Print AdEx in India projected to grow at 7% this year: PMAR

Despite the relentless rise of digital media and lingering challenges from the pandemic, India’s print industry has demonstrated remarkable resilience in 2024. Contrary to concerns of an industry in decline, print has found ways to adapt and sustain itself in an evolving media landscape.

Pitch Madison Advertising Report suggests the Print sector demonstrated remarkable resilience in 2024 despite persistent challenges. The industry has managed to navigate turbulent times, challenged by the aftermath of the pandemic and the continuing rise of Digital media. The medium recorded an AdEx of Rs 20,272 crore in 2024 and has finally managed to cross the pre-Covid level, after a long gap of 5 years by showing a growth of 5%.

For the second consecutive year, Print has maintained its share of 19% in overall AdEx. Interestingly, Print’s share till year 2019, was always more than 30%. The growth in Print AdEx suggests that advertisers are re-discovering value in the medium, particularly its strength in delivering localised, high-trust advertising experiences, said the report.

Globally, print’s global share of AdEx is only 3%, compared to India’s print share of 19%. Germany is the only other country with a print share of 19%. Most other global countries reflect a shift towards some form of digital.

Print volumes see no growth

The Print sector in terms of volume displayed no growth during the year. Q1 witnessed a 16% rise in volume, but subsequent Q2, Q3 and Q4 witnessed declines of -6%, -9% and -1% respectively. Q4 volume for 2024 and 2023 was similar, signalling stability of volume during festival time. In terms of Revenue, 5% overall growth was driven by strong performances in Q1 (+13%) and Q4 (+10%), despite a revenue decline in Q3 (-7%).

Revenue in Q2 increased by 7% reaching a revenue of Rs 4,197 crore supported by the election period which historically always boosts Print advertising in India. However, Q2 volume has declined by 6% indicating that higher pricing and premium ad slots may have compensated for lower ad volume. Q4 revenue has increased 10% reaching Rs 6,184 crore, due to the festival season, aligning with stable ad volumes. Q4 contributed the highest share of 31%, emphasizing its importance in the yearly cycle.

English and Marathi papers thrive

The flat to degrowth of volume across most languages, stands in stark contrast to the 5% revenue growth in 2024, indicating higher ad rates and premium pricing, especially in English and Marathi. Hindi and English dailies contribute to 64% of total print volume in 2024, aligning with their significant revenue contributions. A 4% volume growth in English publications, supported revenue gains, as English publications usually command higher ad rates. Growth in Marathi volumes of 5% and stability in Kannada and Tamil reflect a robust regional demand. On the other hand, there were declines in Telugu (-10%) and Malayalam (-8%), signalling weak market conditions in those regions. The primary growth drivers are Auto, FMCG, Education and Real Estate, which together contribute significantly to overall growth.

Categories: Telecom takes a leap, eComm a step back

The auto sector grew by 7% in 2024, contributing Rs 176 crore to the absolute growth and maintaining a stable 14% share of Print. This is also because the India Automotive market is witnessing growth in 2024, due to rising demand for EVs (Electric Vehicles) and new launches in the SUV segment.

Print heavy advertisers are Hero Motocorp, Honda Motorcycle & Scooter, spending more than 50% of their total budgets on Print. TVS Motor Company, Congress, Tata Motors, Titan Company and Maruti Suzuki spend almost 25%-30% of their budgets on Print.

Further, the FMCG industry grew by 6%, adding Rs. 134 crores in 2024, with a steady share of 12% in the last two years. FMCG accounts for 13% of the overall growth. Telecom grew by a robust 30%, adding Rs. 60 crores driven by the rollout of 5G services and fierce competition among telecom providers.

The Real Estate sector saw a growth of 6%, an addition of Rs. 95 crores, due to urbanisation, affordable housing schemes, and redevelopment properties. The E-Commerce category shows significant decline with a notable degrowth of 14%.

What chapter 2025 holds

Print advertising in India, despite the challenges posed by the rapid rise of digital media, remains a resilient and indispensable pillar of the advertising eco-system. While digital platforms have undeniably disrupted traditional media, print continues to hold strong in India, where it still commands a significant share of the advertising
market.

“For 2025, we expect the recovery of Print Adex to continue its upward trajectory, with an overall growth of 7%. In absolute terms, Print Adex is set to reach close to Rs. 22,000 crore, which is a positive development. It is worth noting that this projected 7% growth in 2025 is estimated despite the absence of major events such as the General Elections, which significantly contributed to Print Adex in 2024,” said the report.

However, Print’s overall share in the Total Adex will gradually decline. From a 19% share in 2024, Print’s contribution is expected to drop slightly to 18% in 2025. This reduction reflects the broader trend of digital media’s increasing dominance in the advertising space.

While India projects a 7% growth in Print AdEx for 2025, it is interesting to note that the global Print AdEx, according to WARC projections, is expected to experience a decline of 7%. This contrast reflects the differing dynamics of the Indian market, where print still holds significant ground, compared to global trends where digital platforms are rapidly displacing traditional Print advertising.

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