Digital Media surpasses combined share of TV, Radio, OOH, Cinema in 2023

Dentsu's Digital Advertising Report 2024 reveals a transformative shift in the advertising landscape, as digital media claims a dominant 44% share of the Indian advertising market in 2023, surpassing traditional media spends.

The report discloses that digital media's share amounts to a substantial Rs 40,685 crore, marking a remarkable Rs 6,857 crore more than the combined share of Television (32%), Radio (2%), Out-of-Home (OOH) (2%), and Cinema (0.3%).

Television vs. Digital: A Shifting Paradigm

Television's contribution stands at 32%, totaling Rs 29,836 crore. The report attributes this shift to the relentless enhancement of digital infrastructure, fostering growth in segments like OTT, e-commerce, online payments, social media, gaming, and e-sports. Digital media's rapid growth, with a 36.6% increase over 2022, is projected to continue, reaching a 50% contribution to the Indian advertising market in 2024.

Contrastingly, television ad spending is expected to decline to 28% by 2024, with a negative compounded growth of 2.5% by 2025. Despite this, TV remains a trusted medium for brands, offering security and influence in advertising.

Emergence of Connected TV (CTV): A New Advertising Avenue

Connected TV (CTV) gains momentum among advertisers, with increased investments projected for engaging audiences in evolved environments. Streaming partners play a vital role, utilizing programmatic targeting, data-driven insights, dynamic, and interactive ad insertions for personalized and impactful advertisements.

Print, OOH, Radio & Cinema Advertising Forecasts

Print media occupies a 20% spend share, amounting to Rs 18,652 crores by the end of 2023, with an anticipated decline to 16% by 2025. The decline is attributed to digital technology's rise, shifting consumer preferences, rising costs, distribution challenges, and environmental sustainability concerns.

Radio, currently at Rs 1,814 crores, maintains a steady 2% spend share, influenced by the rising consumption of online radio and on-demand content, offering advertisers precise targeting opportunities.

Out-of-Home (OOH) medium sustains a 2% spend share with an 8.49% compounded growth rate, driven by digital transformation, interactive displays, and programmatic advertising, enhancing OOH campaigns in the digital era.

Cinema advertising is expected to maintain a consistent share, with ad spend projected to increase at a compounded rate of 2.50% by 2025, providing impactful opportunities for advertisers to engage specific audiences in high-attention environments.