If leading media services conglomerate GroupM revised annual advertising expenditure (AdEx) estimates for 2014 are to be believed, the 'achche din' would surely set in. The AdEx estimate has now been revised upward to12.5% from 11.6% released earlier this year. The AdEx revision is part of the global report called the 'This Year, Next Year (TYNY) 2014'. GroupM globally, also released its revised estimates, India, Brazil and Russia remain among the faster-growing ad markets.
Speaking about the industry sectors contributing to the revised growth, CVL Srinivas, CEO, GroupM South Asia said: "After a cautious start to the year, the overall sentiment in the country is positive following the general elections and a new stable government. One of the sectors that is adding to the growth story in India is retail. Specifically e-commerce players that are investing heavily in above the line advertising along with digital media. Industries like FMCG, auto, telecom and BFSI are expected to increase spends given competitive pressures and clear policies."
Medium-wise, television spending is set to grow to 14.8% as against the previously predicted 12%. Digital media continues to show the maximum growth with 35%. In the print medium, regional publications and local advertisers are projected to lead the growth for dailies. Government spending and retail will continue to increase spending in print.
This Year, Next Year, is part of GroupM's media and marketing forecasting series drawn from data supplied by holding company WPP's worldwide resources in advertising, public relations, market research, and specialist communications.
—By Arrangement with MxMIndia