Mumbai: Forecasts double-digit 2019 growth of 11.4% to reach INR 696.9 billion (up from the 10.6% forecast in January and 10.8% growth in 2018) with the Cricket World Cup putting growth on the front foot. Lok Sabha Elections were another driver to increased spends in 2019. The Digital media spend is forecast to grow by 32.7% in 2019 to account for INR 144.1billion, making up 21% share of total spend. Infrastructure has propelled the growth in digital consumption. TV continues to be the leading media in 2019 and will contribute 39% share of total spend. TV is however seeing a drop in share over the years moving form a 39.6% share to a projected 37.9% share in 2020.
Digital on the other hand is expected to continue on its growth part and could overtake newsprint by 2020. Despite digital growth, TV continues to be dominant as it enjoys unmatched share of audiences. With 38.9% allocation of advertising spends, TV is forecast to expand in 2019 by 9.5% to reach INR 271.4 billion.
Speaking on the report, Kartik Iyer, President, Amplifi India said, “India is at the cusp of a major change. We are as of today seeing significant churn in the media consumption habits which is therefore driving change in ad spends. With the expansion on online video via mobile devices, the role of TV is changing and entertainment at one’s own pace is becoming the norm. This is driving media owners to relook at their product and distribution strategies.”
Some of the report’s other key findings include:
- Digital continues to power global ad spend growth and is forecast to grow 11.5% in 2019 and to reach US$249.7 billion and 41.8% of global share.
- Mobile is the fastest growing digital platform with the increasing consumption of video on mobile – from Instagram Stories, Tiktok, and Snapchat to Youtube and VOD – powering this growth.
- Majority of growth in Australia will come from Digital and Video channels. Digital is expected to increase by 6.8% in 2019 representing roughly half of total media spend.
- E-commerce is growing consistently and strongly in China, taking the biggest share within Digital. Digital is still the biggest driver of growth in total ad spend in China with the biggest share (63.6%) and growth rate.
- India is forecast to see double digit growth (11.4%) in 2019 with the Cricket World Cup putting growth on the front foot. Despite digital growth, TV continues to be the leading media accounting for 39% of total ad spend.