While the global forecast for advertising expenditure is an 8.5 per cent plunge, media agency ZenithOptimedia’s projection for India shows that the nation is bucking the trend with a positive 7.7 per cent jump despite an economic downturn.
Almost all media, spanning across television, newspapers, radio, cinema, outdoor and the Internet are projected to grow in India.
Magazines, however are projected to record negative growth, dipping quite steeply from Rs 1,142 crore in 2008 to an expected Rs 442 crore in 2009.
Significantly, while the global trend appears to be a steady decline in newspaper advertising, India’s newspaper advertising is projected to grow from Rs 9,102 crore in 2008 to Rs 10,605 crore in 2009.
“India has not been hit as much as the global economy due to a high savings rate, coupled with strong rural demand. As a result, most categories have seen a robust growth in advertising expenditure barring real estate, airlines and some financial categories,” said Pavan Chandra, chief strategy officer, ZenithOptimedia India. Cricket and elections bolstered ad spends in India.
According to the forecast, advertising spends in 2009 will touch Rs 23,025 crore, from 21,380 crore in 2008.
Advertising is expected to reflect that though not with the same pace of growth as the 15-25 per cent it was recording for five years till 2008.