Media buying agency GroupM has revised its estimates of annual advertising expenditure growth for 2014 to 12.5% from GroupM Logo11.6%, released earlier this year. This revision is part of the agency’s global report This Year, Next Year (TYNY) 2014, and indicates an improved sentiment in the Indian market, and increased expectation of advertising spends. The report also projects that India, along with Brazil and Russia, as the fastest growing ad markets in the world.

According to GroupM’s annual advertising expenditure report, released in February 2014, digital contributed to 6.5% of the total media advertising expenditure in 2013, up from 5.5% in 2012. It also estimated that digital media advertising revenues will register a 35% year-on-year growth in 2014.

Television: The new report estimates television ad spend will grow to 14.8%, up from 12% predicted earlier. Based on this, advertising revenues for 2014 will increase to Rs 19,355.5 crore from Rs 18,883 crore estimated earlier. In 2013, television ad revenue represented an estimated 43.7% of total media advertising expenditure.

Print: While there was no revision in terms of ad spends, the report projected that regional publications and local advertisers will lead the growth. And also predicted that government and retail ad spends will continue to increase.

The This Year, Next Year report is complied with data gathered from GroupM’s holding company WPP’s worldwide resources in advertising, public relations, market research, and specialist communications.

Facebook agency deal

It’s worth noting that Facebook signed its first agency deal in India with GroupM, earlier this year. This deal is expected to ease Facebook’s monetization woes in India.