Madison World 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)Medium2025Actual2025(Share)2026Forecast2026F(Share)2026F vs 2025(Growth)TV (Linear)32,85521%32,85519%0%Print20,86613%21,38812%3%Radio2,5152%2,3881%-5%Cinema8771%9211%5%Outdoor4,8353%5,0773%5%Total Traditional61,94840%62,62936%1%Digital (Includes E-comm + CTV)53,34234%63,00036%18%Digital - Q-Comm4,0003%6,0003%50%Digital - MSME35,81423%42,97625%20%Total Digital93,15660%111,97664%20%Total ADEX155,104100%174,605100%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 marketUnder 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: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.Retail Media C Quick Commerce Within core Digital, E-commerce, 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.MSME DigitalPMAR 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.
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