Advertising spends to rise 15 per cent in 2019 with elections, world cup: Report

The country's advertising expenditure is expected to close at Rs 62,699 crore for this year.

Published: 03rd December 2018 09:17 PM  |   Last Updated: 03rd December 2018 09:17 PM   |  A+A-

Image used for representational purpose only

By PTI

MUMBAI: The advertising spends of the country is expected rise 15 per cent to Rs 72,169 crore in 2019 driven by the general elections, cricket world cup and Indian Premier League, according to Zenith Global Advertising Expenditure Forecasts.

The country's advertising expenditure is expected to close at Rs 62,699 crore for this year.

It noted that given a significant part of the population is below 30 years of age, there is likely to be continued consumption-led growth with less reliance on export-led momentum, which should boost businesses across the board, ad investments and government initiatives.

However, the depreciation of the rupee and oil price volatility this year impacted disposable incomes, though the consumer confidence continues to remain relatively high.

"2019 is the year of the Indian general elections. These and the state elections will boost marketing spends.

Additionally, the cricket world cup and the Indian Premier League will drive growth," Zenith Group chief executive officer Tanmay Mohanty said.

He added that many parts of the country are experiencing digital transformation, led by mobile, which will accelerate categories such as banking, financial services, healthcare, entertainment and sports, travel and lifestyle.

India is expected to become the eighth largest advertising market in 2021, it said.

It noted that the Indian advertising market is expected to grow at 13.5 per cent a year from USD 9.7 billion in 2018 to USD 14.2 billion in 2021, entering the top ten for the first time.

Zenith that is owned by French advertising group Publicis said that India is the stand-out growth market and has huge potential for further growth, with advertising taking up just 0.3 per cent of GDP, less than half the Asia Pacific average of 0.7 per cent.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp