Indian ad spends to grow by 22% in 2022 to reach Rs 107,987 cr: GroupM TYNY
GroupM’s annual report on the advertising and media industry, ‘This Year Next Year’ 2022, highlights the recovery seen as India and the world emerge from the severe Covid disruptions of the last two years. According to the report, Indian ad spend is estimated to see a growth of 22% in 2022 to reach Rs 107,987 crore, over 2021, which recorded ad spend of Rs 88,334 crore. Ad spend in 2022 is expected to grow by 25% over the pre-Covid period in 2019 (Rs 86,067 crore).
The GroupM TYNY 2022 report further states that India will continue to be the fastest growing market among the Top 10 markets, and is ranked 9th globally, while in terms of incremental ad spends, India is ranked 5th in 2022. India is expected to add an incremental Rs 19,600 crore of ad spends during the year.
Global ad spend is pegged to grow by 11% in 202 to reach $850 bn. As per the GroupM TYNY report, Digital will command a share of 66% of the global ad spends in 2022.
In India, too, Digital is pegged to become the largest medium in 2022, garnering ad spends of Rs 48,603 crore, compared to Rs 36,544 crore in 2021. Television is not far behind with ad spends expected at Rs 42,388 crore in 2022, as against Rs 36,929 crore last year.
With Cinema halls allowed to reopen after the third wave impact fades and with several big movies – both Bollywood and South cinema – lined up, Cinema is expected to see the steepest climb in ad spends at Rs 635 crore in 2022, a jump from Rs 112 crore in 2021.