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    Ad expenditure up 37% YoY to ₹74,231 crore in 2021

    Synopsis

    The growth happened despite the impact of the second wave of the Covid-19 pandemic which crippled the economy for almost three months from May last year

    Advertising out-sourced
    The overall advertising expenditure (adex) grew to ₹74,231 crore in 2021, an increase of 37% year-on-year and 10% over that in 2019, according to the Pitch Madison Advertising Report 2022.

    The growth happened despite the impact of the second wave of the Covid-19 pandemic which crippled the economy for almost three months from May last year, it said.

    In February last year, the report for 2021 predicted a year-on-year growth of 26%, which would have meant that adex in 2021 would not have reached the 2019 level. "Adex has comfortably surpassed 2019 figures by 10%," said the report.

    The 37% growth in 2021 is the highest in the past two decades, albeit on a low base owing to the 20% decline in 2020 following the nationwide lockdown.

    "The two Covid years of 2020 and 2021 have altered the structure of adex, but Indian adex has shown that it is resilient and, contrary to expectation, surpassed 2019 adex levels," said Sam Balsara, chairman, Madison World.



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