The Indian advertising market is estimated to raise 16.4% this year owing to the cricket World cup, upcoming elections, and the augmented rural and government spending, according to the report published on Wednesday.
The overall advertising expenditure (ADEX) is anticipated to reach from Rs. 60,908 crore to Rs. 70,889 crore this year, said Pitch Madison Advertising Report 2019.
The leading media investment company GroupM also expected the total advertisement spend in the country to raise as 14.3% in 2019, said TYNY report Tuesday. This growth will make India the third largest contributor to the advertising spends, after the U.S. and China, the report said.
As per the Madison report, the Indian advertising market raised 14.6% last year, beyond the prediction of 12.8%. The overall advertising spending improved by Rs. 7,769 crores in 2018, which is the largest addition in 1 year over the last decade. Automobiles, FMCG, e-commerce, and retail were the leading contributors to the ADEX, report stated.
“2018 has been substantial growth and we anticipate the momentum to remain in this year. Due to this growth, Country has regained its position of being largest advertising market cross the globe and it is expected to continue this growth even in 2019,” Sam Balsare, Founder of Madison World, stated.
Television is one of the major contributors to the advertising market with a revenue of 38%, which is followed by print media with a share of 32%. Similarly, print had a large number of advertisers as compared to other media, with the several companies advertising in print rising by 2,000 last year. India is one of the largest advertising markets where print is raising year by year.
This year, Madison anticipates cinema advertising to raise by 30%, radio by 12%, digital advertising by 33%, and outdoor by 11%.