Mumbai: GroupM India released its TYNY report today, highlighting the advertising expenditure forecast for 2023. The agency predicts INR 20,000 crores of incremental ad spends in 2023 compared to 2022. This highlights the continued growth and potential of the Indian advertising industry and the opportunities it presents for advertisers.
The report highlights a 15.5% increase in ad spends in India, reaching INR 1,46,450 crore in 2023. The report also highlighted the fact that digital continues to be the largest medium in India with the share of ad spends in 2023 estimated to reach INR 82,542 crores which amounts 56% of the overall AdEx of the country, which is an increase of INR 13,900/- when compared with the previous year.
During 2022 the share of Digital ad spend stood at INR 68642/- crore which 54% of the overall share in 2022 against 53% (INR 57,846 crore) in 2021.
Television:
Digital happens to be the only medium which is witnessing massive growth while other mediums like TV and Print witnessed drop. The share of TV in AdEx fell from 31% to 30% while the AdEX on TV in 2023 in estimated to reached INR 43,227 crore against INR 39,578 crore in 2022 while the same stood at INR 36,929 crore in 2021. Despite drop in share of AdEx, TV is estimated to witness incremental Ad spend to the tune of INR 3649 crore in 2023 due to over growth in AdEx.
Print:
The Print media has witnessed a drop of one percent, hitting 10% share of the overall Ad spend in 2023 amounting to INR 14,520/-. an increase of INR 1001 Cr from the INR 13519 crore in 2022.
OOH, Radio and Cinema:
OOH is likely to witness one percent increase by touching 2% share of overall AdEx in India that amounts to INR 3,400 crore in 2023 against 2595 crore in 2022.
Radio will remain with one percent share while its Ad Spend is expected to cross 1,951 crore in 2023 against 1818 crore in 2022.
Cinema is expected to witness growth in the post pandemic world with the AdEx estimated to reach INR 810 crore against 665 crore in 2022.
