'TV, Print or Digital—no medium can replace another'

As digital advertising dominates ad budgets, traditional media faces a critical turning point. While both TV and print belong to the traditional advertising space, an unexpected trend has emerged - while print continues to hold its ground, the same cannot be said about TV.

According to the latest Pitch Madison Advertising Report, print is projected to grow by 7% in 2025, reaching Rs 21,691 crore, while TV is expected to see a modest 6% growth, touching Rs 36,520 crore. Meanwhile, digital advertising is set to grow by 17% to Rs 52,992 crore, increasing its share to 44% of the total advertising expenditure.

The digital surge

Industry experts attribute digital’s rapid rise to its unmatched targeting capabilities and shifting consumer behaviour. Madhu Dutta, Head of Marketing & GM at Raymond Limited highlighted the challenge of quantifying digital’s growth but acknowledged its aggressive momentum.

"Every industry is constantly evolving, and the digital space is no exception. However, the momentum is undeniably aggressive. As marketers, our focus is on understanding this shift and finding the best ways to leverage its potential," she said.

Girish Hingorani, Vice President - Marketing & Corporate Communications at Blue Star pointed out that connected TV has played a major role in this shift, with a large chunk of traditional TV advertising moving to digital platforms. "Similar to how IPL now commands 5% of the advertising index (Idex), much of this spending has shifted to a connected TV platform, rather than traditional networks," he explained.

He also emphasised digital’s distinct advantages over traditional TV. "Digital offers precise targeting, allowing marketers to reach specific audience clusters, unlike TV. Additionally, while TV viewers often switch channels during ads, digital ads are more dynamic and engaging," Hingorani added.

TV growth

The slowing growth of TV advertising is largely due to the increasing number of alternatives available to viewers. Akshat Singhal, Head - Dangal Play, pointed out that while both TV and print face competition, print holds a unique advantage.

According to him, TV has numerous alternatives, just like print. However, people have a longstanding habit of reading newspapers. While print also faces competition, the concise and curated news summaries in newspapers often provide a better experience than digital apps.

Singhal said, "Additionally, much of TV content is readily available on digital platforms, which could be a key factor in its stagnation."

Meenakshi Menon, Founder - GenSxty Tribe Pvt Ltd, highlighted the impact of free content availability. "When content is easily accessible at no cost, people naturally gravitate toward it without concern for paying. As a result, audience attention becomes increasingly fragmented," she explained.

Menon also noted the decline of news television as a major factor. “The advertising it attracts largely reflects this, catering to the same low-grade standards that dominate the space," she said

Print numbers

Despite its projected growth, many experts present an alternate view. Vinay Hegde, CEO Investments - Media at Madison World stated, “Right now, TV is under greater pressure from digital compared to print, which has already absorbed the impact of digital disruption,” He further added that as a result, TV is experiencing more fluctuations, but over time, it will settle into a similar pattern of stability with occasional ups and downs, much like print.

Shwetal Basu, Senior Vice President & Head Brand - Marketing at Polycab India, echoed similar sentiments: "The cost of advertising on television continues to rise year after year. As a result, digital has emerged as a much stronger medium, with a significant shift in ad spending toward digital platforms," she said. However, she also emphasised that TV still holds relevance. According to her, if one is building a brand, television should be part of the strategy.

Regarding print, Basu noted, "I believe it has experienced dips in spending but is now regaining momentum. Print remains valuable, particularly for local targeting and campaigns requiring strong call-to-action (CTA) elements.”

Basu said that print is an effective support medium, especially when one needs consumers to act immediately. In such cases, print works well alongside television and digital efforts to drive immediate responses.

Some experts argue that no medium will fade out completely. Satya Raghavan, Director, Marketing Partners, Google India, expressed confidence in the continued relevance of all platforms. "As a segment grows and matures, its growth naturally slows—that's just the rule of life. Digital has expanded rapidly in recent years, but much of its growth intersects with the evolution of television and print. Nearly every traditional media company today operates as a true multimedia entity," he said.

He dismissed the idea that digital would replace traditional media entirely. Raghavan concluded, “I don't subscribe to the idea that one medium will dominate or replace another—it's not a battle. At Google, we take a collaborative approach, actively partnering with traditional media companies across TV and print. The real opportunity lies in growing together, and that’s where the real potential unlocks.”

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