New Delhi, May 6 (IANS) Digital advertising in India surprised expectations and grew at a fast clip of 33 percent annually between 2010 and 2015, with the total spend just shy of $1 billion, Morgan Stanley has said in a report.
"As a result, digital advertising as a percentage of total advertising grew from 4 percent in 2010 to 13 percent in 2015," the merchant banker and global consultancy said. The market in China, though, grew at 53 percent.
An analysis released last month, the Ficci-KPMG report on the Indian media and entertainment industry, has said India's digital advertising spending will reach around $4 billion by 2020, translating into a 26-percent share of the total Indian ad market.
It is also predicted to topple print media to become the second-largest medium after television. But overall, advertising market in India still remains small -- its total advertising spend was only 0.3 percent of GDP in 2015, compared to 1 percent in the US and 0.6 percent in China.
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