Dentsu Aegis Network has released its 'Advertising Spend June 2019 Forecast', based on data from 59 markets.
It predicts Asia Pacific ad spend will grow by 4 per cent in 2019 and global growth which will reach 3.6 per cent. India, will see double-digit growth at 11.4 per cent to reach INR 696.9 billion (up from the 10.6 per cent forecast in January and 10.8 per cent growth in 2018) with the Cricket World Cup putting growth on the front foot. Lok Sabha Elections were another driver to increased spends in 2019.
Digital media spend is forecast to grow by 32.7 per cent in 2019 to account for INR 144.1billion, making up 21 per cent share of total spend. TV continues to be the leading media in 2019 and will contribute 39 per cent share of total spend.
Kartik Iyer, president, Amplifi India, said, “India is at the cusp of a major change. We are as of today seeing significant churn in the media consumption habits which is therefore driving change in ad spends. With the expansion on online video via mobile devices, the role of TV is changing and entertainment at one’s own pace is becoming the norm. This is driving media owners to relook at their product and distribution strategies.”
GroupM also released its worldwide media forecast, which showed a similar picture, with global adspend growth slowing to 3.4 per cent, down from 6.9 per cent in 2018. For APAC, GroupM predicts 4.9 per cent growth for a total spend of US$209 billion.
For India, the forecast expects accelerated growth of 14 per cent in 2019, and then 13 per cent, allowing the country to surpass Canada and Australia and become the world’s eighth-largest advertising market.