 It is time for me to invite the man who absolutely needs no introduction. When he's recognized as one of the most influential persons in media and entertainment industry, and in the country, to be in Madison as the largest independent media agency in the country. The more than 30 years at the forefront of media and advertising industry, Mr. Bansaraj Chairman of Madison World has a portion of knowledge and he's signed that very few in this industry have. We are now at the honor and privilege of inviting ladies and gentlemen, Mr. Bansaraj. I'm delighted to stand here in the first seat before you. And it was wonderful to be many of you over a cup of tea and a gloria. To celebrate the occasion as you can see, I'm wearing my suit, which I've probably been wearing after a gap of two years. It will always be a personal future. For those of you who are actively involved in media, we've been through a roller coaster ride the last two years. After the drastic pro-form in 2020, we have begun to see the climb. And hopefully, in the near future, dips in ad-ex are a thing of the past. As you told you in 2020, or rather in 2021, about 2020, that the years saw a dip of as much as 20%. But as some of you know and you already put out this demo, a 21 has seen a dramatic 37% increase, surpassing our own forecast of 26%, which we put out last year. And when we had put this forecast out, many thought it was a bit more optimistic. But also, with this growth, 2021 has crossed the figure of 2019 and now rests, ad-ex rests at 75,000 crore, 10% higher than 2019. By now, one is experiencing a much higher rate of growth for digital than traditional. But traditional also did not disappoint and has grown by as much as 31%. Digital, which never fades to surprise, has grown by a phenomenal 50%. In 2020, as you know, digital was the only medium to grow, though by a modest 10%, but with a 20% growth last year, it has more than made up for 2020's epic growth. Looking at 2021 as against pre-COVID year 2019, digital has grown by a whopping 64%. But traditional media, even with a 31% growth in 2021, is still 6% lower than the 2019 figure. Now, each of the waters also behaved very differently. Age 2 contributed as much as 60%, understandably, water to register the highest growth in percentage terms, but it is the only water that debuted compared to 2019. Water 4 grew by a dramatic 49%, even over pre-COVID 2019, thanks to IPL and the festival season. Water 4 of last year contributed as much as 35% to the year and water 2 contributed the least at 17% because of the draconian COVID wave 2. From a historical perspective, last year witnessed the highest growth. We have seen the last two decades. The second highest growth, as now our preferred tool, was 28% achieved in 2010. Now, looking at what happened in the global index, or the global ad-ex, what estimates that global ad-ex now stands at 585 billion US dollars, registering a rate of 21% over 2019 and 18% over 2019. These, I must highlight to you, are indeed very, very high growth rate figures for global ad-ex, which in the last eight years, pre-2019, has grown for an amount annual growth rate of just 5%. So last year's 5%, last year, we are at 9%. So, not just in India, for advertisers around the world seem to be spending money on advertising with the vengeance. India has once again become the fastest growing advertising market of the world, followed by Australia and UK, which both grew also at pretty astounding rates of 35%. The humongous US market, which contributes nearly 46% to global ad-ex, also grew as much as 22% triggers that you would never ever associate with US ad-ex. India, as we all know, continues to be a minor player in terms of size on the global ad-ex stage with a share of just 1.5%. Looking at growth rates of individual mediums, digital has grown by a dramatic 64% over 2019 and TV2 has grown by 11%. TV is the only traditional medium that has crossed its 2019 level. I would say print the second largest traditional medium has performed well, registering a growth of 39%, but it could not cross its 2019 level, having fallen substantially short by as much as 17%. Similarly, outdoor and radio also grew over 2020 significantly by 69% and 36%. But unfortunately, I know where we are at 2019 levels because of the sharp drop they registered in 2020. TV in our view continues to dominate ad-ex with a 38% share, but it has dropped 4 percentage points against last year, gaining 1% share point over 2019. Digital continues to rise both in value and share and grew its share by 3 percentage points from 31 to 34%. The combined share of cinema, radio and voyage has now dropped from 10% in 2019 to 5% in 2021. Traditional media, as you can see from this chart, has further moved down from 69% to 66%. A steady decline accelerated in recent years from a 92% share in 2012. TV and digital are of course the two big boroughs of ad-ex, both in India and globally, though in different proportions. TV plus digital is at 72% in India and globally at 87%. Looking at categories amongst traditional media but only on TV, print and radio for which we have reliable data, the big story of the year which essentially blows the price to anyone is that spent on e-commerce and new age companies has almost doubled from 3,000 crores to 6,000 crores, taking it share up from 8.5% to 13% now. With the advent of cryptocurrency players and many fintech brands, BSSR also grew dramatically by 47% to reach close to 2,000 crores. FMCG, which continues to be the largest contributor, faced headwinds because of increased raw material costs and its share dramatically dropped from 38% to 34%. Possibly, that's the reason we later have a very interesting panel discussion on the relationship between stock market valuation and marketing spends led by Vita. In keeping with the technology boom, 15 new age companies or start-ups have now entered a top 50 list ordering the composition of this list. As expected, the list is dominated by FMCG with 15 players among the top 15 and 6 players among the top 10. Top 50 advertisers now account for 38% of ads and top 10 account for 18% of total ads. Television and digital together continue to be the favorites of top advertisers accounting for 88% of their total spends. Top 50 advertisers now spend as much as 30% of their budget on digital alone, up from 14% last year. While TV River continues to top the list consistently over many, many years, Amazon reappears at number 2, Dream 11 at number 3, Rekid at number 4 and Baichu's at number 5. The next 5 brands in our elite list are PNG, Reliance, Google, Now itself a very large advertiser, Bondilis and ITC. We have as many as 14 new advertisers in our list this year compared to 10 last year. Upstock, cred, netmates, policy buzzer, Unacademy and Whitehead Junior are some of the new names that make it to our list. Also critically, there are a large number of shifts in the pecking order with 14 advertisers gaining rank and 21 losing rank. Among those who boot up many brands are Kornpe, My11 Circle, NIC, L'Oreal and MTF. Those who lost rank are Kornpe, Hero Motors, GSK, Samsung and PepsiCo. Let's now move to individual media. Let's see television first. TV ads put in a spectacular performance registering a high spend of 28,000 crores which represents a 25% growth in 21 and an even more impressive 11% growth over 2020. The only traditional medium that has comfortably surpassed the 2019 number of 25,291 crore by as much as 11%. TV got 4% in share points from a higher 42% last year to 38% in 2021. Whilst quarter one started softly with a de-growth of minus 6% over 2019, each subsequent quarter has gained steam with TV ads growing in size. Quarter three and quarter four 21 registered a sharp increase over the respective quarters of even 2019 and quarter four marginally surpassed the high base that we had achieved in the last quarter of 2020. The festival demanded quarter four 21 along with IPN 2020 World Cup and multiple reality shows has given this much needed boost to media. TV witnessed a 25% spike in ad volumes too and 11% against 2019. Significantly ad quarters, ad volume is positive across all four quarters compared to both 19 and 20 and many broadcasters as we know juggled with inventory to accommodate as many advertisers as possible and analysis of ad volume being by various genres shows that all genres have grown significantly in 2021 versus a year ago with the exception of English movies which registered a de-growth for the second consecutive year. It is significant to know that in spite of unavailability of bar ratings for the news genre news has registered a high growth of 19% over 2019 and 29% over 2020. Sports drama on account of IPN 2020 and many bilateral cricket tournaments is now the second in the pack in terms of absolute revenue. However, the genre's got de-growth of FCT of almost 17% as compared to pre-COVID levels. FMCG, the largest category in the country as I mentioned earlier, continues to lead the pack but is shared declined by 5 percentage points. E-commerce and education category increase by almost 2x to reach close to 5,000 crores and 1,600 crores. With an e-commerce in addition to online shopping many subcategories like mobile wallets online pharmacy and financial services were among the leading categories advertising on television. Telecom is the only sector that dropped its volume substantially from 8% to 4%. Let's see digital now in some detail. In 21, in our estimate digital has grown by a phenomenal 50% taking digital addicts to 25,438 crores with a share of 34%. Compare that to what Navar told us about 45 crores in 2004. Digital has grown from a share of just 6% over a decade to 34% today. It's just 4 percentage points lower now than the largest medium TV. The last time digital grew by 50% was way back in 2012 when it added just 750 crores but in 2021 it has added almost 8,500 crores. Despite digital going at a compound annual growth rate of 27% in last 10 years in India its contribution to total addicts is lowest amongst all major nations. Digital share of global advertising now stands at a mighty 65%. Looking at water wise figures predictably that the festival and resumption of IPL waterfall was the largest water when digital addicts cut almost 10,000 crores and contributed 39% to the full year what if you contributed the least at 14%. Almost all digital spends in India or in Mumbai with the latter commanding a 96% share programmatic has probably taken root in India and its share has been going up every year by a few percentage points and now stands at 42%. In terms of verticals video has the highest share of 29% followed by social and display at almost 20% each. E-commerce and search now contributes 16% each. In terms of growth rates e-commerce has grown significantly as much as 50%. Display, video and search have also all grown substantially by 30% plus. Now let's take a look at print. The second largest medium till 2019 print grew significantly by almost 40% to reach close to 16,600 crore following a 41% decline in 2020. Impact of pandemic on print industry in 2020 was so severe that it probably take a year or two more for print index to reach pre-COVID levels. Print in 21 as against 2019 is still down by 17%. Whilst print has been losing share year after year in absolute terms it has been gaining in index value year on year and grown from 11,970 crore in 2012 to cross 20,000 crore in 2019. And in 2021 it has clawed back almost 4,700 crore of the 8,100 crore it lost in 2020. Print index now has a 22% share and this would probably make India the print capital of the world along with Germany. No other country besides India and Germany has as higher share as 22%. The only countries that come close with much lower shares are smaller countries like France, Japan and Italy at around 8 to 11%. Also it's interesting and surprising to know that print index globally has a share of just 5% compared to 22% in India. Print index recorded a growth of 33% during festival season and grew massively by more than 18% in quarter two and quarter three in 21 over 20. In terms of category shares there is not much movement with auto dropping by 2% its points from 16 to 14 and FMCG by 1 point from 17 to 16. Auto's drop has been e-commerce's gain with the latter increasing its share from 3 to 5%. Three categories FMCG education and auto make up 45% of total print index and are almost equally divided with very marginal differences in share. Total ad volume also increased by 31% but degrouped by 16% versus 2019. Looking at print index by language English and history publications put together contribute 63% of total print volume. English publications have been the highest gainer in terms of ad volume and grew 40% over 2020. Hindi publications which are largest volume contributor also grew by 30%. All languages grew but the least were known are Kannada, Gujarati and Punjabi. Let's see what happened in Outdoor. In 21, Outdoor annex will increase by as much as 69% to reach close to 2200 crore for fair wage short of the figures achieved in 2019 by as much as 38%. In terms of share from a steady share of about 6% which enjoyed for many years till 2019, OH has slipped down to 3%. In our estimate a little over 2000 crores was spent in OH way below the almost 3500 crore spent in 2019 but substantially higher than 1300 crores spent in 2020. In fact, spends in OH are almost at similar levels to those we achieved in 2014. So a lot of catching up to do still. Looking at annex, quarter wise 70% of OH spent came in the second half and whilst Waterloo was severely suppressed water flow was above water that spent more than double over 20 and surpassed 2019. Looking at spends, category wise the top 5 sectors that contribute to over 70% of total Outdoor annex are real estate which leads to a share of 22% followed by retail, FMCG, BSI and consumer services. Compared to 2019 every category saw a big role. Let's check out Radio. Radio annex followed the same pattern as print annex. Having increased by 36% to reach close to 1750 crores however when compared to pre-pandemic numbers Radio annex is still far off 2019 levels and is down by 23%. In terms of share Radio which had registered a 4% share in 15, 16, 17 and 18 now stands at only 2%. Same share as what it had achieved last year. In terms of water by spends predictably water flow was the largest contributing 37%. In fact water flow registered a 46% growth of the same water last year and 21% over 2019. Radio since it has failed to recover and is estimated at about 1,700 crores takes Radio back to the year 2016. Every category registered significant growth in 21% travel and telecom. Education and commerce have registered highest growth of 96% and 71%. FMCG and VFSI continue to be the two largest categories up to a real estate which are generally heavy on radio are yet to recover to pre-COVID levels. Just five categories FMCG, VFSI, real estate and e-commerce continue to grow to 25%. Lastly let's review cinema. Thanks to three successful waves of COVID over two years cinema annexed 21 dropped by 25% as compared to even 2020 when all other mediums increase and dropped by a massive 87% over 2019 it ended the year with a measly 136 crores contributing a ministry 0.2% to annex. Cinema is the only medium to drop in size compared to 2020. In terms of absolute revenue in cinema we are at the same level as film and six. Let me now come to the hazardous cost of sharing with you our process for the year 2022. With India's nominal GDP expected to grow by 11 to 12% our outlook continues to be positive. Last year we projected 26% growth as I said earlier and we were surprised that annex grew 37% despite COVID wave 2. After a careful analysis of many macro and micro factors that are outlined in the election of our report we project annex to grow by 20% to reach almost 90,000 crores I don't know if this will satisfy your media friends but perhaps it will. With a growth of 20% on the heels of a 37% growth annex would have grown at a compounded annual growth rate of 18% over three years thus to a considerable amount blunting the havoc created by COVID in 2020 when annex did grow 20%. With a growth rate of 20% if our estimates come right and going by what estimates of what's happening in other countries India will continue to be the fastest growing annex and continue to be the fastest growing advertising market in the world followed by Russia at 14%, USA which is expected to continue forward march at 13% and China at 11%. We expect traditional annex to grow well again this year at 30% and digital annex by as high as 30% twice that of traditional on the back of video primarily driven by OPTI short video ads e-commerce performance marketing and connected TV key factors that will contribute to this 20% growth of batches in IPL and other major critical components new categories and new advertisers that continue to emerge in a new market like India organic growth coming from the largest contributor to TV market FMCG after the subdued 2021 and advertisers tech, bitcoin, mobile gaming and very e-commerce categories who are expected to rise and continue that bullish spent on TV though the acceleration is likely to be muted with the constraint of lower foreign inflows on the negative side inflation that has hit the world and India that would stay for half of this year could spoil the pot the pandemic has opened the eyes of many advertisers to the power of digital and given the continuously increasing penetration of digital in India we estimate digital to take another big leap growing by almost 8000 crores to 33000 crores and this will help it pip TV in the share gain and become the largest medium in Indian annex this year we expect the combined share of traditional annex to further come down to 63% from 66% TV will drop by 2% share point and print by 1% share point radio and OH will drop very marginally and cinema we expect will dramatically increase share from 0.2 to 0.6 of course we expect wide variation in growth rates across mediums with digital growing by 30% TV will drop by 14% and print by 13% we expect OH will suffer quite a bit in 2021 to grow by a dramatic 69% in cinema to grow almost 3 times we expect radio to grow by a modest 10% finally and as usual I would like to end with some piece of advice for all my advertiser friends my first piece of advice is to consider launching digital first brands to prepare for the future digital world which is likely to angle up to India take advantage of the evolved digital infrastructure available for both distribution and advertising my second piece of advice is to set up your own D2C distribution channels it could pay rich dividends in the near future D2C is expected to take off in India in a big way and my last piece of advice is for elite and natural audiences use HD more aggressively than what you do now because in our view Bach seriously under the pot HD hoax thank you very much ladies and gentlemen thank you very much ladies and gentlemen we just request you please be on stage if you can just join us back on stage I will now request Mona J. and Chief Revenue Officer to join us and present to you ladies and gentlemen Mr. Sraab just called my co-part by partner Ziyahu thank you for joining us on this and being a part of our incredible team I will now request Mr. J. for the much anticipated PISH Lannison Advertising Report 2022 here is the time where we are going to be presenting to you the PISH Lannison Advertising Report but we cannot do it without inviting a different race on the stage first up with your round of applause ladies and gentlemen Mr. Lava the Gujarat Co-Counder a change from India who is the founder of Lannison Media and the Executive Director Lannison World and Aminaj Kaurve CEO of ABP Network yes the planner it is time for us to reveal Lannison Report 2022 and as we are going to be passing on the coffees we request you all to please do be honest but as we will get all together and we are going to be doing a great moment with all your smiles we are going to be waiting for that hashtag moment right there ladies and gentlemen let's give them a huge huge round of applause as we reveal yes to keep your conversations going on Twitter yes the planner of the ABP Network 2022