MUMBAI: Advertising spends of the country is expected rise 15% to Rs 721.69 billion in 2019 driven by the general elections, cricket World Cup and Indian Premier League, according to Zenith Global Advertising Expenditure Forecast.
The country’s advertising expenditure is expected to close at Rs 626.99 billion for this year, according to the Zenith report.
By 2020, ad spends would be close to Rs 810.06 billion and would hover around Rs 917.42 billion by 2021, according to the forecast.
“2019 is the year of the Indian general elections. These and the state elections will boost marketing spends. Additionally, the cricket World Cup and the Indian Premier League will drive growth,” Zenith Group chief executive officer Tanmay Mohanty stated.
Mohanty added that many parts of the country are experiencing digital transformation, led by mobile, which will accelerate categories such as banking, financial services, healthcare, entertainment and sports, travel and lifestyle.
India is expected to become the eighth largest advertising market by 2021, the report further states.
It notes that the Indian advertising market is expected to grow at 13.5% a year from $9.7 billion in 2018 to $14.2 billion in 2021, entering the top ten for the first time.
The steady growth in global adspend is expected to continue. Global advertising expenditure is forecast to grow 4.5% by the end of this year, boosted by the Winter Olympics, FIFA World Cup and US mid-term elections, according to the Zenith Global Advertising Expenditure Forecast.
