Digital overtook TV to become the largest medium with 38pc Adex Share in 2022. Total Adex has grown by 21pc in 2022 to reach Rs. 89,803 crores.
In 2023, overall Adex is expected to grow further by 16pc and will reach Rs. 1,04,230 crores, according to the Pitch Madison Advertising report which was unveiled today in Mumbai.
Digital:
Digital grew by 35pc in 2022, on top of a 50pc increase in 2021, to reach Rs. 34,405 crores and has emerged as the largest medium in Adex with a 38pc share, overtaking TV. In 2023, Digital is expected to grow by 25pc to reach Rs. 43,036 crores and increase its share to 41pc of Adex.
Television:
In 2022, TV registered a modest growth of 9pc to reach Rs. 30,662 crores. In 2023, TV Adex is expected to grow by 9pc to reach Rs. 33,522 crores.
Print:
Print Adex grew by 11pc to reach Rs. 18,470 crores in 2022 and it’s expected to grow at 9pc in 2023, to reach Rs. 20,133 crores.
Radio:
Radio Adex has grown by 17pc to reach Rs. 2,032 crores in 2022 with 2pc Share in total Adex. In 2023, the medium is expected to grow by 20pc to reach 2438 crores.
OOH:
In 2022, OOH Adex has registered a high growth of 68pc, taking the industry to Rs. 3,666 crore and surpass its pre-Covid level and it’s projected to grow by 12pc to reach 4106 crores in 2023.
