Pitch Madison revises growth rate in ad spends to 13.2 per cent

The agency initially released the Pitch Madison Media Advertising Outlook report for 2016 in February. Aside from the reduction in TV spends, all other media spends remain as per the original projections. 

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Sam Balsara, chairman, Madison World, said, “The drop in growth rate of TV advertising does not augur well for the economy as generally a spurt in ad spends leads to higher GDP growth.”

Vikram Sakhuja, CEO, Madison Media and OOH, added, “The drop in growth rates in TV is led by a lower contribution of E-commerce which is a category known to pick and choose high priced inventory/impact programmes and substituted by FMCG users who resort to everyday advertising and seek high value for money.”