By Sakshi Sharma

“Startups are poised to increase their advertising expenditures this year but in a more sustainable manner. This will contribute to the expanding Indian advertising expenditure (adex), which experienced some stability in 2023 after fluctuating between highs and lows since 2020," remarked Ashwin Padmanabhan, President of Investments, Trading, and Partnerships at GroupM.

With digital advertising claiming the lion's share of incremental ad spend at 70%, traditional platforms can continue to remain relevant by embracing digitisation and leveraging technology to innovate, Padmanabhan told BestMediaInfo.com.

Specifically pointing at TV as a medium, he said, “Embracing technology will keep TV relevant, while avoiding it may result in reaching fewer people over time, reducing opportunities for brands to participate.”

As IPL 2024 approaches, unlike last year, where the debate was about TV versus digital, Padmanabhan emphasised that advertisers noticed that both TV and digital performed exceptionally well and helped them reach out to a larger audience base.

Excerpts:

What are emerging trends in media spending that you foresee in 2024?

From the perspective of media spending, the year 2023 stood out as relatively stable compared to previous years. Since 2020, there have been periods of both high and low spending, with no single year showing consistent stability until 2023. In 2024, we anticipate this trend to continue, with some organic and inorganic growth. This predictability marks a significant positive shift from the fluctuations of the past four years.

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