Advertising Industry has been most affected as most of the companies have slashed their advertising budgets. In India, traditional advertising still dominates the creative accounts. The new mediums i.e. Internet, mobile phones and video form a very niche part of the budgets.
The growth for the advertising industry will come from the new markets in Asia and Latin America, said Sir Martin Sorrell, CEO, WPP, the advertising and marketing communications conglomerate. He also mentioned that growth will be powered by new media such as the Internet, mobile phones and video.
India, scores high on new media and consumer insights, which are the emerging trends in the media and communications industry. Currently, clients spend 12-13 per cent of their budgets on online media, while users spend 20 per cent of their time online. So, the Internet is still under-used, he says. While newspapers will not die, the print media is in trouble as the balance shifts more in favour of online.
With around 400 million mobile users in India, the mobile phone is also going to become more and more important.
The recent global downturn has just highlighted the fact that new media and new markets are equally important.