Cricket, elections to help TV AdEx grow 8% in 2024

TV AdEx expected to reach a total of Rs 35,575 crore this year, states Pitch Madison Advertising Report 2024

by Team PITCH
Published - February 15, 2024
2 minute To Read
Cricket, elections to help TV AdEx grow 8% in 2024

The Pitch Madison Advertising Report (PMAR) was unveiled today in Mumbai, in presence of industry leaders and luminaries from the marketing and advertising world. The report reveals predictions of ad spending in the media and advertising industry which will help businesses revolutionize the way they approach their marketing strategies. According to the Pitch Madison Advertising Report, linear TV will continue to grow this year because large and seasoned advertisers continue to believe in the brand-building power of TV. “We expect TV to add another Rs 2,700 crore and grow by 8% in 2024 to reach a total of Rs 35,575 crore. With this growth, however, TV will again lose 1% share and settle at 32%”, the report said.

The report further revealed that TV AdEx is going to be under pressure due to the growing realisation that the very large lower middle class is under severe economic pressure and is constrained to buy and consume less. The report added that the reluctance of startups to come forward to sponsor expensive large format shows, which are very lucrative to the broadcasters will put huge pressure on TV ADEX.  On the other hand, FMCG should see increased TV spend over last year to drive volume growth.

The positive factors that may aid the growth of TV AdEx include the belief in the brand-building power of TV, cricket tournaments IPL and ICC Men’s T-20 Cricket World Cup, and General Elections among others.

The PMAR analyses how and where advertising monies were spent in the past year, and offers insights and predictions for the future. It aims at understanding the challenges and opportunities that lie ahead for marketers and various media print, TV, radio, OOH, Internet, and cinema.

The in-depth research and insights that PMAR offers, give brands, media planners/buyers and advertisers an opportunity to analyze the year gone by and plan the coming year effectively. The report is a point of reference for marketers, media owners, and media buying and planning professionals to stay updated on industry trends and key developments in various mediums.

Download the Pitch Madison Advertising Report 2024 here.