Media & Advertising See Happy Days In India While Market Continues To Grow At 14.6Pc: Sam Balsara, Chairman, Madison World
The Advertising and Media industry in India gears up to grow the transformational market. The Pitch Madison Advertising Report 2019 presented by ABP News highlighted opportunities that can further expand these sectors. Adex is said to grow to 16.84% (INR 70,888 crores) according to key highlights from the reports shared by Sam Balsara.
"2017 was a bad year for growth adex post demonetization and the implementation of GST. The growth which during that year was recorded at 7.4% was the lowest in 5 years. Fortunately, happy days are here again and the market today has grown to 14.6% (INR. 60,908 crores) which is also the highest addition in 1 year over the last decade. Television continues to be the largest contributor to the advertising pie by 38%, Print industry too continues to grow at 4% year on year while television continues to be the largest contributor to the Advertising pie by 38%. In 10 years the Indian Advertising market has grown to Rs. 60,908 crores from Rs. 19,582 crores back in 2008", said Sam Balsara, Chairman, Madison Group while pointing out the key highlights from the Pitch Madison Advertising Report.
At the event, he also gave importance to Digital media and the impact it has had on businesses in a short span. Digital is the 3rd largest advertising medium in the country with 19% of the market share below print (32%) and TV (38%).
Some of the growth forecast stated by Sam predicted a 16.84% growth (INR. 70,888 crores) in adex within the current year. He commenced his address by assuring the audience of better days to come to the industry.
The advertising report was unveiled on the 13th of February, 2019 at the ITC Grand Maratha, Mumbai.
