Advertising set to grow 9% in India
TV ads to grow 11%-12% on back of formats, sportsNEW DELHI -- India's advertising industry is set to grow 9% this year, according to a study by media agency Zenith Optimedia, part of French advertising conglomerate Publicis Groupe SA.
The study indicates that the total ad expenditure for India in 2009 was $4.8 billion, projected to reach $5.25 billion in 2010, rising to about $6.4 billion by 2012.
However, the Indian advertising market reacted sharply to last year's economic downturn and grew only by 1% in 2009, but recovery has been swift and India’s advertising industry will outperform most other markets in 2010.
The report has also upgraded its forecast for the global advertising industry, which will grow from 0.9%-2.2% for 2010 and stated that the Indian economy withstood the global slump and grew at 6%-7% in 2009.
Indian TV advertising will show a healthy 11%-12% growth to reach about $2.48 billion in 2010, riding on the digital wave and advertising opportunities offered by new “larger than life” entertainment formats, in addition to sporting properties such as cricket's successful Indian Premier League and the upcoming Commonwealth Games in October.
Newspaper advertising, which grew 5% in 2009, is likely to see 7%-8% annual growth in 2010 to touch revenues of about $2.28 billion.