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Pitch Madison mid-year review downgrades ad growth forecast by 3.5%

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Pitch Madison mid-year review downgrades ad growth forecast by 3.5%

Pitch Madison released the mid-year advertising report today. Upon review of advertising expenditure in H1 2016 Madison Media finds that growth in all media is more or less as per its original projections released earlier in the year, but there is a slowdown in TV advertising growth rate. Against the projected growth of 20% in the TV advertising for full year, only 11% growth is achieved in H1. This compares poorly with the 35% growth rate achieved in H1 2015 over H1 2014 on the back of substantial increase in E-Commerce spends and ICC World Cup. Drop in growth rate of TV advertising is also the main reason why the total ad market growth in H1 2016 is only 12.9%. This leads to a drop in 2016 annual growth forecast from 16.8% to 13.2%.


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Sam Balsara, Chairman, Madison World said, “The drop in growth rate of TV advertising does not augur well for the economy as generally a spurt in Ad spends leads to higher GDP growth.”

Vikram Sakhuja, CEO, Madison Media & OOH said, “The drop in growth rates in TV is led by a lower contribution of E-commerce which is a category known to pick and choose high priced inventory / impact programmes and substituted by FMCG users who resort to everyday advertising and seek high value for money.”



The agency expects this trend to continue and if so the year should close just shy of 50,000 Cr. The only change that agency is calling out at this stage is a reduction in TV growth from 20% to 11%.

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