Ad spends in India to rise 15.5% to ₹1.46 lakh crore in 2023: GroupM TYNY report
- Predicts ₹20,000 crore of incremental
ad spendsin 2023 compared to 2022.
- The launch and expansion of 5G services beyond top metros, combined with affordable smartphones, is expected to drive ad spend growth.
Indiamoves up to the 8th position globally in ad spends and continues to be the fastest-growing market in the top 10 markets, the report said.
AdvertisementAd spends in India will rise by ₹20,000 crore in 2023 compared to a year ago, predits GroupM, a media investment company in its report titled This Year Next Year (TYNY).
This highlights the continued growth and potential of the Indian advertising industry and the opportunities it presents for advertisers. The report highlights a 15.5% increase in ad spends in India, reaching ₹1.46 lakh crore in 2023.
India moves up to the 8th position globally in ad spends and continues to be the fastest-growing market in the top 10 markets worldwide, the report said.
“Indian adex (ad expenditure) will be the fastest growing globally at 15.5% supported by robust macroeconomic conditions. Digital, at 56% of all advertising spends and growing at 20% over last year, is driving the growth of adex. India stands out globally with all mediums expected to grow with TV, print and radio growing at high single digits! We see 2023 panning out stronger as we move into the second half of the year and are confident of the Indian adex staying on course to grow as projected,” said
The launch and expansion of 5G services beyond the top metros, combined with affordable smartphones, is also expected to drive ad spend growth.
The report mentions several exciting emerging trends for 2023 that will impact how brands engage with consumers and drive growth. Key trends include – moving towards attention planning, rise in retail media, new dimensions of omnichannel, democratisation of commerce with
ONDC is a non-profit company established by the Department for Promotion of Industry and Internal Trade of Government of India to develop open e-commerce.
Popular on BI
- Billionaire investor Mark Mobius says he's been able to get his money out of China, but investing in the country is still a 'dilemma' amid national security laws
- The Carnival cruise passenger who went overboard and remains missing was on his first cruise and it became his 'happy place,' his fiancée said
- Elon Musk told Chinese Tesla workers in a late night speech that their hard work 'warms my heart' — 6 weeks after some complained about bonus cuts
- Major train accidents that India witnessed in last 15 years
- Odisha rail crash: Rescuers try to raise buried coach, death toll at 238
- Largest road networks in the world – India beats China to take the second spot
- Manoj Bajpayee joins the league of on-screen lawyers like Pankaj Tripathi, Shriya Pilgaonkar & more
- List of famous things to buy in Lonavala