GroupM India on Tuesday announced its advertising expenditure forecasts for 2021. According to the GroupM futures report ‘This Year, Next Year’ (TYNY) 2021, India will see a major advertising recovery in 2021 after the steep fall in 2020 because of the pandemic.
TYNY forecasts India’s advertising investment to reach an estimated Rs 80,123 crore this year. This represents an estimated growth of 23.2 per cent for calendar year 2021.
India is the second fastest growing market in the top 10 countries and will be the sixth largest contributor to incremental ad spends in 2021 globally. While India was ranked ninth in the global ad spend rank in 2019, it dropped to tenth position in 2020 and is likely to regain its ninth rank this year.
Prasanth Kumar, CEO of GroupM South Asia, said, “2020 was an unprecedented year... The ad industry too had its challenges and 2020 witnessed a steep drop in the overall media investments. However, we have witnessed a month-on-month upturn starting the third quarter last year and we are quite optimistic about the revival that 2021 will see.”