The Pitch Madison Media Advertising Outlook report for 2017, predicts a 13.5 per cent growth in advertising spends in 2017. The report was unveiled in Mumbai on 15 February 2017 and estimates the market to grow by 6,672 crores to reach Rs 56,152 crores.
The report revealed that growth in the Indian Advertising Market slowed down to 12.5 per cent. The major reason for this was demonetisation, that took off Rs. 1,650 crores from Adex in November and December 2016.
In 2017, Madison expects TV advertising to grow by 13.1 per cent to reach Rs 21,296 crore and have a 38 per cent share. It estimated 2016's growth at 9.1 per cent.
Print is expected to grow by 9.5 per cent his year to have a 35 per cent share. This is higher than last year's growth of 7.2 per cent.
According to the report, Digital will grow by 25 per cent to reach Rs 9,144 crore and have a 16 per cent share. The medium grew at 15 per cent last year.
The report estimates Radio to grow by 14.8 per cent to reach 2,008 crore. This is higher than last year's 13.2 per cent.
Cinema is estimated to grow at 15 per cent (12.5 last year) and Outdoor at 11.1 per cent (9.2 last year).
Sam Balsara, chairman, Madison World, said, “Our expectation is that the market will grow 13.5 per cent in 2017, but growth rates will vary widely from month to month.We expect the market to grow by just 8 per cent for the period January to April 2017, 14 per cent from May to October 2017 and 24 per cent in November and December 2017, given that market had de-grown by 8 per cent in November and December 2016. Our optimism for good growth in Adex starting May comes on the back of several govt initiatives- from high government investment in infrastructure, lower corporate and personal taxes for small and medium companies and the masses, good government support for the poor and consequently the wide scale expectation of yet another year of high GDP growth.”
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