[ad_1]
It’s that time of the year again when brands look to make the most out of the festive season through advertising – this time even more as celebrations are in full swing post two years of Covid related restrictions. According to industry experts, advertising spend is expected to go up by 8-10% to Rs 25,000 crore – Rs 30,000 crore this festive season. “While media spends will be primarily driven by TV and digital, print and out-of-home (OOH) spends will also grow. The key categories will be e-commerce, automobile, fintech companies, banking, financial services and insurance (BFSI), online gaming such as fantasy sports, food-tech services and retail,” Kaushik Chakraborty, executive vice president, iProspect India, told BrandWagon Online.
Television is expected to account for about 41-43% share of ad spends, followed closely by digital at about 33-36%, print at about 15-17% and OOH at three to 3.5 percent, followed by others. “Though there are a lot of dilemmas in the market currently like economic crisis and recession, when it comes to consumers in India, festivals are celebrated without any compromise. This is one of the biggest motivational factors for the advertisers to be present on the top of mind of the consumers. Current year 16% to 18% growth in annual spend is also on the back of festival ad spend. In terms of size, the Indian ad market will touch $11.5 billion in 2022 from $9.7 billion in 2021,” Ramsai Panchapakesan, senior vice president and national head, integrated media buying, Zenith Media, India, stated.
Experts believe that with the T20 World Cup, FIFA World Cup, India-Australia and India-South Africa series, sports genre will have a significant share of overall spends. Furthermore, with shows across general entertainment channels (GEC) such as Khatron Ke Khiladi, Jhalak Dikhla Jaa, Bigg Boss, Sa Re Ga Ma Pa, Indian Idol, DID Super Moms, Kaun Banega Crorepati, among others, GEC spend is expected to get a boost. The movie genre, too, is estimated to grab a good share as South based films such as RRR, KGF, KGF2 will premiere on TV, Chakraborty said. “News channels are expected to have an 8-10% share of overall TV adex,” he added.
To be noted, the festive season, which kicks off with Onam and continues till the new year, typically accounts for 30-40% of the overall advertising expenditure of brands. According to AdEx India, a division of TAM Media Research, television ad volumes during the festive season in CY2021 grew by 27% compared to CY2019. The top categories in 2021 were e-commerce – media/entertainment/social media, milk beverages, shampoos, tooth pastes, and toilet or floor cleaners. While the top advertisers were Hindustan Unilever, Reckitt Benckiser (India), Cadburys India, Brooke Bond Lipton India, Ponds India.
When comparing the festive season in CY2021 to CY2019, radio ad volumes fell by 17%. The top categories on radio were properties or real estates, retail outlets-jewellers, hospital/clinics, cars, retail outlets-clothing, textiles, fashion and the top advertisers were LIC of India, Maruti Suzuki India, Mother Dairy Fruit and Vegetables, Vicco Laboratories, LIC Housing Finance. As for print medium, ad volumes during festive season in CY2021 declined five percent compared to Y2019. The top categories on print during the festive season 2021 were two wheelers, coaching or competitive exam centre, properties or real estates, multiple courses, cars and the top advertisers were SBS Biotech, Hero Motocorp, Maruti Suzuki India, Honda Motorcycle and Scooter India, Fiitjee.
Digital ad insertions during the festive season in CY2021 dropped by 50% compared to CY2019. ecom- media, entertainment, social media, e-com online shopping, software, properties, real estates, e-com other services were the top categories in the festive season of 2021 and Amazon Online India, Grammarly Inc, Zero1 Inc, Google, Visymo.Com were the top advertisers.
“This festive season, the quintessential spenders such as FMCG, consumer durables and fintech category are expected to go big on advertising. However some of the categories that were previously big spenders like edtech may see a slowdown. Looking at the AdEx spends pattern in India, TV and digital add up to almost 80% of spends with digital forecasted to surpass TV spends by next year. The other media, radio and OOH are also expecting growth this season over last year. All in all, the growth is expected to be there but there’s a general sense of cautious optimism. Let’s see how the year unfolds,” Mansi Datta, chief client officer and office head – North and East, Wavemaker India, stated.
Also Read: Google Play Store’s decision to allow fantasy and rummy on the platform meets with scorn from the gaming industry
Follow us on Twitter, Instagram, LinkedIn, Facebook
[ad_2]
Source link
