.jpg)
The government’s recent GST reductions are emerging as the catalyst behind a revived festive advertising push.
With lower tax burdens and improved margins, advertisers are regaining confidence, and print publishers are preparing for one of their most buoyant festive seasons in years.
The optimism is also supported by consumer-side data. The JioStar Festive Sentiment Survey revealed that 92 per cent of Indians plan to maintain or increase festive spending this year, with average spends estimated at about Rs 16,500. Such numbers provide the foundation for advertisers to step up their festive investments, particularly in trusted mediums like print.
Meanwhile, TAM AdEx data shows festivals such as Diwali dominate all festive print ads, accounting for 28 per cent, followed by Navratri/Durga Puja at 21 per cent and Christmas/New Year at 15 per cent.
Industry sentiment positive
Rajesh Jain, Managing Director of Prachar Communications, observed that the GST corrections have significantly lifted advertiser morale. “Previously, it wasn’t very positive, primarily because consumerism was not behaving well, which was affecting the economy. However, with the recent GST adjustments, there is a renewed sense of optimism, and I am confident this will stimulate better business moving forward.” He added that his agency expects its business to perform “100 per cent better compared to last year.”
Anirban Bagchi, Vice President of Jagran Prakashan and National Sales Marketing Head of Dainik Jagran-iNext echoed this view, noting that advertiser activity is already visible. “We expect consumer sentiment to bounce back strongly post GST 2.0 reforms and advertisers to align budgets for maximum impact. We are optimistic of a healthy double-digit growth in festive advertising this year. We can see the enthusiasm from the advertisers in the form of early bookings and higher frequency for this festive season.”
Not everyone is entirely bullish. Jogesh Bhutani, founder of Nexus Alliance Advertising & Marketing, struck a cautious note. “It’s definitely going to be a mixed bag for the print sector. If the GST changes hadn’t occurred, the outlook would have been far less optimistic. Categories like automobiles and FMCG have been under pressure, and sectors like retail, apparel, and even food and grocery have not been very dynamic either. But with the GST reduction, clients will be more inclined to spend, which is encouraging.”
Print remains an anchor medium
As brands allocate larger festive budgets, print is reasserting its relevance as a trusted and scalable medium, particularly in regional markets.
Jagran Prakashan, with a strong footprint across Uttar Pradesh, Bihar, and Jharkhand, is betting on categories such as retail, auto, jewellery, FMCG, real estate, handsets and consumer durables. “Print is going to be the anchor medium for this festive,” Bagchi emphasised.
For agencies, print retains a unique advantage in trade-driven segments. Jain explained, “Print media remains highly effective for trade and particularly for male consumers, so we always factor this into our strategy when dealing with male-centric products. When the focus is on driving trade, print media is the preferred choice.”
In Kerala, the festival calendar begins with Onam, and this year’s season has already validated the strength of advertiser demand. “Onam is the biggest festival here,” said Varghese Chandy of Malayala Manorama. “It is being closely watched across the industry. Every brand is active and eagerly waiting to see the success story.” He added that premium spaces were quickly snapped up. “Our jackets were all full at the beginning of the year itself for Onam. So there is an inventory problem during the festival.”
Ad rates during festive hold mixed opinion
While advertiser budgets are expanding, opinions differ on whether print ad rates will see any lift. Chandy was categorical that there is little room for price increases. “Ad rates never go up during festive seasons for print. Supply-demand equations do not fix the price any longer.”
On the other hand, Bagchi of Jagran expects some movement in premium positions. “As the inventory gets filled up, we are foreseeing an uptick in ad rates for high-impact positions and innovations.”
Agencies, however, remain cautious. Jain explained, “I don’t foresee any significant increase in ad rates. The volume should be on par or better than last year, but I don’t anticipate a rise in prices.”
Bhutani agreed, adding that even jackets and covers may be difficult to sell. “Regarding print ad rates, I don’t see any increase. In fact, it’s likely to be difficult to sell these ad spaces, even for the big publications. The market is challenging, and cost increases are simply not on the horizon.
The numbers from last year underscore how much ground print has to cover. TAM AdEx data shows that during the 2024 festive season, print advertising volumes were 4 per cent lower than the previous year, despite a 2 per cent growth during Navratri. The number of advertisers and categories using print also declined, by 5 per cent and 7 per cent respectively.
Strategies to make the most of festive demand
Publishers and agencies are working to align their strategies with the uplift in advertiser sentiment triggered by GST corrections.
For Malayala Manorama, the focus has been on advance planning and client-first inventory management. “Strategies include managing inventory so that clients are kept happy, planning well in advance, and offering a lot of customised activations,” Chandy explained.
Jagran is rolling out integrated festive packages that combine print with digital and hyper-local activations, matching advertisers’ demand for more holistic campaigns. “We are offering various tailor-made festive packages that resonate with the advertisers’ holistic approach,” Anirban said.
Agencies are leaning into GST-driven trade sentiment. Jain noted, “Our strategy focuses on leveraging the GST corrections to stimulate trade. Print remains the best medium for targeting trade audiences.”
Bhutani, however, believes the playbook remains relatively traditional. “Print advertising remains quite commoditised. The focus will be on bundling effective packages at good prices. Innovation has plateaued, and I don’t expect any game-changing shifts this year.”
Outlook
With GST relief fuelling advertiser confidence, print publishers are positioning themselves at a favourable spot. Onam has set an encouraging tone, Diwali bookings are gaining traction, and categories from auto to jewellery are opening their wallets.
While pricing may remain under pressure, the combination of policy tailwinds, regional strength, and consumer appetite suggests that the 2025 festive quarter could mark one of print’s strongest advertising runs in recent years.
.jpg)
.jpg)
.jpg)
