India overtakes UK to reach number four in advertising spends
According to Zenith’s Advertising Expenditure Forecast, the Indian advertising industry will close at Rs 53,918-crore in 2017. A report in December last year had predicted advertising spends in the country to be Rs 54,344-crore at the end of this year. The drop in the growth has been attributed to demonetisation, that was implemented in India in November 2016. The report expects adex for India to reach Rs 58,422-crore by the end of 2018, registering a growth of 8.4%.
Growth rate for television is pegged at 9% while newspapers will grow at 5%. Radio will grow at 10%, while cinema and out of home (OOH) will grow at 5% respectively. According to Zenith, India has gained a position to reach number four in the ‘top ten contributors to advertising spend 2017-2020’. It has overtaken the UK and stands behind USA, China and Indonesia. Between 2017 and 2020, global advertising expenditure is expected to increase by USD 72 bn in total. The US will contribute 27% of this extra advertising expenditure and China will contribute 20%, followed by Indonesia, India, the UK and Japan, which will contribute 4% each.