Exclusive: India’s total AdEx expected to grow at 12.2% in 2024: PMAR ,
India’s total AdEx expected to grow at 12.2% in 2024: PMAR Growth of Digital is projected to be 17%, TV 8% and Print 7%, according to the Pitch Madis
India’s total AdEx is expected to grow at 12.2% in 2024, according to Pitch Madison Advertising Report (PMAR). The much-awaited report was released today.
The Digital AdEx is expected to grow by 17% during the year to close at Rs 46565cr, contributed majorly by video and e-commerce. The report expects TV to grow by 8% in 2024 to reach a total of Rs 35575cr. Print is expected to grow by 7% in 2024.
Forecast for 2024
The Pitch Madison Report 2024 forecasts a 12.2% growth for AdEx in India, while WARC’s global AdEx forecast stands at 8.3% growth. According to the report, growth in H1 and H2 will be very different and post-elections, when the Modi government most likely returns to power with an even greater majority, optimism will run very high in India Inc. and the government will announce a lot of measures or reforms to stimulate the economy. Let us now take a look at individual mediums, and how they might fare in 2024.
Digital – Digital AdEx is expected to close at Rs 46565cr. adding about Rs 7000cr. during the year, contributed majorly by video and e-commerce. While WARC estimates the global Digital AdEx will contribute 75% to the total AdEx, the PMAR report estimates a 42% Digital AdEx share. Digital’s growth is expected to be a modest 17%.
Factors that may aid the growth of Digital AdEx –
- A focus on short-term results
- Dramatic rise in CTV and OTT penetration in the country
- IPL on Digital at a flat cost per 10 seconds basis
