The Indian media and advertising industry is feeling the pinch of the global slowdown. It grew just 8% to cross Rs 25,000 crore in 2011, and is expected to grow just 9% in 2012. But Animesh Das reports that the second half of the year may bring some cheer.
First the facts: The annual pitch Madison media advertising outlook shows that in 2011, the industry grew a paltry 8% against an estimated 17% and this sluggish growth is expected to continue in 2012. The report says the industry will grow at 9% in 2012, with overall revenues crossing Rs 28,000 crore.
However, the advertising fraternity remains confident this sluggishness is just a passing phase.
"India is a growing economy and you can't hold this growing economy down for too long,