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India adex forecast: Industry splits over digital ad spends in 2022

While Madison and GroupM believe that digital will surpass TV ad spends, dentsu and IPG forecast that television will continue to have the biggest chunk of total adex

The four global ad agencies have released their Adex reports for the year 2022. While digital remains one of the most flourishing mediums in the years to come, a notable dip in ad spending on television has also been projected. 

Not just that, but two of the agencies believe that digital will surpass television in 2022 while the remaining two believe that television will continue to be the biggest medium for ad spends. 

Overall adex (Rs crore) 2020 2021 2022 (F)
Madison 54,151 74,000 90,000 
GroupM TYNY 69,809 88,334 107,987
IPG Magna 57,672 65,746 75,500
Dentsu  59,619 70,715 81,025

According to Madison and GroupM, digital will emerge stronger with spending of Rs 33,070 crore and Rs 48,603 crore and television will slip down on the second slot with spendings of Rs 32,100 crore and Rs 42,338 crore, respectively. 

However, IPG and Dentsu believe that television will continue to have the biggest chunk of total adex with spendings of Rs 49,900 crore and Rs 32,206 respectively. Interestingly, the agencies reported that digital will not be able to garner as much adex as television. Spendings on digital, as per IPG and Dentsu will be Rs 25,400 crore and Rs 27,759 crore respectively. 

Digital adex (Rs crore) 2020 2021 2022 (F)
Madison 16,974 25,438 33,070
GroupM TYNY 26,481 36,544 48,603
IPG Magna 17,851 21,350 25,400
Dentsu  15,782 21,353 27,759

 

TV adex (Rs crore) 2020 2021 2022 (F)
Madison 22,508 28,151 32,100
GroupM TYNY 30,436 36,929 42,338
IPG Magna 24,142 26,553 29,400
Dentsu  23,201 29,279 32,206

Print, on the other hand, will grow with an average growth of 2%, according to Madison and IPG. However, Dentsu’s report says that ad spends on the print will decline in 2022. 

Print adex (Rs crore) 2020 2021 2022 (F)
Madison 11,925 16,595 18,750
GroupM TYNY 10,350 12,067 12,667
IPG Magna 12,677 14,236 16,157
Dentsu  13,970 16,599 15,000

Outdoor, which was affected badly during the pandemic, will also progress in 2022. As per GroupM’s TYNY report, outdoor will grow by 85% in 2022. 

OOH adex (Rs crore) 2020 2021 2022 (F)
Madison 1,292 2,178 2,955
GroupM TYNY 930 1,100 2,036
IPG Magna 1,626 1,903 2,276
Dentsu  1,632 1,611 1,643

Cinema, as per TYNY report, observed a decline of 83% in 2020 and 36% in 2021, will grow exponentially. The report mentions that cinema will record a growth of 467% in its total ad spendings. 

Cinema adex (crore) 2020 2021 2022 (F)
Madison 182 136 500 
GroupM TYNY 175 112 635
IPG Magna< 110 90 180
Dentsu  288 276 278

According to Madison, radio grew by 36% and will further grow by 10% in 2022. GroupM’s adex report states that radio grew by 15.6% and is forecasted to further increase by 6.4% in 2022. 

Radio adex (crore) 2020 2021 2022 (F)
Madison 1,270 1,733 1,910
GroupM TYNY 1,436 1,581 1,657
IPG Magna 1,340 1,613 1,954
Dentsu  1,617 1,597 1,629

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