Muristek
Chandigarh, February 17
India will be the fastest-growing market in ad spends among the top 10 markets this year. At present, India is ranked at number nine in terms of size of ad spends.
According to GroupM (media investment company) report 'This Year, Next Year' (TYNY) 2022, the ad spends are estimated to reach Rs 1,07,987 crore in 2022 with digital gaining 45% media share. In the calendar year 2022, the total ad spend is likely to grow by 22% over the previous year.
Commenting on the report, Prasanth Kumar, CEO, GroupM South Asia, said, "The pandemic has pushed the envelope towards digital and has hence topped the pie, with advertisers keen to explore more of it. E-commerce and telecom will drive the economy and we expect FMCG and auto to slowly catch up and contribute towards this growth."
"With the pivot to digital by consumers and companies alike, digital has emerged as the largest medium in 2022 with an estimated share of 45%. It is estimated to grow by 33% in the current year. As digital capabilities enhance and connectivity becomes omnipresent, technology will further poise and change almost every sector of India's economy," said Tushar Vyas, President ndash; Growth and Transformation, GroupM South Asia.
Parthasarathy Mandayam, Chief Strategy Officer, GroupM South Asia, said, "With consumers gravitating towards themes like sustainability and sensitivity, brands are adapting rapidly, and media has the power to lead this change."
Digital to be largest medium: Report
As per 'This Year, Next Year'report, the ad spends are estimated to reach Rs1,07,987 crore in India with digital gaining 45% media shareIn the calendar year 2022, the total ad spend is likely to grow by 22% over the previous yearThe report says e-commerce and telecom will drive the economy, FMCG and auto will slowly catch up and contribute towards this growth