Growth market
WPP India revenue is now US$ 400 million and is expected to grow at 3-5% in 2009. Sorrell is confident about the future of the Indian advertising and communications market, "Although India has been affected by the recession the country is well on its way and will be at the forefront of economic growth in the future".
Indian trends
Sorrell believes that the power of the internet is yet to be fully harnessed. Currently, WPP clients spend 12-13% of their budgets on online media, while users spend 20% of their time online.
While print media is being challenged by online media, Sorrell predicts that the newspaper industry still has a future, "the role of the newspaper in India is stronger than any other place.... but the pressure will grow".
New money in new media
40% of Indian revenue comes from new media; while 60% comes from traditional mainstream advertising. This ratio is the reverse of other global markets. WPP expect this difference to narrow as internet penetration improves and 3G phones become the norm.
New Indian revenue will come from new media.
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