Digital is fast overtaking the traditional advertising mediums like Print, Radio and Television. As data becomes easily accessible and with smartphones making inroads to tier 1 and tier 2 cities, the digital advertising pie is witnessing aggressive growth in India.
As per the recently released Pitch Madison Advertising Report 2017, the digital advertising market had an impressive growth of 43% in 2016. From the last five years it has been growing at more than 30% every year. In fact, Digital is the only medium that has grown more than the earlier projections and the only sector that was not much affected by demonetization. The Digital advertising market has now crossed the Rs 7,300 crore mark.
The report also highlights how the consumption of Digital video content and hence spends on online video advertising have skyrocketed in 2016. The continued growth of Digital is fuelled by mobile, online video and social media, which are increasingly attracting more advertising investment.
Pitch Madison Advertising Report forecasts top trends of Digital Marketing in 2017:
- Spends on video ads are expected to show huge gains: Video ads are likely to be more popular in 2017 and will account for a major share of the overall ad spends in the digital space. This is largely driven by higher Internet speeds and an increase in mobile advertisements.
- Programmatic buying is likely to get more traction: Programmatic Buying has seen some traction in 2016 this is likely to get a little steam in 2017 due to its cost effectiveness and focused target audience reach as the murmurs on lack of transparency die down.
- Spends on Mobile advertising will increase: With more users on mobile, spends will be strongly focused on this platform; and whether it is Search, Social or Video, lion’s share of all ad impressions will be delivered on the mobile device.
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