Riding over the positive market growth, the advertising spend in the country is expected to have a growth rate of over 12% within the ongoing year. The total expenditure is expected to touch a sum of ₹61,100 crores and TV advertising will continue to grab the biggest share.
Recently, a report by PwC had suggested that the media & entertainment industry in India will grow at more than 10% in the ongoing fiscal year, which is way more than the global average projected for the same period of time.
The latest report by IPG MediaBrands India, suggests that the expenditure on media in India will continue to grow at a rate of 12.6% till 2021 and it is expected to touch 100,000 crores by the said year. The advertising revenue currently accounts for 0.38% of the total GDP of the country.
Magna Global, the media unit of IPG Mediabrands, stated that factor like promotion of digital India and make in India, urbanisation, government’s focus on ease of doing business and ever-growing startup community in the country will make sure that India stands in the list of biggest consumer markets in the coming years.
The growth in Indian advertising industry will be driven by the new entrants including eCommerce, Payment banks, telecom and fintech platforms, whereas, traditional advertisers like FMCG, Healthcare, Education and automobiles will continue to contribute to the advertising expenditure.
TV advertising continues to dominate the market. It currently accounts for 41% of the total advertising revenue and is expected to grow at 10.6% in the next 5 years. At the same time, print advertising will see a growth rate of 5.7%.