![]() For instance, Amyn Ghadiali, President- Business & Integration, Gozoop Group, says that there has been steady percentage growth in H1 this year, compared to H1 2022. Some ad experts have a different observation. Reports at the start of this year predicted a significant growth in digital advertising expenses, but it did not turn out the way we had expected,” she said. “We did see a little dip despite having the Indian Premier League in the first half. Shradha Agarwal, Co-Founder and CEO of Grapes, echoes the sentiments. Shah adds that his own company has seen a brilliant first half on account of digital advertising. However, sectors like auto, FMCG, finance and startups that have good business models are still spending decently,” Shah noted. They have been among the top spenders over the past few years. “The drop in digital AdEx in India is mainly due to wrongly managed startups or real money gaming firms. India is still not impacted too much because India has the X factor and the country is growing.” Sahil Shah, President, dentsu Creative, explains, “In the global perspective, the H1 witnessed funding winters as tech companies tightened their purse strings as money was drying up. ![]() Due to the crisis, they have curtailed their marketing and promotional activities drastically. Riding on the rise in influencer marketing, ecommerce, short videos, OTT, social media, Digital has been the fastest-growing distribution channel for brand marketers for the last couple of years.Įxperts blame it on popular unicorns in edtech, crypto and gaming sectors who emerged as top advertisers over the last few years but lately they have been embroiled in allegations of financial mismanagement. The digital ad growth has slowed down at a time when marketers are increasingly facing pressure to justify their ad spending, reduce wastage and deliver ROI. The digital AdEx is expected to end the year at Rs 43,000 crore. It is noteworthy that Digital AdEx commands nearly 40 percent of India’s total AdEx. The projected growth rate for digital ad spend for 2023 was 25%, as against 35 percent in 2022, as per the Pitch Madison Annual Report (PMAR 2023). Amazon, My11circle, Snapchat, Jiocinema App, Flipkart, Facebook and Prime Video and RBI were among the top 10 brands spending on digital. TAM’s data is based on over 81,000 Brands present in Digital Medium during Jan-Jun '23. As per TAM data, a degrowth of nearly 14 percentage points in digital ad impressions is visible in the H1 of 2023 compared to H1 of 2022 though it is still higher compared to 2021.Īlthough ad impressions don't indicate much about ad spends, it surely gives a glimpse of what is happening on digital platforms. TAM Media Research statistics obtained by e4m also indicate a little slump in the digital domain between January and June 2023 compared to H1 of last year. Massive layoffs by all four giants early this year points towards a downfall, industry experts claim. Scene will be clearer once Google India, Meta India, Amazon India and Flipkart, four major digital platforms for advertisements in India, will submit their annual report for FY 2023. “Digital ad spend witnessed nearly 15 percent growth in H1, which is quite low compared to H1 of 2022 when it grew in the range of 25 percent,” say industry experts say. After an exponential rise over the past couple of years, the growth engine of digital advertising has slowed down in the first half of 2023 as startups and crypto sectors tightened their purse strings, industry experts tell e4m.
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