Indian Adex registered a growth of 37% in 2021 rising to almost Rs 74,000 crore, which is Rs 20,000 crore higher than 2020, as per the Madison Advertising Report 2022.
The report further says that it is the “highest growth that Adex has registered in nearly last 2 decades”, and has also surpassed the figures for 2019 by Rs 6,500 crore or 10%.
As per the report, Digital Adex has seen a dramatic 50% increase to make up for the lower than average 10% growth in 2020.
It says that firing on several verticals – Ecommerce, Search, Social and Video, among others, has helped Digital Adex grow exponentially.
The report states that with Digital Adex now reaching a share of 34%, it is in striking distance of TV, which ended the year with share of 38%. Just two mediums, TV and Digital, now contribute to 72% of Adex.
Amongst Traditional Media, TV surprised observers and despite talks of large number of viewers moving to OTT and Connected TV, it registered a 25% increase over 2020 and an 11% increase over 2019, as per the report. It also states that TV is the only traditional medium that has crossed its 2019 Adex level.
The report also highlights that OOH and Radio grew significantly by 69% and 36% respectively, but they are still nowhere near 2019 levels. It adds that Cinema was the only medium that could not reach its 2020 level.
However, as per the report, India continues to be a minor player on the global Adex stage, with a share of only 1.5%.
Some other key highlights from the Madison Advertising report are: