India’s total ad spends are estimated to touch Rs 107,987 crore this year which reflect an estimated growth of 22% for the calendar year 2022 and makes India the fastest-growing market among the top 10 global markets. India is ranked 5 on incremental ad spend for 2022, GroupM’s latest ‘This Year Next Year’ 2022’ stated.
In 2022, digital ad spends in India is estimated to grow by 33 percent 2022 and is projected to touch Rs 48,603 crore. Digital will emerge as the largest medium with 45% share and TV will enjoy a growth rate of 15 percent with ad spends projected to Rs 42,388 crore.
Addressable TV becomes mainstream With Smart TV, TV Advertising will become smart. From smartphones to smart TV’s; the Indian market is seeing a massive shift in how households are replacing their living room colour tv box with internet-enabled Smart TV. By end of 2022, 12% of Indian TV households are expected to have a smart TV, truly connected to broadband and watching on-demand broadcast-quality content either freemium, avod or subscription-based. Marketers and Agencies will demand the best combinations of TV and Connected TV plans depending on the targeting.
The Print, Radio, OOH, and Cinema medium which was heavily disrupted due to the outbreak of the pandemic is expected to grow in the year 2022. The ad spends in Print declined by 43% in 2020 and showed a growth rate of 17% and ad spends stood at Rs 12,067 in 2021, in 2022 the print medium is expected to grow by 5% and is projected to touch Rs 12,667 crore. Radio is projected to Rs 1,657 crore in 2022. OOH is expected to register an 85% growth and is projected to touch Rs 2,036 crore in terms of ad spends.
Cinema advertising was severely affected due to the constant lockdowns by the Central and State governments which forced them to shut down the film theatres for around 2 years. With the 3rd wave of pandemic settling and the government has removed restrictions, Cinema ad is going to witness a resurrection and is projected to touch Rs 635 crore – a 467 percent growth.
The dramatic shift in media consumption behaviour with simultaneous use of multiple screens is leading to a rapid evolution of what used to be known as “Offline media”. The growth in the OOH industry will largely be powered by Digital OOH, which is currently at 5% of all OOH but projected to grow to 25% over the next few years. This is further accelerated by the rapid expansion in infrastructure – airports, metros, Tech parks, and the return to mobility.
Print networks will further leverage their core strength – high-quality content – by expanding their digital presence. Moving beyond web editions and apps, the industry will see more podcasts and usage of AR in delivering immersive content.
Radio is also undergoing a major evolution with social integration, podcasts, and phygital events.
“We are also seeing a significant evolution in the business models with outcome-linked accountable deals – while this started with Print, it is now extending to all other offline media,” the report stated.
Commenting on the report, Sidharth Parashar, President – Investments and Pricing of GroupM India said, “The Year 2022 will be a landmark year, crossing 1Lac crore mark of total ad-spends in India and would witness growth in ad-spend across media. While digital is set to take the larger pie, we are expecting a noteworthy revival for OOH & cinema too after a tough period. Advertising on e-commerce, the rise of influencers and short format videos along with OTT has witnessed growth in 2021, which will continue in 2022. The pandemic has taught important lessons to brands to be present where consumers are focused, and this has also resulted in brands willing to modify marketing models as well as media-mix to reach out to a larger consumer base.”
