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Indian Ad Market Expected to Grow by 11.4% in 2024

In 2024, the Indian advertising market is expected to witness a growth of 11.4% and reach Rs 1.22 lakh crore. It is anticipated that traditional mediums will make up 54% of all ad spending in 2024, while digital will take up the remaining portion, according to a report by IPG Media brands-owned media investment firm Magna Global. Almost 79% of the total ad spend will come from digital and television, which are expected to be the biggest segments in the year ahead. The report projects that digital ad revenue will increase by 13.8% to reach Rs 56,703 crore, while on the other hand, TV ad revenue will go up by 9.9% to reach Rs 40,079 crore. Meanwhile, India is predicted to enter the top ten markets and rise to eighth place by 2028, according to the report. The country was ranked as the 11th largest ad market in the world as of 2023. 

Source: The Economic Times