According to Dentsu’s India Digital Report 2023, the Indian advertising industry is expected to grow at a rate of 15.07% and reach Rs 1,13,575 crore by 2024.
The report further stated that the digital advertising industry in India is valued at Rs 29,784 crore, having grown by 39.5% in 2021, and is projected to reach Rs 51,110 crore with a 31% growth rate by 2024.
Television has the largest advertising spend with 40% share, followed by digital media with 35% and print media with 21%.
By 2023, digital media is expected to surpass television in advertising spend. FMCG and e-commerce account for the largest portion of advertising spend, with 30% and 18% respectively.
Digital media spends is driven by social media with a contribution of 30%, followed by 28% from online video and 23% from paid search. The spend on online video is expected to grow rapidly and be at par with…
