Advertising spend is predicted to increase by 20–25% in the second half of 2023.

The Cricket World Cup, festive season, and postponed ad spending due to a rainy summer are expected to drive advertising spending to a record 20–25% year-on-year growth in the second half of 2023.

E-commerce, FMCG, apparel, fintech, banking, and hospitality are expected to lead the advertising campaigns.

The upcomingCricket World Cup in India, which coincides with Diwali, will lead to a significantly larger advertising season than the previous year. The second half of the year will likely see the launches that were delayed in the first half of the year due to unusually heavy rains.

Cricket has two major events scheduled for the second half of 2023: the Asia Cup and the ICC Cricket World Cup. In addition, new entertainment shows and reality show seasons will also premiere in the second half of 2023. And to have all of this during the holiday season is the icing on the cake for the advertising industry.

The upcoming Cricket World Cup 2023 in India will add excitement to the growth of advertising.

Companies manufacturing summer-oriented products such as soft drinks, ice cream, and refrigerators have their eyes on the second half to make up for the decline caused by the rainy summer.

Since the summer has been difficult, it is anticipated that there will be an increase in ad spending in the second half as brands focus on connecting with their customers beyond the summer.

Advertising spending on electronic appliances, particularly refrigerators, is expected to be high during this holiday season. Television brands are also likely to increase their advertising spending in preparation for the upcoming Cricket World Cup.

However, the latest goods and services tax of 28% levied on online gaming brands, who typically spend a lot of money on advertising, may have an impact on overall advertising spend unless the government rolls back the GST.

According to a forecast, India's advertising expenditure will increase by Rs 20,000 crore in 2023, with a 15.5% year-on-year increase due to the expansion of 5G services and affordable smartphones.

The Cricket World Cup in India, which will take place from October 5 to November 19, has already increased airline and hotel rates by more than 300%. The rates may rise even higher during crucial matches, such as the India-Pakistan match scheduled for October 15 in Ahmedabad.

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