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Indian short-form video platforms generate $100 million in ad spends in FY24: Redseer report
According to the report, SFV platforms have crossed $200 million in revenue, with headroom for growth via monetisation including influencer marketing and virtual tipping.
Flipkart¡¯s Big Billion Days logs double-digit growth in topline, customer base: Walmart
The US retailer's chief financial officer John David Rainey says same-day delivery for Flipkart surged 2.5 times during the festive sale. Walmart had reported that its revenue from advertising had increased to 50% because of the ad business of Flipkart.
Google's antitrust case in the US: a timeline
Google, the internet giant, has an antitrust violation filed by the Justice Department of the United States that has been spanning for almost 4 years now, starting from October 20, 2020. Here is a timeline of the progress of the case throughout the years.
Nestle to cut costs by $2.8 billion, boost marketing under CEO Freixe
Nestle, aiming to revive growth, announced a $2.8 billion cost-cutting plan by 2027, alongside increased investment in advertising and marketing. The company projects a medium-term organic sales growth exceeding 4%, driven by a renewed focus on core brands and operational efficiency.
Ecommerce giants Amazon, Flipkart record Rs 11,621 crore in combined ad revenue in FY24
This marks an impressive 33% increase from the previous fiscal year¡¯s Rs 8,705 crore, according to regulatory filings by both companies. Experts attribute the surge in ad revenue for Amazon Seller Services and Flipkart Internet to increasing internet penetration and the growing trend of online shopping in India.
Foxconn tells India recruiters: Nix marital status in iPhone job ads
Foxconn instructed recruitment agencies in India to change hiring ads. The company asked to remove gender, age, and marital status. This follows a report about discriminatory hiring practices at Foxconn's iPhone factory. The Indian government investigated the factory. Foxconn says it values all workers. The company plans to invest more in India.
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BARC India sees 44% decline in FY24 profit to Rs 20 crore
India's TV audience measurement body, BARC, experienced a 44% profit decline in 2023-24, despite stable revenue. The firm, reliant on broadcasters for 75% of its income, saw its subsidiary MDPL also face a profit drop. Despite this, CRISIL reaffirmed BARC's stable rating, citing its strong business model and high revenue visibility, but acknowledged potential impacts from regulatory changes.
TikTok launches AI-powered video platform to advertisers globally
Earlier this year at the TikTok World Product Summit, the social media platform unveiled a new creative content suite called 'Symphony' with an aim to help businesses, creators and agencies customize high-quality and engaging content tailored to their brands.
Disney Q4 Results: Adjusted profit tops estimates on strong results from entertainment unit, streaming
Disney's fourth-quarter adjusted profit beat Wall Street's expectations, bolstered by strong results from company's entertainment business and its streaming service.
New rules to check misleading ads by coaching centres
The Indian government has issued new guidelines to curb misleading advertisements by coaching centers. These guidelines prohibit false promises like guaranteed job placements or 100% selection rates. Coaching centers are also barred from misrepresenting faculty qualifications, course details, and refund policies. The move aims to protect students from deceptive practices and promote transparency in the coaching industry.
WPP aims to double staff at Chennai centre by mid-2025
WPP is expanding its presence in India. The company will grow its Chennai tech hub to 2,000-3,000 employees. WPP is also considering new campuses in Coimbatore, Bengaluru, and Kolkata. India is WPP's fifth-largest market, with a talent pool of over 11,000 professionals. The expansion aims to tap into India's skilled workforce and support WPP's global growth.
Pinterest beats quarterly estimates on digital ads boost
The company's revenue grew 18% to $898.4 million in the reported quarter, compared with analysts' average estimate of $896.4 million, according to data compiled by LSEG.
Generative Advertising: Meta's AI goldmine
Generative advertising, driven by AI, allows Meta to create, test, and optimize personalized content at scale, positioning the company as a leader. This trend alters social media dynamics, posing economic and control challenges for users and advertisers, while pressing other tech giants to monetize AI effectively.
Tech, e-commerce giants rake in Rs 60,000 crore in FY24 ad revenue
Tech giants Google, Meta, Amazon, and Flipkart collectively generated over Rs 60,000 crore in ad revenue in FY24, marking a 9% increase from the previous year. This growth, driven by increasing digital ad spending and user engagement, underscores the rapid expansion of India's digital advertising market.
Meta's profit rises 35%, even as spending spree continues
The Silicon Valley company reported double-digit revenue and profit growth for the third quarter, driven largely by advancements in its systems for advertisement targeting and suggesting relevant posts and videos to users. The improvements came from its continued investments in artificial intelligence, the company said.
Meta India's FY24 gross ad revenue surges 24% to Rs 22,730 crore
Meta India's gross advertising revenue grew by 24% to ?22,730 crore for the fiscal year ending March 31, 2023, driven by strong monetisation from major advertisers and SMBs. Transitioning to an operating licence model, Meta India incurred increased royalties and infrastructure costs, but net advertising revenue rose by 49%.
Nazara Tech arm acquires UK-based growth marketing firm Space & Time, shares rise
Datawrkz has acquired a 100% stake in UK-based growth marketing agency Space & Time for Rs 52.3 crores. This acquisition aims to boost both companies' expansion in Europe and North America. The collaboration will combine strengths in programmatic advertising and optimization with expertise in growth marketing, media, and technology.
Snapchat beats revenue and user growth estimates, announces $500 million buyback
Daily active users of Snapchat grew 9% year-over-year to 443 million, beating analyst estimates of 441 million. Snapchat also invested in machine learning to improve its targeting of ads to users and also made it easier for small- and medium-sized businesses to advertise on the platform.
Criteo sees great potential in India¡¯s digital ad market
Criteo, a $2 billion Paris-based commerce media company, is targeting rapid growth in India's digital advertising market by strengthening local partnerships and leveraging AI technology. Despite CEO Megan Clarken's planned retirement and ongoing change in top leadership, Criteo remains committed to privacy compliance and using first-party data for personalized ads.
Selling nostalgia: New-age ads? Yawn. Brands are going retro
Major brands like Maybelline, Mountain Dew and Asian Paints are bringing back their iconic taglines, jingles, and logos to fight competition and capture consumer attention. Maybelline reintroduces its ¡®Maybe It¡¯s Maybelline¡¯ jingle with Suhana Khan, while Mountain Dew revives its old logo. Asian Paints re-launches its ¡®Har ghar kuch kehta hai¡¯ campaign, aiming to enhance brand loyalty.
Sunil Kataria re-elected as chairman of Indian Society of Advertisers
Sunil Kataria, the Managing Director of Raymond Lifestyle, has been re-elected as Chairman of The Indian Society of Advertisers (ISA). Under his leadership, the ISA aims to enhance digital advertising, advance the Media Charter for ad integrity, and collaborate with key industry bodies to ensure credible data and ethical practices.
GroupM's Prasanth Kumar re-elected president of AAAI for 2024-25
Prasanth Kumar has been re-elected as the President of the Advertising Agencies Association of India (AAAI) for 2024-25. Rana Barua will serve as Vice President. Other key board members include Sam Balsara, Tanya Goyal, and Tapas Gupta. The AAAI aims to drive innovation and excellence in the advertising industry.
Advertisers see power of print, newspapers post 11% rise in '23 revenues
The Indian Newspaper Society reported an 11% rise in ad revenue for 2023, totaling ?16,472.40 crore. Print media remains relevant despite digital competition. Accredited agencies contributed the most, with significant growth from state government ads and direct revenue. Key sectors like auto and retail continue to invest heavily in print advertising.
ISA launches media charter to enhance transparency in digital ad ecosystem
The Indian Society of Advertisers (ISA) has launched the ISA Media Charter to enhance transparency, security, and collaboration in India's digital advertising ecosystem. The initiative includes four playbooks on brand safety, viewability, ad fraud, and first-party data. Key stakeholders attended the launch event, which featured a panel discussion on leveraging consumer data responsibly.
Festive spending to spur ad sales in 2nd half of 2024
Media agencies predict mid-to-high single digit ad revenue growth for the second half of 2024, driven by festive season spending. Brands are expected to spend nearly 50% to 55% of the annual ad expenditure during this period. The absence of major cricket events will benefit non-cricket entertainment properties.
Dentsu looks to step up India play with tech, AI acquisitions
Japanese advertising giant Dentsu views India as crucial for its revenue potential and contributions to technology and innovation. The company is considering acquisitions in AI and tech sectors to support its growth strategy. Dentsu aims to leverage India's tech and creative talent, employing around 10,000 people in the country.
Almost all our advertisers in India using products powered by AI: Meta Exec Nicola Mendelsohn
Meta AI is experiencing significant growth in India, with high engagement across Facebook, Instagram, and WhatsApp. Vice President Nicola Mendelsohn highlights the innovative use of AI in these platforms, particularly with Reels and WhatsApp's business applications. India leads in adopting Meta's large language model, LLaMA, and businesses are seeing substantial returns on AI-powered advertising investments.
Invidi partners Hathway, DEN to introduce targeted advertising on digital cable
Invidi Technologies partners with Hathway Digital and DEN Networks in India to introduce advanced targeted advertisement solutions for digital cable TV. Leveraging cutting-edge ad tech, this strategic alliance will deliver highly targeted ads to diverse audiences, enhancing relevance and effectiveness. Addressable TV advertising allows for precise targeting based on viewer demographics, interests, and behaviors, improving engagement and maximizing ROI for advertisers.
Warning shots fired at non-sponsor brands seeking to cash in on Manu Bhaker's Olympic success
Manu Bhaker, the 22-year-old shooter who won a bronze medal on Sunday at the Paris Olympics, has been flooded with congratulatory wishes by brands that have never sponsored her or are associated with her in any manner.
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