Media agency Madison Communications Pvt. Ltd in association with trade publication Pitch has now forecast negative 5% growth in advertising for this calendar year. While traditional mediums are declining , internet is the fastest growing medium and is still expected to see a growth of 25%. Other key highlights are:
- The industry is expected to close calendar year 2009 with Rs19,777 crore against Rs20,717 crore in 2008
- The advertising and media industry saw just Rs7,452 crore in ad spends in the first half of 2009, a staggering Rs1,414 crore less than ad spends in the same period last year
- The study is based on market analysis and conversations with marketing and media executives.
- Consumer Products and Telecom are the main spenders while financial services and airlines have seen the biggest drop in advertising.