WPP Media sees cautious Indian ad market, but stronger festive spending ahead

India’s ad market is forecast to grow 9.7% to ₹2.02 lakh crore in 2026, though macro pressure has made advertisers more selective. WPP Media expects the festive quarter to outperform last year, led by auto, commerce and real estate, while CTV broadens its reach beyond metros.

— Source publishedTue, 1 Sept, 2026, 12:34 IST·First seen Tue, 1 Sept, 2026, 13:41 IST·Source ET Brand Equity

What happened

WPP Media says Indian advertising began 2026 strongly but macro pressures have made advertisers cautious. Festive spending could exceed last year, led by auto,

Key facts

  • India ad market forecast to grow 9.7% in 2026
  • INR 2,01,891 crore projected 2026 ad market
  • INR 17,844 crore incremental ad spend versus 2025
  • TV advertising volumes fell 7% in January-July 2026
  • CTV reaches about 200-250 million people
  • CTV reach could rise to 250-300 million people next year
  • CTV households: about 60 million
  • Linear TV households: about 160-180 million

Why this matters

CTV’s widening non-metro reach makes audience, measurement and regional-content capabilities attractive partnership or acquisition targets as advertisers seek more efficient festive-scale campaigns.

What to watch

  • Monthly auto sales, housing launches and consumer durable demand ahead of the festive season.
  • Festival-period GMV, traffic, conversion rates and discount intensity at major marketplaces and omnichannel retailers.
  • CPM inflation and sell-through rates for premium CTV, regional video and retail-media placements.
  • Consumer confidence, food inflation, interest-rate moves and unsecured credit delinquencies.
  • Brand budget shifts toward performance media, retail media and regional-language campaigns.
  • CTV household reach and advertising inventory expansion in Tier II, Tier III and rural markets.
  • Retailers should lock festive CTV, retail-media and regional-language inventory early while rates remain below peak-quarter levels.
  • Reallocate campaign plans around high-intent moments: financing launches, marketplace sale events, regional festivals and store catchment activation.
  • Build closed-loop measurement linking CTV exposure, digital retargeting, store visits, marketplace conversion and repeat purchase.
  • Prioritize value packs, exchange offers, EMIs and category-specific promotions to convert cautious consumers rather than relying on broad awareness alone.
  • Media owners should package CTV with regional digital and commerce data products for advertisers seeking incremental Tier II and rural reach.

Also reported by