to anyone moving around the city. Our utilization rate exceeds 70%, showing that our medium is desirable and attractive in terms of reach, population impact, and financial accessibility.
Are Companies Wrong to Cut Advertising Costs During a Crisis?
In any crisis, the fearless see an opportunity, while the fearful see a chance to lose something. Every crisis reshuffles the cards. During COVID, major companies pulled back, and their competitors gained a share with much less investment, which the big players can’t reclaim even with tenfold spending now. Perhaps it sounds harsh, but you can be the most beautiful woman in the world, but if you don’t go out, no one can see you. Similarly, you may have the best quality product, but if you don’t position it well in front of potential customers and communicate it effectively for people to try it, it’s as if you don’t have it at all.
We recommend watching the movie Focus with Will Smith to understand how marketing affects the human psyche.
As a quality medium, we can remind people of a product’s presence, and when it reaches the shelf, marketing and advertising influence the subconscious. We enable consumers to recognize and try the product; we cannot be responsible for its quality. Some companies are large and stable, traditionally inclined to advertise. It’s not only about sales but also about raising brand awareness and reminding consumers of their presence in the market.
Is There a Shortage of Staff in the Industry? Which Profiles Are Lacking, and Are Employees Willing to Improve and Educate Themselves?
Younger generations are entering the workforce, and we have a double-edged sword: they are highly creative and full of ideas but lack consistency and don’t want to be tied down or told how to work. With the significant exodus in the last two years, people have become quite pampered; they want to work less but earn more and have greater rights. We respect that, but we must balance expectations and say, “If you want more rights, you must also expect greater responsibilities.”
In the past year, we have been restructuring, aiming to transform from a private family-owned company into a corporation. We encountered resistance from some of our team members who were unwilling to take on certain responsibilities. These were individuals who had been in management for a long time, and we had to part ways with them—both for our sake and theirs. Our goal is to build a company that doesn’t rely solely on the founder or any one individual; we want everyone to be important and appropriately rewarded for their contributions.
We don’t want to create a system with ‘small gods’ within the company, and we believe no serious company does. We want to adopt good practices from international companies where employees aren’t just numbers. We aim for a clear hierarchy and decision-making system, where I don’t have to decide on things like where to source a pencil sharpener. We don’t want everything in one person’s hands. We formalized this with a new organizational structure a year ago, where it’s clear who does what and which decisions should reach me.
Advice for Those in the Early Stages of Business: Defining and Achieving Goals
Firstly, do not expect anyone else to do something for you or help you; you must believe in yourself. Even after 20 years, no one can solve things for me or make big decisions for me except myself. Our advice is not to enter business solely for money—if money is your sole motivation, greed will drive you, and no matter how much you earn, you’ll never be satisfied. It’s crucial to find a job you love; when you work on something you are passionate about, you will strive for improvement every day, and the money will follow as a natural consequence.
A prominent regional entrepreneur once told us: it’s nice to be at the top, but you are often alone there. People only see the nice aspects of business but don’t recognize the sacrifices. We constantly ask ourselves, “Is everything we do worth the sacrifice?” We have long ensured the well-being of our families. About 80% of the time, we feel stressed and frustrated, and maybe the common word for this is ‘unhappy.’ However, the remaining 20% of the time, when we achieve our goals, we feel fulfilled. It’s not what you’re made of during those 20% happy times that defines you but how you handle the challenges during the other 80%.
For those building companies, especially in our market, perseverance is key when facing turbulence and problems. Dostoevsky said: “When you have a goal, walk towards it firmly and bravely. You’ll pass by many yards with angry dogs barking at you. If you stop to throw stones at every barking dog, you’ll lose your strength, focus, and energy, and you’ll never reach your goal.” We believe in this philosophy.
When we entered Serbia, we received threats from politically influential people questioning our presence. If we were afraid, we wouldn’t have ventured beyond our street, let alone to Sarajevo in 2006-2007, where we fought to establish our market presence.
Despite the wounds that never heal in our country, people are still talking about the war, 30 years after its end. It’s sad, but we must follow our dreams, remain persistent, take calculated risks, and be bold when necessary.
Have We Lost Business Due to Politics?
Absolutely. State-owned companies make up less than 3% of our total revenue. Organizations like the telecom, lottery, and postal services, as well as ministries and utilities, have never advertised with us. Over the past 20 years, we’ve never pursued these accounts, nor do we intend to. There have certainly been political factors that resulted in lost opportunities. While we haven’t faced direct challenges, we can recognize the reasons behind certain decisions made by others, and some have explicitly stated that it’s not appropriate for us to be awarded contracts. To avoid such scenarios, we do not participate in tenders where we know the decisions would be political. We haven’t faced systemic undermining of our growth; we simply found our niche.
Lessons Learned from Mistakes
One of the biggest lessons was easily entering partnerships where we had 50-50 ownership. Differences in energy and decision-making can arise—some want quick action, others take a slower approach, and the market demands speed. This was a mistake we made, and we advise against partnerships where it’s unclear who holds the final decision or majority ownership. We’ve also made decisions quickly and emotionally. Emotions can be positive, but they should not drive business decisions, as they cloud judgment. We’ve made many mistakes, but we’ve learned from each one.
How Has Your Experience in Sports Shaped Your Business Approach?
We’ve always enjoyed competition, and we often compare business to sports because sports are supposed to be pure. You have a field, players, the same rules, a referee, and the best wins. This competitive spirit drives us in business and has certainly strengthened our character. Sports taught us that without a team, nothing is possible; the best teams always bring out the best individuals. We learned to fight and prove ourselves continuously—just like in sports, where past glory doesn’t sustain you, business also demands consistent performance month after month. Even when we played sports, dreaming of becoming a famous football player, we always thought about what comes next. Eventually, we decided that we saw ourselves more as business leaders than athletes, and that’s where the desire for this business was born. The key is to stay focused, educate yourself, and remember that when you think you know everything, that’s when you begin to decline.
