Covid Second Wave notwithstanding, AdEx zooms 37% last year, notes Pitch Madison Report 2022

25 Jan,2022

By Our Staff


AdEx in 2021 grew to Rs 74,231 crore, having grown at 37%, despite the Covid Second Wave which for the second year adversely impact the economy and AdEx for the three months of May, June and July, notes a teaser from the Pitch Madison Advertising Report 2022. Contrary to its own forecast of 26% growth in February 2021, which meant AdEx in 2021 would not even reach 2019 levels, AdEx has comfortably surpassed 2019 figures by 10%.


In a departure from convention, the Pitch Madison Advertising Report 2022 released flash figures of AdEx estimates only for 2021. An exhaustive report giving medium wise figures, forecast for 2022 and commentary will be released three weeks later – February 16, 2022, to be precise.


The flash report estimates that total AdEx has not registered a 37% increase in the last two decades for which figures are available. The closest it has registered was a growth rate of 22.9% in 2007. For context in 2020, Adex had degrown 20% over 2019.


Said Sam Balsara, Chairman – Madison World, “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 levels. Whilst the Covid First Wave had a disastrous impact on AdEx, India Inc has taken the more deadly Covid Second Wave in its stride and despite a setback of four months has not only recovered during the year itself but also comfortably surpassed 2019 levels.”


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