GroupM lowers adex growth forecast for 2017

Ad expenditure is expected to grow at the rate of 10% this year versus 12% seen last year

GroupM, the country's largest media agency network, has lowered its advertising expenditure (adex) growth forecast for 2017, pegging it at 10 per cent this year against 12 per cent last year.

While India's adex would cross Rs 60,000 crore to touch Rs 61,204 crore this year, the interesting bit was that television as a category would see a lower rate of growth at eight per cent vis-a-vis 10 per cent last year, CVL Srinivas, CEO, GroupM, South Asia, said.

TV's lower rate of growth and key segments such as fast-moving consumer goods (FMCG) slowing down this year were