The Pitch Madison Media Advertising Outlook report for 2015, which was released on 20 February, has revised the growth in advertising spends for 2015 from 9.6 per cent to 13.8 per cent.
The report presented released in February this year projected the market to reach Rs 40,658 crore in 2015. The revised report estimates this number to now be Rs. 42,234 crore for the calendar year.
TV spends, the report stated, have increased by 21 per cent in H1 ’15 as opposed to the 10 per cent reported earlier this year with total revenue of Rs. 8200 crore as against Rs. 6800 crore in H1 14.
The report lists the main categories that led to the spike for H1 15 are e-commerce (up per cent), automobiles (per cent) and FMCG (13 per cent). "HH durables and BFSI categories also increased their ad spends by more than 45 per cent. FMCG has been the largest contributor in absolute terms contributing as much as Rs. 4,200 crore and accounts for 51 per cent of the total TV spend. e-commerce players grew by 70 per cent and now account for 6 per cent of the market," the report added.
Sam Balsara, chairman, Madison World, said, “If BJP promised achhe din (good days) to all Indians, they have certainly arrived for the Indian television industry. A 21 per cent growth coming on the back of a 14 per cent growth in 2014 and without the elections is quite unprecedented and shows the optimistic outlook of industry in Indian markets and the aggressive stance they are willing to take to protect and grow their market share. The growth is also significant in the light of growing conversations around digital.”