IBEF: November 03, 2020
In spite of the ravages of the pandemic, India will see strong growth in video ad spending through FY22, Zenith, Publicis Media's RoI agency, stated in its newest video entertainment report. It said that in the calendar year 2022, ET estimates that brands are expected to invest 19% more in India than in 2019.
The nation has an increasingly growing appetite for video-on - demand, especially on smartphones. The study added that, unlike most Western nations, India's television ad market still enjoys rapid long-term growth and should bounce back quickly in 2021.
"FY21 will see a 4% rise, while FY22 will see a 9% increase in ad spending on TV compared to FY20," said Zenith Group CEO Mr. Tanmay Mohanty. It will be higher on OTT, about 24% in FY21 and 34% in FY22 over FY20." "Total TV households have increased by 40 million, and 90 million have increased the number of digital video users, " Mr. Mohanty added.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.