According to an advertising spending forecast released by Zenith Media, expenditure on digital ads is expected to double from Rs 9,752 crore to Rs 20,913 crore, The New Indian Express has reported. In comparison to this rapid growth television and newspaper advertisements are expected to grow at a slower rate.
Television advertisements are expected to grow from Rs 24,156 crore to Rs 36,510 crore. Newspaper advertisements are expected to grow slower from Rs 22,341 crore to Rs 25,408 crore.
“Digital will continue to accelerate both in reach and consumption”, said Chief Executive Officer, Tanmay Mohanty adding that If the growth of digital advertisements increases, it could easily put behind the newspaper advertisement expenditure in the country.
The newspapers share of global expenditure has fallen from 25 per cent in 2008 to 8 per cent in 2018. For magazines, it has fallen from 12 per cent to 5 per cent. Zenith predicts that the share of print advertisements will continue to fall.
Girish Menon of KPMG agrees with predictions related to digital advertisements and adds that it allows for flexibility for advertisers and enables engagement with the target audience.
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