India expected to be world's 10th largest advertising market
New York-based IPG Mediabrands revealed that India's rising advertising market had aced to the 10th spot amongst global advertising markets. Up until last year, Italy had been pitched as the tenth biggest advertising ad market, the company said in a report. The advertising market will be able to see better revenues from digital medium, where growth outlook is pitched at 28%.
A glance at India's advertisement market
India's burgeoning advertising market is growing by the day. Its digital footprint is expected to cross the $3.8 billion mark over the next three years. Initially starting out as a small-scaled business, India's advertising market has now become a full-fledged multi-sector industry. Reports suggested that revenues from online advertising is set to touch $1.5 billion in five years.
Delhi pitched as India's advertising hub?
With the shift in business and trade, Delhi is now emerging as one of Asia's biggest advertising hubs, and India's biggest. Analysts see that this could be due to some of the big spenders such as Maruti, Nestle and Pepsi being located there.
Will the new GST have an impact?
"FMCG sector, owing to deep penetration, will take some time to settle with the uniform tax structure. Digital ad spends estimated to touch Rs. 100 billion with mobile advertising gaining significant ground is the highlight of 2017," said S. Venkatesh, Magna India's executive vice-president.
