After the introduction of Reliance Jio in the Indian market, the number and time spent of users have increased immensely but still, there is one industry that looks valuable to advertisers is the newspaper industry. With the decline of print media and massive growth of television and digital services, newspapers will still have a dominant share in the media for advertising purposes, according to the latest report from Zenith, the ROI agency of the Publicis Group.
Tanmay Mohanty, Group CEO, Zenith India said, “Growing internet penetration accelerated by operators such as Jio will significantly enhance digital ad spends in India and give access to previously untapped markets.”
As per the report, the advertising expenditure will close at Rs 53,918 crores for 2017 and is expected to be Rs 58,422 crores in 2018 and Rs 73,711 crores in 2020. Even in 2020, newspapers will have the dominant share of around Rs 28,670 crores which is almost 39% of the total amount. The report also shows that advertisements in digital media are growing at 20.4% in this year in comparison to the overall average growth which is 8.4%. Digital media is having 11.6% share of the total market in 2017.
The global report also claims that India is now one the top markets contributing to global advertising spends. India will be on the number 4 after US, China, and Indonesia in global ad spend growth from 2017-2020.
With Demonetisation and GST at the back of us, marketers and advertisers are ready to spend big in print, television and of course digital media. Do share your thoughts on this report with us in the comments section.