Digital accounts for half of ad revenues
As of 2022, the Indian advertising market achieved a historical milestone of expanding into a trillion rupee industry. As predicted, the penetration of digitalization in everyday life has made digital media theleading source of ad revenue, having overtaken television. Nonetheless, television in India remains the booming source for ads among traditional media – thanks mostly to a sustained love for daily soaps, reality shows, movies, and cricket in particular.Meanwhile, digital advertising in India continued to grow at a tremendous rate. Propelled by the Digital India initiative and the rapid adoption of smartphones with the availability of cheap data, mobile ads made up the largest share within this segment. Other catalysts included the decreasing urban-rural gap, enabling a more homogenous reach of all online content. Social media was the leading format for ads in this category, followed by online videos. With the highest levels of online video consumption among digital users in the country, the outlook for growth remained optimistic.
Print continued to retain an integral position for ads among traditional media in spite of a slow growth rate. This was complemented by the continuing morning routine of reading newspapers along with the first cup of chai in many households. However, the surge in production costs coupled with the digitization of several publications predict a rocky future for the country's massive print industry.
