India is the second largest growth market for TV advertising, according to the Technology, Media and Telecommunications Predictions for 2017 that was released by consulting major, Deloitte, today.
At a growth of 74 per cent in the period of 2011-2017, advertising spends in India were 10 percentage points ahead of the often compared market China. Only Argentina with a growth of 79 per cent was ahead of India.
This according to Deloitte, was despite the effect of demonetization that has hit the media business, with top spenders limiting their ad spends in the third quarter (Oct-Dec 2016), which are the peak advertising months. The effects of demonetization will continue in this quarter as well (January-March 2017). “Having said that, advertising expenditure will continue to grow, leaving behind the temporary setback of demonetization,” says the report.
Overall, the advertising expenditure in India is expected to grow at 11.2 per cent to reach INR 543.44 billion (INR 54,344 crore). While TV advertising is expected to grow at 11 per cent, print will grow at 7.6 per cent while outdoor, radio and cinema are expected to grow in the range of 7-12 per cent. Digital as a medium continues to be the fastest growing medium in the country, but has a low share of spending. “Television spends are the foundation of the media industry,” says the report.
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