Amid note ban and GST, ad spend seen growing in double digits

Magna sees 11.5%, Dentsu 13% jump for 2017; sector to touch Rs 61,000 cr this yr

Disruptions such as demonetisation last year and the goods and services tax (GST) roll-out are hardly going to affect advertisement budgets in the country, according to two mid-year forecasts of media agencies on Thursday.

Magna, part of IPG Mediabrands, and Dentsu Aegis Network have forecast advertising expenditure (adex) growth rate in the country for the year at 11.5 per cent and 13 per cent, respectively, lower than the two agencies’ previous estimates. Magna had forecast adex growth rate of 13.5 per cent for 2017, in December 2016, and Dentsu 13.9 per cent in September last year. These forecasts did not