1. India to become 8th largest advertising market in 2023; GroupM
Tags: Reports National Economy/Finance
India is expected to overtake Brazil become the eighth-largest advertising market in 2023, according to GroupM’s global end-of-year forecast.
In 'This Year, Next Year 2022' report, GroupM has ranked India as the ninth-largest advertising market globally.
It says India's total advertising revenue in 2022 has grown by 15.8% to touch $14.9 billion, led by growth in pure-play digital advertising. In 2023, it is expected to grow by 16.8%
According to the report, the retail media in India is estimated at $551 million in 2022 and is expected to nearly double by 2027. TV advertising, representing 36% of the advertising market share, is expected to grow 10.8% this year and continue growing double digits, driven by strong growth in both traditional and connected TV.
Top Advertising market in the world
The United States is the largest advertising market in the world followed by (2) China, (3) Japan, (4) the United Kingdom, (5) Germany, (6) France, (7) Canada, (8) Brazil and (9th) India.
2. Prasanth Kumar of GroupM media elected as the President of AAAI
Tags: Person in news
Prasanth Kumar has been elected as the President of the Advertising Agencies Association of India (AAAI) for fiscal 2022-23 at its annual general body meeting on 29 November 2022. Prasant Kumar is presently CEO, South Asia of GroupM Media (India) Pvt Ltd.
Rana Barua, Group CEO of Havas Group India was unanimously elected Vice-President of the Association.
Kumar has an experience of over 25 years in the Industry. Before joining GroupM, he held positions at Pepsi, The Hindu, The Media Edge, and McCann Erickson.
He has served as AAAI's vice president from 2020 to 2022.
The 'Advertising Agencies Association of India' (AAAI) was formed in the year 1945 to further the interests of the advertising industry.
