AdEx to grow at 12% to reach Rs 1.11 lakh crore in 2024 Madison

Over 700 million people watch the 26 channels that Sony Pictures Network India (SPNI), an indirect wholly-owned subsidiary of Sony Group Corporation, Japan, owns and operates in Hindi and numerous other languages. In addition, it offers live sports, movies, short films, as well as its own original and archived material, on its single OTT platform, Sony LIV. There are about 33 million people who watch it. Madison World Chairman Sam Balsara stated, "Whilst the outlook for AdEx in India is extremely strong in the mid-term and long-term, we are witnessing a slowdown in momentum in the short term because of India Inc's focus on quarterly profits." "This does not augur well for sustained growth in profits for Advertisers who should be focussing on volume growth." Video, social, display, e-commerce, and search will contribute 17% of the growth in digital advertising, which is expected to reach Rs 46,465 crore in 2024, according to the report. It is anticipated that digital would account for 42% of all ad spending, up from 40% now.
The Indian Premier League (IPL) has increased its ad market size from Rs 450 crore to about Rs 1000 crore in 2023Connected TV advertising. Traditional media, which include TV, print, radio, outdoor, and cinema, are predicted to account for 58%, or Rs 64,545 crore, of all ad spends in 2024, despite the fact that digital is currently the leading advertising medium.
However, it is anticipated that traditional advertising would no longer account for 60% of all advertising by 2023. PMAR predicts that TV Adex will increase by 8% to Rs 35,575 crore. It is anticipated that in 2024, its portion of total AdEx will drop from 33% in 2023 to 32%. Thanks to sports, TV AdEx increased by 7% in 2023 to reach Rs 32,886 crore. It is anticipated that in 2019, the print AdEx will surpass the pre-Covid estimates, rising by 7% to Rs 20,613 crore. Publications in Hindi, English, and Marathi are most common the amount of print advertising space in India.OOH AdEx is expected to expand by 13% in 2023 and by 15% in 2024, primarily as a result of elections, to reach Rs 4761 crore. After surpassing pre-Covid levels to achieve Rs. 2,272 crore, radio advertising revenue growth is predicted to climb at a rate of 12% in 2024 to reach Rs. 2549 crore. Cinema AdEx has increased 36% to Rs 776 crore, although it has yet to return to pre-COVID levels. By 2024, the medium is projected to have grown by 35% to Rs 1047 crore