By BestMediaInfo Bureau

GroupM ESP's 2024 Sporting Nation report released on Tuesday said that sports on television witnessed a 16% drop in revenue from advertising in 2023.

Brands spent a total of Rs 4620 crore ($Mn 557) on television, down Rs 886 crore from 2022.

The biggest contributor to ad spends has been TV, though the share has been coming down in recent years since digital media started scoring at a high strike rate with its Over-The-Top (OTT) hitting, the report highlighted.

"Television's share of total ad spends was 73% in 2022, which came down to 62% last year," the report said.

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