Indian ad spend is estimated to grow by 22% to be at Rs 1,07,987 crore for the calendar year 2022, according to the GroupM futures report ‘This Year, Next Year’ (TYNY) 2022. Interestingly, with the movement towards digital medium particularly driven by the pandemic, digital is estimated to grow by 33% in 2022 and emerge as the largest medium with an estimated share of 45%. Whereas, TV is expected to grow by 15% with an estimated share of 39%. Print is expected to grow by five percent while OOH, radio and cinema are likely to register a growth of 85%, five percent and 467% respectively.
Global ad spend is expected to grow by 11% to be at $850 billion, with the share of digital at 66%. According to the report, India is to be the fastest-growing market among the top 10 global markets and retain its ninth rank in 2022. “The pandemic has pushed the envelope towards digital and has hence topped the pie, with advertisers keen to explore more of it. Ecommerce and Telco will drive the economy, we also expect FMCG and auto to slowly catch up and contribute towards this growth,” Prasanth Kumar, CEO, GroupM South Asia said at the launch of the TYNY report.
For Atique Kazi, president – data, performance and digital products, GroupM India, marketers will have to bring together innovation, intelligence and integration in their strategy to win on digital. “In 2022; we will also see addressable TV coming to India in some scalable form and connected tv surge with smart TV sales and new fibre/broadband connections will be on the rise. Focusing on eCommerce, performance marketing, outcome-based media, and addressable data is winning formula in 2022.”
GroupM also shared some of the top trends that will shape the Indian consumer and therefore industry. The trends presented were around the shifts in organisational structures, consumer sensitivity and sustainability, digital experience, data, commerce, creator ecosystem, growth of sports business, use of technology, performance marketing, addressable TV and evolution of offline media.
As per Parthasarathy Mandayam, chief strategy officer, GroupM South Asia, with consumers gravitating towards themes like sustainability and sensitivity, brands are adapting rapidly, and media has the power to lead this change. “Flexible, specialist and distributed teams are the order of the day and this trend will be further enhanced with the arrival of 5G. The emphasis on performance marketing has further accelerated and is at the very core of marketing. Intelligent and responsible leverage of first-party data will be critical for brands and marketers in driving this.”
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