Sources tell CNBC-TV18 that advertising revenue worth Rs 2,000 crore may be lost on an industry-wide basis. Ad spends on TV was the most hit, while digital platforms proved to be more resilient.
The demonetisation drive underway has had a debilitating effect on FMCG, auto and jewellery companies.
October-December usually makes up for 30-35 percent of total ad spends in the whole year. Big spenders like FMCG, consumer durables, realty companies have either cancelled or deferred their ad spends.
On the brighter side, credit card, mobile payment, e-wallet companies have increased their ad spends by 15-20 percent.
Ad spends are expected to stabilise over the next 1-2 months.
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