When legacy media organisations (advertising agencies, broadcasters and print companies) started to hurriedly build their digital capabilities a few years ago, the writing on the wall was clear that the future would be all about reaching out to consumers through digital platforms. Brands would want to be where their consumers are and that obviously is the digital world. The pandemic fast-forwarded the trend of digital adoption and it's not surprising that 2022 would be the year when digital advertising would for the first time surpass television advertising and dominate. According to Group M's annual This Year Next Year Report (TYNY) on global advertising trends, digital advertising spends in India this year are expected to be ₹48,603 crore (versus ₹36,554 crore in 2021), 33% higher than last year. Television advertising in comparison is expected to grow at 15% to touch ₹42,388 crore.
India's overall ad spends in 2022, as per the TYNY report, is expected to grow by 22%. Digital advertising by the end of the year is expected to reach 45% of the overall ad spends, while TV would have a 39% share, followed by print at 12%. Print advertising is expected to grow by 5% (₹12,667 crore) while out-of-home which was degrowing in 2020, is expected to grow by 85% in 2022 (₹2,036 crore).
The TYNY report has ranked India among the top 10 markets in terms of ad spends. While the US and China are at the top with incremental ad spends of $41 billion and $15 billion respectively, India is at No.9 with incremental ad spends of $3 billion.
Global ad spends as per the TYNY report are expected to reach $850 billion in 2022, 11% higher than 2021. Digital advertising will lead the pack with a 14% growth while TV is expected to grow by 6%. Print advertising de-grew by 1% last year globally and this time round it's expected to degrow further by 6%.
