India's Ad market booms at 9.5% amidst global industry growth

A midyear report by GroupM predicts a positive outlook for the advertising industry with global revenue reaching $989.8 billion in 2024, reflecting a 7.8% growth. This momentum is expected to continue, surpassing the $1-trillion mark by 2025, a year earlier than previously anticipated.

India, a key player among the top 10 advertising markets, is projected to experience a significant 9.5% growth this year. Interestingly, political advertising in India contributes only 0.9% to the overall ad revenue, despite nearly one billion eligible voters going to the polls this year.

The report acknowledges potential roadblocks in the form of government regulations and the evolving role of artificial intelligence. However, it emphasizes the potential benefits of globalization and collaboration within the industry to navigate these challenges and ensure a bright future.