India’s advertising market has not just grown – it has structurally transformed.According to the Madison Advertising Report 2026 released by Madison World, India’s adex reached 1,55,105 crore in 2025 under an expanded market definition, reflecting 12% growth over 2024. Crucially, Digital now accounts for 60% of total advertising spends, marking a decisive shift in market composition.The revised sizing incorporates Quick Commerce (Q-Comm) and MSME Digital spends — segments previously outside traditional ADEX calculations — providing a fuller view of the ecosystem. Under this expanded lens, Traditional media’s share stands at 40%.Using the legacy definition maintained in earlier editions for continuity, ADEX grew 7% to ?1,15,291 crore in 2025, with Digital at 46% and Traditional at 54%. Together, the two measurement frameworks point to the same conclusion: overall growth has moderated, but the balance of power has firmly tilted toward Digital.A Larger, More Complex Digital EconomyUnder the expanded framework, Total Digital ADEX in 2025 stood at ?93,156 crore, up 22% from ?76,261 crore in 2024. In contrast, Traditional media declined 1% to ?61,949 crore.Digital’s 60% share comprises three components:Core Digital (Search, Social, Video, Display, Ecommerce)Quick Commerce advertising (?4,000 crore)MSME Digital spends (?35,814 crore)The inclusion of MSME Digital — often fragmented and platform-led — reveals the depth of decentralised advertising demand that had previously remained undercounted.Looking ahead, Madison’s report projects India’s adex to reach ?1,74,605 crore in 2026 under the expanded definition, implying 12–13% growth. Digital’s share is expected to rise further to roughly 64% (?1,11,976 crore).On the legacy base, adex is forecast to grow about 9% to ?1,25,600 crore — underscoring that incremental value creation is now concentrated in new-age Digital ecosystems rather than legacy media expansion.What is Driving this Growth?The report identifies three key growth engines reshaping the advertising economy: Large Screen: TV + CTVLinear TV ADEX declined 5% in 2025 to ?32,855 crore, with ad volumes dropping 10%, reflecting FMCG cuts, advertiser churn and genre shifts away from mass-market GECs.However, when Connected TV (CTV) is included, the “Large Screen” category (TV + CTV) grew to ?38,855 crore — up approximately 4%.CTV alone doubled to an estimated ?6,000 crore in 2025. For 2026, Large Screen is projected to rise to ?40,855 crore (+5%), with CTV expected to expand by another third to around ?8,000 crore, even as Linear TV remains flat.The implication is clear: video budgets are being reallocated, not withdrawn. Spend is migrating from traditional linear inventory toward CTV and high-impact sports or premium properties — preserving the television screen as a strategic medium while altering its economics.Retail Media & Quick Commerce: The Media-to-Money LoopWithin Core Digital, Ecommerce and Retail Media advertising reached ?10,257 crore in 2025, growing 27% year-on-year — making it one of the fastest-growing digital segments.More dramatic was the expansion of Quick Commerce advertising on platforms such as Blinkit, Zepto and Swiggy Instamart. Q-Comm ADEX surged from ?1,325 crore in 2024 to ?4,000 crore in 2025 — a 202% jump.Madison’s report forecasts Q-Comm advertising to reach ?6,000 crore in 2026, implying another 50% growth.Together, Retail Media and Q-Comm now form a five-figure-crore “media-to-money” engine — collapsing the gap between exposure and transaction and reinforcing performance-driven planning models.MSME Digital: The Invisible MajorityMSME Digital advertising, estimated at ?35,814 crore in 2025, grew 21% year-on-year and is projected to rise 20% to ?42,976 crore in 2026.These small and mid-sized enterprises collectively represent around 38% of Core Digital ADEX — positioning them as a force nearly as large as Linear TV or Print when considered individually.What was once considered fragmented local spending is now a structural pillar of India’s advertising economy.A Structural Flip, Not a Cyclical ShiftThe headline growth numbers — 12% under the expanded base and 7% under the legacy definition — suggest moderation. But beneath the surface, the architecture of the market has been irreversibly redrawn.Digital is no longer an adjunct channel; it is the primary engine of incremental growth. Retail Media, Quick Commerce and MSME participation are widening the advertiser base, while CTV is reshaping video economics without abandoning the large screen.India’s advertising market in 2025 is not merely bigger — it is more distributed, more commerce-linked and more performance-oriented. By 2026, with Digital projected to command nearly two-thirds of total ADEX, the centre of gravity will move even further away from traditional formats and toward transaction-integrated ecosystems.