Cricket, elections to help TV AdEx grow 8% in 2024

Today in Mumbai, prominent figures from the marketing and advertising fields as well as leaders in the industry launched the Pitch Madison Advertising Report (PMAR). The study makes projections about media and advertising sector ad spending that will enable companies to completely transform their approach to marketing. The Pitch Madison Advertising Report predicts that linear TV will rise this year as big, established marketers still have faith in TV's ability to establish brands. "In 2024, we anticipate that TV will add an additional Rs 2,700 crore and grow by 8%, reaching a total of Rs 35,575 crore." TV will, however, lose 1% of the market share with this growth and end up at 32%, according to the research. The report further revealed that TV AdEx is under pressure as there is a growing perception that the very large lower middle class is under severe financial pressure and is being forced to buy and spend less. The report added that the reluctance of start-ups to finance expensive large-format shows, which are very profitable for broadcasters, is putting enormous pressure on TV ADEX. On the other hand, consumption of FMCG televisions is expected to increase year-on-year to drive volume growth. Positive factors that can drive the growth of TV AdEx are belief in the branding power of television, cricket tournaments IPL and ICC Men's T. 20 Cricket World Cup and general elections e.g..

The PMAR provides insights and forecasts for the future by analysing the amount and usage of advertising funds over the previous year. It seeks to comprehend the difficulties and possibilities that face marketers and the print, broadcast, radio, out-of-home, online, and film industries. PMAR's comprehensive data and insights allow advertisers, media planners/buyers, and brands to evaluate the previous year and make informed plans for the upcoming one. For information on current market trends and significant advancements across a range of media, media owners, marketers, and specialists in media buying and planning should consult this report.