The Indian advertising market is expected to become the tenth largest ad market in the world in 2017.
According to IPG Mediabrands-owned Magna report, Italy was the tenth largest ad market in the world up to 2016, but India will leapfrog the country, pushing it out from the top-ten list this year.
The report said that advertising spends in India is forecast to grow by 11.5% in 2017. This is 2% below the forecast of 13.5% by Magna but is in line with last year’s growth of 11.8%.
Ad spends in India are expected to grow to Rs 56,400 crore in 2017, the report said.
The Indian market is expected to grow by 12.5% in 2018 and accelerate further to 14% in 2019. This will be boosted by the ad spends due to the Cricket World Cup and General Elections.
Within the top 20 markets the highest growth rates are expected in China (7%), Spain (7%), India and Russia (10%).
A reason why the estimates are revised to 2% below is the disruption in the short term likely to be caused by the goods and service tax (GST) that comes into effect July 1.
It said that sectors such as social, fintech, payment banks, telecom, content distribution platforms along with FMCG, automobile, and e-commerce will drive spends this year.
In India digital continues to be the fastest growing medium and is expected to register a 28% growth. Even the digital ad spends are predicted to touch the Rs 10,227 crore mark.
However, traditional advertising spends will still remain strong in India. It said that India is one of the few large markets where all traditional media platforms will grow.
While television is expected to grow over 10.3%, with Free to Air (FTA) channels gaining significant ad spends, the print may grow by over 5.7% with higher spends from automobile, telecom, and education.
Radio is likely to see a large growth of over 13% while OOH is expected to grow by over 12%.
(Source: 20 June 2017, Sort out with DNA)
Written by PRAMOD
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