Info Media Group (IMG), a public transport advertising company from the city of Banja Luka in Bosnia & Herzegovina, is making its mark in the United Arab Emirates (UAE). Just over a year after opening its Dubai office, the company is evolving from its base in the former Yugoslavia to an emerging global player in the sector.

Founded by Vedran Pusic, a former footballer who originally planned to become a dentist, IMG has had a 20-year journey from its beginnings in the capital of Bosnia’s Serb entity Republika Srpska to the Middle East. 

Pusic started out back in 2004, when he took over a debt-laden family business and turning it around with the launch of a local business directory. In an interview with bne IntelliNews, he recalls going door-to-door to get customers on board with the new project. He started promoting the director at exhibitions and fairs all over Bosnia as well, where a meeting with a Croatian businessman led to his company’s move into public transport advertising. 

Over the years the business grew steadily, first from Banja Luka to other cities in Bosnia such as Sarajevo and Mostar, and then across the former Yugoslavia to major cities in Serbia, Croatia and Montenegro.

IMG’s first ever client was Pepsi’s Chipsy campaign; now the company works with numerous international brands to promote their products on a fleet of buses in 45 cities. 

A critical breakthrough came in 2015 when IMG took over a struggling Serbian competitor, giving the company a foothold in a market that had been split among smaller players. IMG then entered Montenegro, consolidating its dominance in the region.

It was more difficult to break into its first EU market, Croatia. However, an opportunity came after the coronavirus (COVID-19) pandemic, when cities were struggling financially and the Croatian capital Zagreb accordingly announced a tender for advertising on its buses and trams.

Today, IMG is recognised as the Adriatic region’s leading public transport-based advertising agency. 

Outside the region, the company has exclusive deals with major transportation authorities, including in the UAE. 

Looking to the future, Pusic told bne IntelliNews he has his sights set on all the Gulf Cooperation Council markets, aiming for complete regional expansion within the next five to seven years.

Navigating a complex market

One of the key elements that prepared IMG for international expansion, especially into more complex markets like the UAE, was its extensive experience navigating the notoriously complicated business environment of Bosnia, according to Pusic. The country is fraught with bureaucratic challenges, with different tax laws across 10 cantons, political instability and a fragmented economy that when Pusic was starting out was still devastated by the wars of the 1990s.

Specifically, he points out that Bosnia, with a population of 3.3mn people, has more tax laws than the US with 360mn.

“It’s a difficult market, but that difficulty was our advantage,” says Pusic. “It helped us when we started out expansion in 2015 by increasing our skills, to prepare better for other markets.”

Pusic doesn’t mince his words when talking about the business environment in Bosnia, which he describes as a “very nice country with very bad politicians”. He slams local politicians for stirring up ethnic tensions to hide their own corrupt actions.

Despite the problems with corruption in Bosnia – Transparency International rates it as one of the most corrupt countries in Europe in its annual Corruption Perceptions index – Pusic says he was always determined to keep his business legal. “I want to run my business in the proper way, even though that’s the harder way … I don’t want to cheat anybody,” he says. 

IMG also ran into problems in Croatia after the death of long-standing Zagreb mayor Milan Bandic. The new green-left city administration quickly launched reviews of a number of contracts signed under the previous mayor, targeting IMG in particular. Pusic and his company were forced to defend themselves against accusations of corruption. 

As IMG turned its attention toward the Middle East, Pusic faced a new set of challenges, going head to head with media giants like France's JC Decaux and the UAE's Hypermedia.

“Selling services in Dubai means selling yourself first,” explains Pusic. “You need to understand the psychology of the people across the table. If you can prove your skills and experience, you have a chance.”

IMG did just that, becoming a key player in the UAE’s public transport advertising landscape and planning to continue its growth across the GCC region.

At the same time, company continues to innovate, pioneering new advertising techniques, such as external LED displays on buses and augmented reality screens inside public transport vehicles.

The next steps

Despite the company's rapid growth, Pusic remains grounded, driven by a vision of building a legacy for his four children and his hometown of Banja Luka.

“My legacy isn’t just the company I’ve built; it’s the example I set for my children, for the people of Banja Luka. When I am gone, I want people to tell them, ‘Your father was Vedran, and he was a good man.’ That’s my legacy,” he says. 

Yet the journey is far from over. IMG’s next phase focuses on solidifying its presence in the GCC, while continuing to build its operations in Europe. “With experience in the GCC, we can fight for every other country,” he says. 

“Bosnia is a small country. We don’t have a strong influence in the European economy, even in the Adria economy. But when you come from a small country, you can still dare to dream big and follow your dreams.”