Indian ad revenue estimated to grow at 10.2% in 2024: GroupM
GroupM’s This Year Next Year (TYNY) report says that digital will contribute 57% of ad revenue this year.
GroupM India has released its annual This Year Next Year (TYNY) report. The overall ad revenue is expected to reach ₹1,55,386 crore in 2024, with an incremental ₹14,423 crore compared to 2023.
Prasanth Kumar, CEO, GroupM South Asia said, “Despite facing macroeconomic challenges, we remain optimistic about the industry. At 10.2%, India will be the fastest-growing ad market. 2024 will also see an upside from the spending leading to the General Elections. Digital particularly retail media and digital extensions of TV are expected to drive the growth. SME continues to fuel the growth. Linear TV is at a point of inflexion and needs to be enabled with rapid deployment of technology to stay relevant.”
Digital will take a 57% share of ad revenue in India, followed by TV at 29% and print media at 10%.
Ashwin Padmanabhan, President - Investments, Trading, and Partnerships, GroupM — India said, “The advertising landscape is evolving with the fragmentation of search, rapid rise of influencer marketing and retail media. Reflecting this, at ₹88,502 crores of the overall ₹1,55,386 crore, digital will contribute to 57% of all ad revenue."
Here are the other trends that the GroupM TYNY report unveiled for 2024:
(Edited by : Pihu Yadav)
First Published: Feb 13, 2024 3:59 PM IST
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