As of 2023, the ad revenue generated by digital media across India was valued at around 576 billion Indian rupees. That same year, India’stotal advertising revenue was over one trillion Indian rupees and the country was ranked among the largest advertising markets across the world in terms of ad spending.
The future is digital
The highest share of ad revenue was generated by the Indian television ad market, valued at over 250 billion rupees in fiscal year 2018, followed by the print market. However, the projections for each of these segments show a clear pattern where the digital ad market will rapidly overtake print as well as television revenues by fiscal year 2024. According to these projections, the digital ad revenue in the country will be worth almost 540 billion rupees by fiscal year 2024, while the television and print ad revenues were projected to reach about 455 billion rupees and 276 billion rupees respectively. These numbers clearly show that India is heading towards a digital advertising future.
Big bucks for digital advertising
The reasons for this surge in India’s digital advertising are clear. Rising penetration of affordable and speedy internet, along with an increase in vernacular content consumption make up the tip of the iceberg. Along with this, big-moneyed industries such as banking, financial services, and insurance are increasingly experimenting with non-traditional media platforms such as YouTube and Instagram stories to connect with users.
