Indian Ad Industry set to grow at +12% in 2016: Carat study

Carat Ad Spend Report is out. The study predicts a 4.7% growth in advertising globally in the year 2016 – that is to the tune of US$ 25 billion. In the current year the predicted growth is 4.0%. Growth in Asia Pacific is predicted at 4.1% for the current year, quite in tune with the global figures.

India is tipped to be the fastest growing market in Asia Pacific and next only to Latin America from a global perspective.  India advertising industry is pegged to grow at +11.0% in 2015 and +12.0% in 2016. The election of a pro-business government in 2014 and the revival in investment, the ICC Cricket World Cup, and India’s highest growth rate among BRIC economies are some of the key factors impacting Indian advertising industry positively. Ashish Bhasin, Chairman & CEO Dentsu Aegis Network - South Asia says, “Carat’s latest estimate show that in India we should see a healthy growth of 11% in Ad spends. We see the scenario improving even further next year and hence have revised the 2016 growth rates to 12%”. 

Interestingly, in spite of a number of debates, newspapers are second most popular medium in the country. However, newspapers are the third most popular in 9 of the 13 top spending markets, including the US, Japan and UK. In 11 of the analysed 59 markets it continues to be the leading media. These markets include markets in the Middle East & North Africa UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain, Malaysia, Singapore and Hong Kong.