Indian ad spends rises to 23% in 2021: Reports
Before the arrival of the pandemic, ad spends were estimated to see a 10.7% growth that is INR 91,641 crore.
Expenditure on advertising across all media platforms will grow up by 23.5 percent in 2021 in India to INR 80,123 crore after a stark 21.5 percent decline in the year 2020, which was pandemic-stricken, a media buying agency stated on Tuesday.
The CEO of the agency, GroupM South Asia, Mr. Prasanth Kumar, claimed that the estimates were realistic rather than optimistic and that the spending would still be lower to nearly INR 83,000 crore in 2019.
In the year 2020, before it was struck by pandemic, the agency had estimated a 10.7 percent increase in ad spends for the year to INR 91,641 crore. This made India slip one place below in the global list of ad spends at the tenth position but growth in the year 2021, would help to regain its previous spot. The agency also added that from a share of incremental spending, the country would reach the sixth spot.
The whole world is seeing an increment in the digital news, the ad spends in India have seen incremental spending on televisions, etc. saying that print would still hold 16 percent of the overall shares. Against the 90 percent incremental ad spends for digital all over the world, India’s digital will have a 40 percent share.
The agency has cited upward growth on monthly basis and the momentum would continue in 2021 with several events such as the IPL, easing lockdown measures and seasonal spending.