India all set to be among top ad markets next year

India All Set To Be Among Top Ad Markets Next Year

 GroupM is the world’s leading media investment company responsible for one in three ads and headquartered in New York City. The company has 32000 employees over 100 countries. The Zenith Media Services is a part of Publicis Groupe. The company develops and executes consumer advertising campaigns and strategies.

The media agencies like GroupM and Zenith said that India would become the top advertising market in the world by next year. A 12-13 percent growth is shown by GroupM owned by WPP for advertising market in 2020 when compared to 2019. The overall size is around 95000 crore.

Zenith said that India will be in top 10 global ad markets but faced by the economy slow down. The Tanmay Mohanty, chief executive officer of Zenith India and head of global partnerships, Publicis media India said that due to the gross domestic production (GDP) slowdown in India, short term view is cautious and the long term view remains.

The optimism shown by the two media agencies show a positive sign indicating the recovery of the Indian economy by next year. The finance minister Nirmala Sitharaman announced some relief measures in personal taxation to boost the domestic consumption. The government has slashed the corporate tax  rates to get the economy back on track. The Indian economy slowed down to a six years low percent of 4.5 in July-September.

 Brokerage credit Suisse said that second half of the financial year 2020 will be more challenging to the market. It weakens the fast moving consumer goods (FMCG) sector. The market research agency Nielson predicted a low single digit growth for FMCG in the October- December period from the mid-single digit in July-September. The chief executive officer of GroupM South Asia, Prasanth Kumar said that the pain remains in Indian market and India faces uncertainties in 2020. This will help brand to innovate and effectively utilize technology that can bring up the Indian economy and the media market.

According to GroupM the radio shows a growth rate 8 percent in 2020. The internet or digital advertising medium shows a sharp growth of 26.3 percent. This is followed by the television medium showing a growth of 11.1 percent. The outdoor and cinema also shows a 8 percent growth. GroupM said the digital advertising share in the total ad would touch nearly 30 percent in 2020 secondly to the television share which is 42.5 percent. Prints share is 19.3 percent in the total ad pie.