Polls to loosen advertising purse strings
As election is around the corner, two of the country’s top media agencies
–GroupM and Zenith predict that the advertising expenditure (adex) is going to soar at the rate of 14-15%, with the marketing effort that political parties are expected to put ahead of the elections.
Sources from top advertising executives have indicated that the expenditure level for 2019 polls will be double of what it was five years ago. (₹ 15billion to ₹30Billion).
Social media would account for at least one fourth of the adex.
Tanmay Mohanty, group chief executive officer at Zenith confirmed that “India was experiencing a digital transformation, led by mobile. Digital will continue to accelerate both in reach and consumption.”
Television will be on an upward curve with respect to the economy, while radio will be digitalized aggressively in response to the steaming services followed by Cinema and Out of Home (OOH), Print media will thrive on regionalization.”
Adding to it, Cricket World Cup and Indian Premier League (IPL) will also contribute to adex.
“Group- M’s Future’s Director Adam Smith said “Even though India’s ad economy is a mere quarter of the others combined, its 14% adex growth is rooted in 7% real consumer spending growth.”
Apart from China, Us, India, seven more countries such as Japan, the UK, the Philippines, Canada, Australia, Brazil, and Russia have joined hands for adex growth 2019.
In conclusion, we find that Digitalization is the key factor and adex
will help India to grow globally.
Shruti Girish29 Posts
I am very fun loving girl and I like to explore new things. Currently pursuing PGPM from IBS Mumbai and I want to excel in my field and specialize in marketing.