GroupM forecasts 13% growth in adex in 2018
By M4G Bureau - February 14, 2018
OOH adex is expected to increase from an estimated Rs 2,842 in 2017 to Rs 3,389 in 2018, which will be a healthy 15% growth YoY
WPP-owned media agency GroupM in its report This Year Next Year (TYNY), released on February 13, has forecast that advertising expenditure in India is expected to grow at 13% to touch Rs69,346 crore in 2018 over 2017.
The report suggests that India is among the few large markets where all traditional media platforms will grow. Television advertising is expected to grow 13%. Meanwhile, print will witness a modest growth of 4% with increase in ad spends from political parties in the second half of the year owing to 2019 general elections.
The growth will be powered by digital which will contribute 18% to the overall adex.
Cinema, outdoor and radio put together is under 10% of the overall ad spends.
“It will take a while before India starts mimicking the more developed markets where most of the spends have moved to digital,” said C.V.L. Srinivas, country manager, WPP India and chief executive, GroupM South Asia.
OOH adex is expected to increase from an estimated Rs 2,842 in 2017 to Rs 3,389 in 2018, which will be a healthy 15% growth YoY.