Manash Pratim Bhuyan New Delhi, Apr 24 (PTI) The media industry, among the first to see revenue dry up due to the economic slowdown, is expected to be one of the major beneficiaries of this election for which ad spend is pegged at around Rs 800 crore. Experts say the total advertisement spending by the political parties would be around Rs 800 crore.
The Congress and the BJP alone could spend over Rs 400 crore on ads on television, radio and newspapers. The major political parties are spending a significant portion of their poll budget on advertisements.
'The media sector is going through a bad phase as even leading MNCs are cutting back on advertising. So the advertisement spending by political parties will definitely help the media sector,' said Bhaskar Rao Chairman of Centre for Media Studies.
However, CEO of NDTV Media Raj Naik said a major chunk of the advertisement spending by the political parties is going to general entertainment and regional TV channels. 'The news channels are not getting that much,' he said.
Rao said most of the leading media houses have reported higher revenue generation in the fourth quarter of the previous financial year due to elections. Rohit Gupta of Adwaves Advertising, a media buying agency, said media sector will be benefitted by the election as it would 'infuse huge sums of money' into the industry.