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GroupM, the media agency announced their annual futures “This Year, Next Year” report (TYNY) 2021 which forecasts that India will be the second-largest growing country in terms of annual advertising expenditure. It will be the sixth-largest when comes to contributing in the global ad spend. Along with that, the digital advertising spend is going to be the maximum amongst all kinds of advertising budgets.
In the calendar year 2021, India will be the second-fastest-growing advertising market, in the top 10 countries of the world. Last year saw a great dip in the global ad spend due to the lowering down of businesses globally but in 2021, budgets have started increasing in the marketing spend for companies across the globe. India is likely to jump back to the 9th rank in global ad spend as compared to last year when it had fallen to the 10th rank.
Prasanth Kumar, CEO – GroupM South Asia said, “We have witnessed a month-on-month upturn in the industry starting Q3 last year and we are quite optimistic about the revival that 2021 will see. With the gradual easement of the lockdown backed by seasonal spends and big-ticket events like IPL, we expect 2021 to continue to build on that momentum. While the global ad spends are estimated to see a rise of 10% in 2021, digital is expected to take 67% of ad spends. With the help of technology, marketers have adapted to pandemic-proof ways by constantly innovating, staying relevant and offering digitally charged solutions to brands,” he
added further.
As per the digital report, the share of digital ad spend will be around 40% for 2021. Digital was the only medium to witness a gain of USD 27 billion globally in 2020 and will continue to increase due to the rise in digital dependency and changing consumer patterns. Not just FMCG and e-commerce having the highest share of ad spend but auto, telecom, retail, durables will also be the growth drivers of India ad spend in 2021 as per the report.
09-03-2021
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