Sigh Of Relief For Media Industry As Report Estimates Ad Earnings Of 80,123 Cr In 2021

by GoNews Desk 2 years ago Views 17503

Sigh Of Relief For Media Industry As Report Estima
After witnessing a 21.5% decline in ad spends in 2020 due to the coronavirus pandemic, the Indian ad industry is expected to see recovery in 2021 with ad investments expected to reach Rs 80,123 crore, which is a 23.2% growth over 2020 and 3.35% growth over 2019 ad expenditure of Rs 82,904 crore, as per the GroupM futures report ‘This Year, Next Year’ (TYNY) 2021.

According to the report, the expenditure on television ads is estimated to increase by 18% in 2021 to Rs 35,914 crore. In 2020, it was down by 14% to Rs 30,436 crore. Similarly, digital media is also set to make a big leap in 2021 with a 28% increase. Digital advertising spending is expected to reach Rs 27,700 crore in the same year.
Indeed, 2020 was a nightmare for print, radio, outdoor advertising, audio, and cinema in terms of earnings. For example, print, the newspaper-magazine medium, which was the third-largest advertising medium, shrank 43% to Rs 10,350 crore. This was the time of the Corona era when digital media overtook print media for the first time in the matter of advertisements.

According to a study by the Advertising Standards Council of India (ASCI) released about 3 months ago, TV (94%) became the leading medium in terms of advertising consumption. This was followed by Digital (82%), Print (77%), and Radio (29%). But 2021 is expected to be a good year for print media. According to this report, advertising spending is expected to reach Rs 12,731 crore with an estimated growth of 23% in 2021.

Digital was the only medium worldwide to generate $27 billion in profits in 2020. This report claimed that digital growth will continue to skyrocket due to increasing digital dependence and changing consumer patterns. The report expects FMCG, e-commerce, Auto, Telecom, Retail, and Durables to be growth drivers of ad spends in 2021.

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