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Report: Indian Advertising To Increase 16.8% In 2023

The report also reveals that 36 per cent of advertising market share represents TV advertising, is expected to grow 10.8 per cent this year and continue growing double digits, driven by strong growth in both traditional and connected TV

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According the 'This Year Next Year 2022' report of GroupM, the global advertising in 2023 is anticipated to grow by 5.9 per cent. However, the prediction for the expansion of Indian advertising revenue growth for 2023 is expected to increase to 16.8 per cent, which was 15.8 per cent for 2022.

The report states, “This growth is led by pure-play digital advertising, which accounts for the largest share (48.8 per cent) in 2022 and is expected to continue rising above pre-pandemic levels. Retail media in India is forecast at USD 551 million in 2022 and is expected to nearly double by 2027.”

The report also reveals that 36 per cent of advertising market share represents TV advertising, is expected to grow 10.8 per cent this year and continue growing double digits, driven by strong growth in both traditional and connected TV.

On the global numbers, the report says, “We now expect global advertising to grow 5.9 per cent in 2023, behind the IMF’s expectation for global inflation of 6.5 per cent and a downgrade from our 6.4 per cent June estimate. Retail media, one of the fastest growing segments of the advertising industry, is now estimated to reach USD 110.7 billion dollars in 2022, an upgrade from our September forecast of USD 101 billion.”

In 2022, television is predicted to continue returning to pre-pandemic levels, but more slowly, with a 1.7 per cent expected global growth rate (excluding U.S. political advertising). This year, the worldwide OOH will increase by 2.2 per cent (globally, excluding U.S. political spending), or 18.1 per cent excluding China. Except for U.S. political advertising, audio is anticipated to expand 3.8 per cent globally in 2022 before slowing to 1.3 per cent growth in 2023.

"After a brief respite in 2021, traditional print continues its decline of 7.4 per cent in 2022. Print-based media will decline by 3.7 per cent when including digital extensions, which are forecast to make up nearly half of total revenue this year and more than three-quarters of revenue by 2026,” mentions the report.

 


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