AdEx zoomed 37% in 2021 despite Covid second wave: Pitch Madison Report 2022

AdEx surpassed 2019 figures by 10 per cent last year, growing to Rs 74,231 crore.

Mumbai: The total advertising expenditure (AdEx) in 2021 grew at an unprecedented 37 per cent to Rs 74,231 crore, despite the treacherous second Covid-19 wave, which crippled the economy and AdEx for almost three months of May, June and July for the second year running. This is according to the latest flash figures of AdEx estimates released by Pitch Madison Advertising Report.

In a departure from the convention, the Pitch Madison Advertising Report 2022 released flash figures of AdEx estimates only for 2021. Contrary to its own forecast of 26 per cent growth in February 2021, which meant AdEx in 2021 would not even reach 2019 levels, AdEx has comfortably surpassed 2019 figures by 10 per cent, the flash report estimates. An exhaustive report giving medium-wise figures, forecast for 2022 and commentary will be released three weeks later, the agency said.

AdEx has not registered a 37 per cent increase in the last two decades for which figures are available. The closest it has registered was a growth rate of 22.9 per cent in 2007. For context, in 2020 AdEx had de-grown 20 per cent over 2019.

“The two Covid years of 2020 and 2021 have altered the structure of AdEx, but Indian AdEx has shown that it is resilient and contrary to expectation surpassed 2019 AdEx level,” says Madison World chairman Sam Balsara. “Whilst Covid Wave I had a disastrous impact on AdEx, India Inc has taken the more deadly Covid Wave II in its stride and despite a setback of four months has not only recovered during the year itself but also comfortably surpassed 2019 levels.”

Detailed medium analysis of AdEx in 2021 with a commentary along with forecast for 2022 will be released on 16 February in Mumbai at the hands of the newly appointed Godrej Consumer Products Ltd CEO Sudhir Sitapati, who will also deliver a talk on the “The New Marketing Playbook,” said the agency in a statement.

Latest Reads
Byju’s onboards Jiten Mahendra as VP & head marketing

Edtech major Byju’s has onboarded Jiten Mahendra as the new vice president & head marketing.

MAM Marketing MAM
FCB India wins India's First Fusion Pencil at One Show 2022

Mumbai: FCB India wins India’s first Fusion Pencil at the coveted One Show 2022! The agency won this honour for their campaign The Nominate Me Selfie for Political Shakti & The Times of India. FCB also bagged a Silver Pencil for UNAIDS The Mirror - See Me As I Am campaign. The One Show Fusion...

MAM Marketing MAM
IPL campaign was a critical milestone towards becoming synonymous with quick-commerce: Zepto CMO

MUMBAI: Ten-minute grocery delivery app and the youngest entrant on the quick commerce scene, Zepto launched its latest IPL campaign last week. Crafted by L&K Saatchi and Saatchi, the third film in what has been a high decibel campaign in more ways than one considering it features powerhouse...

MAM Marketing MAM
ML & AI to play a key role for marketers in the third connected age: Rishad Tobaccowala

The world is now entering the third connected age and it is going to have a huge impact on various areas of advertising and marketing.

MAM Marketing MAM
Exotel appoints Udit Agarwal as VP and global marketing head

MUMBAI: The leading customer engagement platform, Exotel, has onboarded Udit Agarwal as vice president and global marketing head. He will be responsible for strategic and tactical marketing. Exotel is on a hyper-growth strategy drive and plans to hire 700 new employees this fiscal year. Prior to...

MAM Marketing MAM
Major League Cricket raises $120 mn funding, Microsoft CEO Satya Nadella among lead investors

MUMBAI: Microsoft CEO Satya Nadella is the leading investor in the $44 million Series A and A1 fundraising round by New York-based Major League Cricket (MLC), a T20 competition featuring six franchises that have been sanctioned by USA Cricket. The league is targeted to launch next year.

MAM Marketing MAM
The One Show 2022: Dentsu Webchutney bags 18 pencils for its ‘The Unfiltered History Tour’ campaign.

Mumbai: Dentsu Webchutney, the digital creative agency from dentsu creative group India has once again demonstrated creative excellence with its outstanding performance at ‘The One Show 2022’. The agency converted 21 shortlists into 18 pencils, three merits and a best of discipline across multiple...

MAM Marketing MAM
Weekend Unwind with: DCMN India's country head Bindu Balakrishnan

With another weekend upon us, it’s the time to unwind with some tete-e-tete that peeks into the mind of a corporate executive. An attempt to get to know the person behind the title a little better, by having them share their nuggets on life and their mantras to deal with the curveballs that life...

MAM Marketing MAM
1 percent improvement in marketing capability fit is linked 2.5 percent increase in sales growth: MMA Global study

As per a global study by MMA, a 1 percent improvement in marketing capability fit is associated with a 2.5 percent increase in sales growth and 2.35 percent increase in market value. Based on this insight, MMA has developed a structured approach by creating a capability fit map for organisations to...

MAM Marketing MAM