While, the Advertising spend forecasts in Asia Pacific show continued growth of +3.9% in 2016 and +4.2% in 2017, The Advertising spend forecasts in India remains at Double-digit growth rates with +12.0%
Forecasts continue to be extremely bright in India, the highest spending and fastest growing advertising market globally. Spend is expected to accelerate by +12.0% in 2016, a buoyant year with multiple media events taking place in the market, including the T20 Cricket World Cup, the Indian Premier League (IPL) as well as the state elections.
Retaining its position as one of the fastest growing world economies with real GDP growth of +7.5% in 2016, the positive advertising outlook for the Indian market is expected to continue in 2017, growing further by +13.9%. Additional media-related statistics include:
- India is one of the few large markets where all traditional media platforms still show positive growth. Holding the highest share of spend of 38.5% in 2016 and 38.0% in 2017, TV is forecast to grow by +12.3% in 2016 and +12.5% in 2017 driven by investment from FMCG brands and eCommerce companies.
- Newspapers still represent the second largest media type with 35.7% share of total spend in 2016, and this is expected to continue to grow by +10.5% this year and +10.8% in 2017.
- As in other markets, Digital is the fastest growing media type in India (+31.5% in 2016 and +39.6% in 2017), but its share of spend (8.9% expected in 2016 and 10.9% in 2017), still remains relatively low compared to the resilient traditional media.
- India is gradually transitioning from a “mobile first” to a “mobile only” country. Mobile spend is forecast to grow by +27.2% in 2016 and +35.1% in 2017.
India has consistently maintained as steady year over year growth in the past couple of years. In the year 2013 the growth stood at 8.1% and in 2014, it has grown to 8.7% and in 2015 it surged to 11% and the same is expected to grow at 12% in 2016 and at 13.7% in 2017.