Advertising spend in India is likely to rise by 11.4 percent to Rs 697 billion in 2019, driven by key events such as the ongoing cricket world cup and the recent general elections, according to a report by the Dentsu Aegis Network (DAN).
The 2019 estimate is up from January's projection of 10.6 percent growth in ad spend, and 10.8 percent in 2018, the report said.
The agency said digital media spend is projected to grow by 32.7 percent to Rs 144.1 billion in 2019, accounting for 21 percent share of the total advertising expenditure.
Television, however, continues to be the dominant force in India, with an estimated contribution of 39 percent to the total ad spend in 2019, it said.
The medium is forecast to expand in 2019 by 9.5 percent to touch Rs 271.4 billion.
"India is at the cusp of a major change... With the expansion on online video via mobile devices, the role of TV is changing and entertainment at one's own pace is becoming the norm," said Kartik Iyer, president of Amplifi India, a DAN Group company.
The Asia Pacific ad spend is projected to rise by 4 percent in 2019 amid lower global growth, the report added.
Starting small, this IIT alumnus' startup has now gone on to help global brands improve custome...
Want to make your startup journey smooth? YS Education brings a comprehensive Funding and Startup Course. Learn from India's top investors and entrepreneurs. Click here to know more.