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Media agency Madison has revised its advertising growth estimate for the year by almost 400 basis points, after a steep rise in television (TV) ad spending in the first half of 2015.
In a mid-year review, it has said ad growth for the year will be 13.8 per cent, not 9.6 per cent as projected earlier. Last year, it was 16.4 per cent, led by e-commerce and election spending. It says TV ad spending will continue to be high in the second half, with projected growth at 21 per cent.
In January-June, TV ad spending grew 20.6 per cent, the highest in five years. This was led by a surge in spending in e-commerce, automobiles, consumer goods & durables, and banking & finance.
The total advertising market is expected to grow from Rs 40,658 crore to Rs 42,234 crore by the end of this year.
