having grown at an average rate of 15-18% over the five year period 2004-2008, it was but natural for the Indian media and advertising industry to expect a much better year in 2009. But none anticipated the dramatics of the market dynamics that were to unfold in 2009 – the ad pie shrunk by a full 10% and the revenues dipped to Rs.186.70 billion (as compared to Rs.207.17 billion in 2008). Be it print, outdoor or cinema, their ad revenues were bleeding to the extent that print media lost Rs.20 billion in ad revenues (a de-growth of 21%).The only industry segment which survived the onslaught was Internet, which grew by double digits clocking in revenues to the tune of Rs.4.53 billion (as compared to Rs.3.63 billion in 2008). The media and advertising fraternity would certainly like to forget the year 2009 and focus on 2010 wherein it is estimated that the advertising pie would be worth Rs.211.45 billion (a good 13% increase over 2009, considering the 10% dip). The media and advertising industry to a large extent is perception driven and as rates are beginning to firm up once again, the market will expectably be on the upswing. The industry forecasts are positive, television and radio are projected to grow at 15% and 20% respectively, while print media is all set to reverse the trend and grow by 9%. Clearly, with the worst over, these projections are in a way welcome relief for the industry.
Gyanendra k. Kashyap
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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