Pitch Madison predicts 5% decline in adspends, Internet to grow by 25%

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:

1. The industry is expected to close calendar year 2009 with Rs19,777 crore against Rs20,717 crore in 2008
2. 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
3. The study is based on market analysis and conversations with marketing and media executives.
4. Consumer Products and Telecom are the main spenders while financial services and airlines have seen the biggest drop in advertising.