Mid-year forecast places the country at 10, up two places over last year
Viveat Susan Pinto | Mumbai June 16, 2016
A just-released mid-year forecast of advertising expenditure by Magna Global, a unit of IPG Mediabrands, puts India at the 10th position in the pecking order of global advertising markets, up two notches over last year.
IPG Mediabrands is the media arm of the world’s fourth-largest marketing communications company IPG. India grew 15.9 per cent in 2015 and 13.9 per cent in 2014 in terms of advertising expenditure, according to Magna Global.
The latest forecast pegs India’s ad market size at Rs 56,381 crore ($9 billion) this year, with advertising growth at 16.2 per cent, the highest in five years. India overtakes South Korea and Italy – valued at Rs 54,502 crore ($8.5 billion) and Rs 53,861 crore ($8.4 billion), respectively – to break into the top 10 league. One dollar has been valued at Rs 64.12 by Magna Global.
Shashi Sinha, chief executive officer, IPG Mediabrands, says, “The outlook is extremely positive as (click the link for more)