Digital advertising surpasses TV + Print + OOH in 2024: Dentsu report

New Delhi: India’s advertising industry grew by 6.3% to Rs 1,01,084 crore in 2024 despite macroeconomic headwinds, according to the dentsu Digital Advertising Report 2025.

The industry is projected to grow by 6.5% in 2025, reaching Rs 1,07,664 crore, and further accelerate in 2026 with a 7.2% growth rate, pushing the market size to Rs 1,15,460 crore by year-end.

The report highlighted digital advertising’s rapid expansion, surging 21.1% in 2024 to Rs 49,251 crore, outpacing traditional media and accounting for 49% of India’s ad market.

With a CAGR of 19.09%, digital ad spending is expected to reach Rs 59,200 crore in 2025 and Rs 69,856 crore in 2026, surpassing television and print to become the dominant media platform.

Television remains the second-largest contributor, holding 28% of the ad market at Rs 28,062 crore, followed by print media at 17% (Rs 17,529 crore) in 2024.

Out-of-home (OOH) advertising led ad spend growth along with digital, capturing 4% of total adex at Rs 4,256 crore. Radio accounted for 2% (Rs 1,679 crore), while cinema contributed 0.3% (Rs 306 crore).

According to the report, digital and OOH are the only media segments with a positive growth outlook until 2026, reflecting the Indian advertising industry's shift toward platforms offering greater engagement and flexibility. In contrast, traditional media—Television, Print, Radio, and Cinema—are projected to witness a decline over the same period.

Between 2023 and 2024, television's share declined from 31% to 28% and is expected to drop further to 24% in 2025. Print media followed a similar trend, decreasing from 20% to 17% by the end of 2024, with projections suggesting a further decline to 15% by 2025. Radio, which maintained a steady share of 2% in 2024, is expected to decline to 1% by the end of 2025.

OOH continues to show consistent growth, although the pace has slightly slowed from 12% in2024 to 10% in 2025.

This seismic shift underscores one undeniable truth: brands must rethink, rewire, and reimagine their strategies to stay ahead.

Key sectors such as e-commerce, automotive, BFSI, FMCG, and retail continue to dominate both digital and traditional media. The FMCG segment continues to dominate the Indian advertising space, contributing 31% (Rs 31,467 crore), followed by e-commerce and quick commerce brands that capitalise on impulse buying. The e-commerce segment accounts for 15% (Rs 15,509 crore), while the consumer durables category contributes 7% to the overall advertising industry. 

The scale of offers and promotions across retail media, e-commerce, and D2C platforms is expected to be substantial, driving significant consumer engagement. Furthermore, product launches will play a pivotal role in encouraging consumer trials, contributing to a rise in overall ad spending. A notable trend is the strong surge in rural consumption, outpacing urban areas, particularly in the automotive and FMCG segments. This shift highlights the growing importance of rural markets in shaping advertising strategies and driving industry growth across diverse categories.

In 2024, the travel and transport sector saw the highest advertising expenditure growth, rising by 33.4% compared to 2023. This growth was driven by the successful ‘Chalo India’ campaign aimed at attracting global tourists, the Maha Kumbh Mela 2025, and various local campaigns promoting India’s diverse landscape and cultural heritage. The e-commerce sector experienced a 21.1% increase in advertising spend, while the automotive segment grew by 20.4%. Continued growth in the automotive sector is expected, with two-wheeler brands making a strong comeback, particularly as electric vehicles (EVs) gain momentum in the market.

The ‘dentsu Digital Advertising Report 2025’ identifies three critical forces reshaping the advertising landscape:

Retail media’s meteoric rise: E-commerce is no longer just transactional; it's a full-funnel marketing ecosystem. Brands are leveraging hyper-personalised experiences, data-driven engagement, and closed-loop measurement to maximise impact.

The hybrid marketing revolution: The traditional online-offline divide is vanishing. Integrated, omnichannel strategies are redefining consumer interactions, blending digital precision with physical-world impact.

AI-driven personalisation at scale: The age of one-size-fits-all marketing is over. Brands that master AI-powered, real-time consumer engagement will dominate the next era of advertising.

Beyond trends, the ‘dentsu Digital Advertising Report 2025’ delivers sharp, data-backed insights to help brands navigate India’s digital-first future:

• Regional content and hyperlocal storytelling are driving deeper audience connections.

• Influencer-led, community-first marketing is reshaping brand engagement.

• User-generated content is emerging as a trust-building powerhouse.

• Data-driven decision-making is no longer optional — it’s imperative.

Reflecting on the industry’s evolution, Harsha Razdan, CEO, South Asia, dentsu, said, “The future isn’t a distant concept—it’s built-in real-time, in the decisions we make today. The 2025 report is not just an analysis of industry trends; it’s a call to action. The brands that will lead tomorrow are the ones that see through the noise, connect the dots, and act before the world catches up. This report isn’t just about understanding the market—it’s about mastering it.”

Narayan Devanathan, President and Chief Strategy Officer, South Asia, dentsu, added, “Looking Through the Kaleidoscope’ is an invitation for marketers to go beyond the obvious. Creativity, technology, and media are no longer distinct silos—they are converging to shape consumer experiences like never before. The report equips brands with the insights, foresight, and strategy they need to build deeper, more meaningful connections in this new era.”