BackGroupM revises 2014 ad growth from 11.6% to 12.5%
Advertising expenditure on TV as a medium in India is expected to see a rise of 14.8%, and for print, the growth will come from government spending and retail advertising
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Riding on the improved sentiment in the country, GroupM, a leading media buying agency, has revised its estimates of the annual advertising expenditure growth for 2014 from 11.6% to 12.5%. The advertising expenditure revision is part of a global report called This Year, Next Year (TYNY) 2014.
Globally, GroupM has also released its revised estimates for Brazil and Russia, which remain among the fastest-growing advertising markets. Advertising expenditure on television as a medium in India is expected to see a sharper rise of 14.8% compared to 12% projected earlier, the report said.
Digital media continues to expand at 35%. In the print medium, regional publications and local advertisers are projected to lead the growth for dailies. For print, the growth will come from government spending and retail advertising.
“After a cautious start to the year, the overall sentiment in the country is positive following the general elections and a new stable government," said C.V.L. Srinivas, chief executive officer of GroupM South Asia, explaining the revised estimates for advertising expenditure. Retail companies, especially e-commerce players, are investing heavily in advertising over mass media along with spends on digital media. “Industries like FMCG (fast moving consumer goods), automobiles and telecommunications are expected to increase spends given the competitive pressures," Srinivas said.
This Year, Next Year is part of GroupM’s media and marketing forecasting series drawn from data supplied by holding company WPP plc’s worldwide resources in advertising, public relations, market research and specialist communications.
GroupM serves as the parent company to WPP media agencies including Mindshare, Maxus, MEC, MediaCom, and Motivator in India. WPP’s media communications agencies are in the business of trading, content creation, sports, digital, and proprietary tool development.
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