India to be in Top 10 global media markets despite current slowdown: Zenith Adex Forecast

The Zenith’s Advertising Expenditure Forecast says global advertisers will increase ad spends by 4.3% in 2020

e4m by exchange4media Staff
Published: Dec 9, 2019 9:17 AM  | 5 min read
Advertising

Advertisers will increase their global ad expenditure by 4.3% in 2020, but the commercial audiences supplied by media owners will shrink by 1.6%, fuelling a 6.1% increase in media prices, says Zenith’s Advertising Expenditure Forecasts.

The report projects India to emerge within the Top 10 global media markets, growing much faster than China between 2019-2022, despite the current economic slowdown.
Despite the trade dispute, the US and China are still leading global adspend growth. The US ad market is forecast to grow by US$39.1bn between 2019 and 2022, while China grows by US$10.3bn. Together they will account for 56% of all growth in ad expenditure over the next three years. China’s growth rate is slowing, however, as its ad market matures. After years of being a production-led, high-growth economy, China is transitioning into a consumer-led developed economy, and its ad market is becoming more similar to other developed economies. Chinese adspend is forecast to grow 4.1% in 2020, compared to 4.8% in the US.

“ India is currently facing recessionary headwinds, with a GDP slowdown over seven quarters, mainly due to a dip in consumer demand, especially rural demand and a lack of credit in the market. While the short-term view is cautious, over a longer period, there is optimism that the economy will pick up again and emerge within the top 10 media markets globally.” said Tanmay Mohanty, CEO, Zenith India & Head Of Global Partnerships, Publicis Media India.

Infusion of funds into the economy by the Indian government, several policy changes to boost demand and increase liquidity in the market with future-focused initiatives to build digitised infrastructure, development measures like roads, transport, rural infrastructure and power being undertaken by the government would help revive the economy.
The Indian ad market has great potential for long-term growth, contributing just 0.3% of GDP this year compared to 0.6% in China and 0.7% for the world as a whole.

This is one media market where almost all formats continue to grow. Digital is accelerating due to falling data prices and is set to accelerate further with the advent of 5G networks, to be launched in 2022.

As the economy revives, the categories that would contribute to growth include CPG, Mobile Handsets, Telecom (5G launch), Ecommerce due to growth in digitisation and 5G.

Demand for advertising has grown consistently throughout this decade. To sustain market share, large brands need to maintain brand awareness among buyers and potential buyers, which requires regular, brand-building campaigns with mass reach. The same goes for smaller brands looking to grow their business. Meanwhile small businesses, which may not have advertised at all previously, have embraced targeted advertising on digital platforms and injected new demand into the market. Advertising expenditure has grown by 5.1% on average since 2010.

However, traditional mass audiences are shrinking: first print, and now television in key markets. Many lost audiences are replacing television viewing with non-commercial video like Netflix, Amazon Prime Video, HBO, and eventually Disney+, reducing available audiences and creating fragmentation. The use of adblockers means that some audiences have low exposure to digital advertising. This rising demand and falling supply is increasing prices rapidly. The supply of commercial audiences has shrunk by 1.3% a year on average since 2010, according to exclusive Zenith research, while media inflation has averaged 6.5% a year.

“The days when we could find audiences all in one place are long gone. Now, however, technology empowers us to find them wherever they are, online or offline, and win back value for our clients through efficiency and effectiveness – by ensuring that we target and reach consumers with the right message at the right point in the consumer journey,” said Matt James, Global Brand President at Zenith.

US-China trade war to counter the quadrennial effect in 2020
Next year is a ‘quadrennial’ year, benefitting from the Summer Olympics, UEFA Euro 2020 and US Presidential elections, which occur every four years. These ad expenditure stimulants are expected to add US$7.5bn into the global ad market. In normal circumstances, adspend growth in 2020 would be comfortably above this year’s growth rate. However, forecasted 4.3% growth next year is barely above 2019’s estimated 4.2% growth. The US-China trade dispute is disrupting economies across the world, interrupting supply chains and rerouting trade and investment. This is reducing growth and raising uncertainty, making advertisers more cautious about budgeting. Zenith estimates this economic headwind will cost the global ad market 1.1 percentage points of growth in 2020. Without it, the market would be up by 5.4%.

Online video and social media continue to lead growth
Online video and social media will remain the fastest-growing channels between 2019 and 2022, growing respectively by 16.6% and 13.8% a year on average, thanks mainly to continued increases in consumption on smartphones. Cinema will be in third place with 11.5% annual growth, driven by surging demand in China, but will still only account for 0.9% of global adspend in 2022.

Television will record zero growth over the next three years, as price inflation counterbalances the decline in global audiences. Prices are rising for printed newspapers and magazines as well, but not quickly enough to compensate for the persistent and rapid decline in readership. Newspaper adspend will shrink by 4.5% a year to 2022, and magazines will shrink by 8.1% a year.

“As geopolitical tensions wipe out most of the expected gains from sport and elections, 2020 will be a disappointing quadrennial year for the ad market,” said Jonathan Barnard, Zenith’s Head of Forecasting. “If the trade war is settled, we are more confident for 2021, forecasting 4.5% growth in global adspend despite the absence of the quadrennial events.”

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In new campaign, Rajkummar Rao highlights perils of not having Lay’s at home

The campaign is created by Leo Burnett

By exchange4media Staff | Mar 21, 2023 4:29 PM   |   3 min read

Lay's

Lay’s has launched a new campaign with actor Rajkummar Rao to remind consumers to have ‘Ghar Par Lay’s Always’!

“At-home experiences and occasions are best enjoyed with friends and family, and a pack of Lay’s makes these moments even better. But running out of Lay’s can interrupt the good times and may even induce last-minute panic to restock. In the campaign, Lay’s has hilariously drawn attention to the outcomes of last-minute restocking trips,” the brand said.

The introduction of the latest TVC under the ‘Ghar Par Lay’s Always’ campaign speaks to the consumers on the perils of not stocking-up Lay’s at home.

Directed by Vinil Mathew, the TVC film opens with Rajkummar throwing a costume party at home with himself dressed as a burglar. When his girlfriend (played by Dolly Singh) informs him that they've run out of Lay's, Rajkummar nervously heads out to the grocery store, starting a series of comedic mishaps. From being mistaken as a real burglar by the public to getting arrested by the police, his hilarious roller-coaster of misadventures concludes upon his release from jail, when he tells a jail warden curious about his imprisonment that “Mai toh sirf Lay’s lene gaya tha”. The TVC ends on an entertaining note as Rajkummar explains his Lay's misadventures to Dolly and proudly shows off his fully stocked pantry with Lay's, remarking, “Isliye…Ghar pe Lay’s Always!”.

Speaking about being part of the TVC film, Rajkummar Rao, expressed, “For years, Lay’s, with its iconic and irresistible flavours has been my favourite snack. When the brand reached out for their 'At Home' film, I was instantly drawn towards the comical and playful script because I have always related to the frenzy of keeping my home stocked with Lay’s. I had a lot of fun filming the TVC and I am definitely going to have ‘Ghar Par Lay’s Always’. I hope the audience enjoys the film and ensures Lay’s is a part of all their joyful moments at home.”

Expressing her excitement at the TVC, Shailja Joshi, Director-Marketing, Potato Chips Category, PepsiCo India said, “At Lay’s, we are committed to infuse a sense of joy into our consumers’ lives and uplift their consumption experiences with our distinct offerings and relatable storytelling. Our newest TVC film for ‘Ghar Par Lay's Always’ perfectly captures the central role that Lay's plays during at-home occasions. We're thrilled to have associated with Rajkummar Rao for this campaign and he has fantastically brought this messaging to life in the film. We hope that it will prompt Lay's fans to always keep their favourite Lay’s well-stocked at home and experience fun uninterrupted."

The campaign is created by Leo Burnett.

Speaking about the campaign Rajdeepak Das, CEO & Chief Creative Officer, Leo Burnett - South Asia, said, “Lay’s has always been the perfect snack partner and with this film we wanted to reiterate to the audiences to stock up their favourite Lay's at home. With this hilariously exaggerated cautionary tale starring Rajkumar Rao, our film gives people a glimpse into the perils of not having 'Ghar Par Lay's Always'! If you don't have Lays, anything can happen.”

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Airtel launches new brand campaign to show ‘limitless possibilities’

The TVC campaign has been conceptualised by DDB Mudra

By exchange4media Staff | Mar 21, 2023 1:57 PM   |   2 min read

Airtel

Bharti Airtel has rolled out a new brand campaign.

The campaign highlights the clear advantage and limitless possibilities that Airtel 5G Plus offers to its customers in a very contemporary manner.

Shashwat Sharma, Director of Consumer Business, Bharti Airtel, on being asked to comment on the campaign had this to say, “I would first like to take this opportunity to thank our 10 million happy 5G users who have embraced ultrafast Airtel 5G Plus. Customer obsession is what drives us at Airtel and we have taken the lead to simplify the new technology and get our customers to experience the real difference of 5G. Airtel 5G Plus, while delivering incredible speeds and the best voice experience, will work on all 5G smartphones and be kinder to the environment. Additionally, all our customers will be able to enjoy the advantage of 5G services using their existing SIMs at no additional cost. We invite more and more customers to experience the power of limitless possibilities on Airtel 5G Plus.”

The TVC campaign has been conceptualised by DDB Mudra and produced by Equinox Films.

The Airtel 5G Plus TVC has been dubbed in 12 languages and will be localized for audiences all across the country as it is rolled out in full strength.

The 360-degree, high-decibel campaign will be extensively seen across diverse mediums like Television, digital and OOH over the next few weeks.

Commenting on the film, Ram Madhvani, Founder & Director, Equinox Films, had this to say, “The thing I’ve learnt in advertising is that it’s not just about ‘what’ is being said or ‘how’ it’s being said but also about what the audience ‘feels’ when it ‘sees’ any piece of communication. Our film is an example of this. We have tried to create a visceral experience for the audience to create a feeling of speed and future-ready technology which is what Airtel 5G Plus is actually about.”

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Goafest to be held on May 24-26

The 16th edition of the advertising fest will take place at Grand Hyatt, Bambolim, Goa

By exchange4media Staff | Mar 21, 2023 1:47 PM   |   3 min read

goafest

South Asia’s biggest advertising festival, Goafest is all set to make a grand return. Co-hosted by The Advertising Agencies Association of India (AAAI) and The Advertising Club, Goafest 2023 is scheduled to take place on 24th, 25th and 26th May at Grand Hyatt, Bambolim, Goa. The prestigious fest will also witness the 54th edition of the ABBY’s, South Asia’s Gold standard, that has been recognizing creative excellence in advertising for over five decades. 

Goafest is the definitive annual festival for the advertising, marketing and media industry that attracts over 2000 industry professionals. The festival is an eclectic platter of knowledge, recognition, networking and celebration that makes each day at this 3-days event a remarkable experience. In addition to presentations and sessions by leading industry experts, Goafest 2023 will host a total of 10 knowledge-sharing masterclasses, the highest to date. The upcoming edition of the festival is also expected to have increased participation and presence from advertisers. 

Announcing Goafest 2023, Prasanth Kumar, President, the Advertising Agencies Association of India and CEO, South Asia GroupM said, “Goafest has cemented its position as the most admirable creative festival in South Asia that truly brings together the best of creative and marketing professionals. Our goal is to offer our industry colleagues three power-packed days of learning, engagement, interactivity and curiosity. We are confident that this year's edition will be the biggest and best yet, leaving each attendee with valuable learnings and benefiting the industry as a whole.” 

“Year after year, Goafest has evolved and innovated, making it the most relevant advertising festival in India. From knowledge-sharing sessions to exclusive speakers, we are certain of having guests from across the globe that will benefit the industry, especially younger professionals, this year as well. For the first time, various committees involving senior industry leaders have been formed thus making the event all-inclusive and broad-based for the entire advertising industry. We look forward to curating a festival that drives participation and empowers the fraternity thus positioning India as a sharper contender in the global advertising landscape.” added Jaideep Gandhi, Chairperson Goafest 2023. 

Partha Sinha, President, the Times of India group and President of The Advertising Club, further added, “We believe it is imperative that we celebrate the industry and Goafest enables us to do exactly this. The festival empowers the industry to push creative boundaries and think beyond existing possibilities. We look forward to another year of firsts at Goafest 2023 and encourage India’s creative economy to participate actively.” 

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Asian Paints says ‘Shauq Ki No Limit’ in new campaign

The campaign has been conceptualised by Ogilvy India

By exchange4media Staff | Mar 21, 2023 1:04 PM   |   2 min read

Asian Paints

Asian Paints has launched “Budget mein fit. Shauq ki no limit.” campaign.  Conceptualized by Ogilvy India, in the campaign, the paints are shown to be an ideal solution for homeowners seeking good quality paint within their budget.

The campaign tells a humorous story of a colleague who can fulfil his wishes in his newly painted house, thanks to Tractor Sparc & Ace Sparc Emulsion.

As part of the TVC, the brand has also created a fun, snappy jingle that will stay in consumers' minds and help generate high recall. The jingle conveys Tractor Sparc and Ace Sparc Emulsion's value proposition as high-quality, cost-effective paints that will allow consumers to fulfill other desires through savings on these paints.

Speaking about the new Tractor Sparc & Ace Sparc campaign, Amit Syngle, Managing Director and CEO, of Asian Paints Ltd., commented, “In our endeavor to offer smart, value-for-money offers to the consumer and truly democratize the home décor market, we continue to innovate and launch solutions which offer customer strong propositions. This customer is willing to upgrade to branded solutions, accompanied by a strong quality and décor promise. The new campaign takes quite an entertaining route to communicate the value-for-money proposition of Tractor Sparc and Ace Sparc emulsions.”

Sukesh Nayak, Chief Creative Officer, Ogilvy India, said, “Asian Paints Tractor Sparc & Ace Sparc Emulsion are cost-effective paints that promise to offer a rich finish for interior and exterior walls at low cost. Our new campaign highlights the benefit of this feature with an enjoyable take. What the world thinks when they notice the amazing paint job, and also the things that are bought to fulfill the wishes, with the money saved from the cost-effective paint.”

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Edelweiss Mutual Funds TVC talks of visibility of returns

The ‘Kitna Milega’ campaign showcases Target Maturity Funds' unique investment approach

By exchange4media Staff | Mar 21, 2023 12:34 PM   |   1 min read

mutual fund

Edelweiss Mutual Funds has unveiled its TVC brand campaign ‘Kitna Milega’, which focuses on Mutual Fund products that are designed to provide visibility of returns.

The ad campaign showcases Target Maturity Funds' unique investment approach, which offers investors visibility of returns* on their investments provided they stay invested till the maturity of the fund. This campaign will also have presence on print media, outdoor and digital and social media.

Speaking about the campaign, Radhika Gupta, MD & CEO, Edelweiss MF said, "Inherently we have heard investors always asking ‘How much return will I make in this product’ before they choose to invest in any financial product/ Mutual Funds. Investors want simple products that provide visibility of returns.

We have picked this insight of ‘Kitna Milega’ to build on the communication for Target Maturity Funds. These funds are structured and designed in a way to give visibility of returns to investors and are simple in a structure like traditional deposits. Investors will be able to understand and invest in this category banking on the growing popularity of Debt Passives and Target Maturity Funds," she adds.

The campaign aims to convey a clear message about returns on investment that investors have while investing in mutual funds.

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Tanishq’s Ugadi film celebrates women creating own narratives

The film is a celebration of the brand’s Ugadi collection ‘Vardhini’

By exchange4media Staff | Mar 21, 2023 12:28 PM   |   2 min read

Vardhini

Tanishq has launched a heart-warming digital film for the auspicious occasion of Ugadi.

Tanishq’s first-ever digital film for Andhra Pradesh and Telangana is a tribute to every woman who is not only unique in her thoughts and stance but also supports her decisions by being her voice.

The film is a celebration of brand’s beautiful Ugadi collection ‘Vardhini’, which is inspired by rich culture and crafted with precision for the women who prosper and thrive in all their might.

Conceptualised by Tanishq and Mind Your Language, the 75-second digital film showcases a powerful narrative of how a woman of today believes in carving her own path, takes a stand for herself and weaves a magic of her own new narratives. The film is an ode to the progressive women of today who want to create an identity for themselves, strongly believes in the importance of new beginnings and that life after marriage goes beyond motherhood.

Speaking on the launch of the film and the collection, Ranjani Krishnaswamy, General Manager – Marketing, Tanishq, Titan Company Limited said, “Today, women are yearning to carve an identity for themselves and are creators of their own narrative. The film is a tribute to the women who prosper and thrive in all their might and the Vardhini collection is truly a celebration of her extraordinary beauty and beliefs that make her stand apart.”

Deepan Ramachandran, Creative Director- Mind Your Language!, said “Tanishq, like the protagonist Swati in our Ugadi film, has always stood out with their progressive and new thoughts. Their brief to us was to straddle the conventional celebration of Ugadi with the new-age thinking of today’s woman. That’s when we asked ourselves - Why shouldn’t today’s woman dream differently? We found the answer in the story of Swati.”

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Mercedes-Benz talks of plans to go all-electric in digital campaign

The campaign ‘tells the story’ of the three-pointed star logo

By exchange4media Staff | Mar 21, 2023 10:50 AM   |   1 min read

Merc

Mercedes-Benz India has come up with an innovative social media campaign to "tell the story" of the three-pointed star logo and the company's plans to go all-electric by 2030.

Explaining the concept behind the logo, the campaign says that: "The upper blade stands for the air and by the air, we are inspired."

The carmaker has said going all-electric was part of its endeavours to slash its carbon footprint.

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