GroupMâ€™s latest report titled â€˜This Year Next Year Worldwide Media Forecastâ€™ says advertising on digital has overtaken print in the year 2019 in India. While print (newspaper and magazine) contributed $2,616 mn to the overall ad spend this year, digital has touched $3,183 mn. The share of print is 21.9% compared with digitalâ€™s share of 26.4%.
In terms of growth over the year 2018, newspapers registered a growth of 2.3% and magazines witnessed a degrowth of 10%. Digital grew by 30.5%.
Although the growth of digital will slow down with the growth in volume in the next five years, GroupM predicted that digital ad spend will match television in 2024 and overtake in 2025.
A few months ago, Madison Media had released its revised forecast for 2019 and had shown print significantly above digital. Similarly, FICCI-EY report this year had predicted that digital will overtake print in 2021.
The overall India advertising industry grew by 12.4% in 2019 to reach $12,058 mn (Rs 84,000 crore). The growth rate in ad spends is estimated at +12â€“13% each year from 2020 to 2024, similar to 2019 levels.