Mumbai, February 18, 2026: Madison World, in association with Pitch and Exchange4Media, today unveiled the Pitch Madison Advertising Report (PMAR) 2026, revealing that India’s advertising market reached ₹1,55,105 crore in 2025 under an expanded ADEX definition, growing 12% over 2024. By fully incorporating Quick Commerce (Q‑Comm) and MSME Digital spends into the market sizing, the report confirms that Digital already accounts for 60% of India’s ad market, with Traditional media at 40%.
India ADEX 2025 Actual and 2026 Forecast (₹ Crores)
|
Medium |
2025 |
2025 |
2026 |
2026F |
2026F vs 2025 |
|
TV (Linear) |
32,855 |
21% |
32,855 |
19% |
0% |
|
|
20,866 |
13% |
21,388 |
12% |
3% |
|
Radio |
2,515 |
2% |
2,388 |
1% |
-5% |
|
Cinema |
877 |
1% |
921 |
1% |
5% |
|
Outdoor |
4,835 |
3% |
5,077 |
3% |
5% |
|
Total Traditional |
61,948 |
40% |
62,629 |
36% |
1% |
|
Digital (Includes E-comm + CTV) |
53,342 |
34% |
63,000 |
36% |
18% |
|
Digital – Q-Comm |
4,000 |
3% |
6,000 |
3% |
50% |
|
Digital – MSME |
35,814 |
23% |
42,976 |
25% |
20% |
|
Total Digital |
93,156 |
60% |
111,976 |
64% |
20% |
|
Total ADEX |
155,104 |
100% |
174,605 |
100% |
13% |
On the legacy definition used in earlier PMAR editions, ADEX grew 7% to ₹1,15,291 crore, with Digital at 46% and Traditional at 54%, providing continuity with previous years and global benchmarks. Together, the two series show the same reality from different angles: headline growth has moderated, but the structure of Indian ADEX has flipped decisively in favour of Digital.
A bigger, more Digital, more complex market
Under the expanded definition, Total Digital ADEX in 2025 stood at ₹93,156 crore (60% share), up 22% from ₹76,261 crore in 2024, while Traditional media declined 1% to ₹61,949 crore (40% share). Digital comprises three components: core Digital (Search, Social, Video, Display, Ecommerce), Q‑Comm advertising (₹4,000 crore) and MSME Digital spends (₹35,814 crore).
PMAR 2026 forecasts that, on this expanded base, India’s ADEX will reach ₹1,74,605 crore in 2026, implying 12–13% growth and pushing Digital’s share to about 64% (₹1,11,976 crore). On the old definition, ADEX is expected to grow about 9% to roughly ₹1,25,600 crore, underlining that incremental market value is now being created primarily in new‑age Digital ecosystems.
Three engines powering India’s ADEX: PMAR 2026 identifies three structural engines behind India’s advertising growth:
1. Large Screen (TV + CTV)
In 2025, Linear TV ADEX fell 5% to ₹32,855 crore and TV ad volumes dropped 10%, driven by FMCG cuts, smaller advertiser exits and genre shifts away from commodity GECs. Yet when Connected TV (CTV) is added, Large Screen (TV+CTV) grew to ₹38,855 crore, up by approx. 4%, with CTV alone doubling to an estimated
₹6,000 crore. For 2026, PMAR forecasts Large Screen to rise to about ₹40,855 crore (+5%), with CTV expected to grow by another third to about ₹8,000 crore, even as Linear TV remains flat. Video budgets are being redistributed from Linear TV into CTV and premium sports/impact properties, not exiting the television screen.
2. Retail Media C Quick Commerce
Within core Digital, Ecommerce and Retail Media advertising reached ₹10,257 crore in 2025, growing 27% over 2024, making Retail Media one of the fastest‑growing components of Digital ADEX. In parallel, Q‑Comm advertising on platforms like Blinkit, Zepto and Swiggy Instamart scaled from ₹1,325 crore to ₹4,000 crore, a 202% jump. PMAR 2026 projects Q‑Comm ADEX to touch about ₹6,000 crore in 2026, implying 50% growth and cementing its status as a core performance engine. Together, Retail Media and Q‑Comm now represent a five‑figure‑crore “media‑to‑money” engine.
3. MSME Digital
PMAR 2026 estimates that MSME Digital advertising spends stood at ₹35,814 crore in 2025, up 21% over 2024, and are expected to grow 20% to about ₹42,976 crore in 2026.
MSME budgets already represent about 38% of core Digital ADEX, making this “invisible majority” of small and mid‑sized advertisers collectively almost as large as either Linear TV or Print as standalone media.
Read more: Madison World’s Milan Modi Speaks: Crafting Success in Digital Advertising
