In 2021, total media ad spend grew by 37% to ₹74,231 crore, with fast-moving consumer goods, e-commerce and new-age businesses emerging as the major contributors to growth. The total adex is expected to grow by 20% in 2022 to reach ₹90,000 crore, he said.
“Newspapers reach 65-70% of the NCCS A audience in major cities (according to the latest IRS 2019 Q4 report available). This makes the medium essential for brands to reach premium audiences. The immediacy of the print also makes the medium the fastest way to reach those high-end households who need to communicate quickly with their audiences,” said Sivakumar Sundaram, Chairman of the Executive Committee of Bennett Coleman & Company Ltd, which also publishes The Economic Times: “Local market advertising is very important in the Indian context and print media offers a very profitable solution for local businesses,” he added.
In terms of advertising space, publications in English grew the most, up to 40%, driven mainly by the consumer goods, education and automotive sectors, according to the report published by the group. Madison World Communications. Publications in English accounted for 45% of the total printed adex. With Hindi, the share was 63%.
While advertising space in Hindi publications increased by 30%, Telugu publications grew faster at 37%, Assamese and Marathi increased by 33% each and Bengali publications by 27%.
While traditional media grew by 31%, the growth was 50% for digital media.
Fifteen new-age companies entered the list of Top 50 Advertisers in the past year, according to the Pitch Madison Report. These were Dream 11, Byju’s, PhonePe, Upstox, My11 Circle, CRED, Netmed, MPL, Policybazaar, Unacademy, WhiteHat Jr, Swiggy, Netflix, Coin Switch Kuber and Coin DCX.
FMCG’s share of the global adex fell from 38% in 2020 to 34% in 2021, but the sector remained the largest advertiser. The e-commerce sector has emerged as the second largest category of advertisers, doubling its advertising spend to ₹6,000 crore last year.
On Tuesday, GroupM predicted that total media ad spend in India would grow by 22.2% to ₹107,987 crore in 2022, with digital overtaking TV as the biggest advertising medium with a 45% share of the adex.