India's advertising market to reach Rs 3,65,000 crore by 2028: PwC India

According to PwC India's "Global Entertainment & Media Outlook 2024-28: India Perspective," the Indian advertising market is poised for significant growth, reaching Rs 3,65,000 crore by 2028, driven by a robust 9.4% CAGR. This surpasses the global average by a considerable margin.

Digital advertising emerges as the key driver, with internet advertising expected to skyrocket at a 15.6% CAGR, surging from Rs 41,000 crore in 2023 to Rs 85,000 crore by 2028.2 Despite a remarkable 26.0% YoY growth in 2023, internet advertising will continue its double-digit growth trajectory throughout the forecast period.

While traditional TV advertising faces slower growth (4.2% CAGR), it will solidify India's position as the fourth-largest TV advertising market globally by 2026. Conversely, the print advertising sector, while experiencing global decline, is projected to grow at 3% in India, making it the third-largest globally by 2028.

India's internet advertising segment stands out as the fastest-growing in Asia-Pacific and the second-fastest globally, with a projected CAGR of 15.6%. The OTT market also exhibits significant growth, doubling by 2028 from its 2023 value of Rs 17,496 crore.

Furthermore, India's cinema market is experiencing robust growth (14.1% CAGR), and the music industry, encompassing live, recorded, and digital formats, is projected to reach Rs 10,899 crore by 2028, driven by a 10.3% CAGR.

Also Read: India's advertising market is anticipated to reach a projected value of US$15.84 billion