With the significant surge in the use of smartphones and Internet, digital ad spending in India is likely to reach $21 billion by 2028, a report showed on Tuesday.<\/p>\n
Notedly, growth in user-generated content (UGC) will empower individual creators and influencers to build their digital identity, which brands can leverage for digital ads.<\/p>\n
This strong ecosystem of 2.5 to 3 million creators is expected to drive marketing spending of $2.8 billion- $3.5 billion by 2028, according to the report by Redseer Strategy Consultants.<\/p>\n
The digital ad spend in the country is set to observe a muted growth in FY23 due to macro factors, post which it would account for 65-70 per cent of overall ad spend in India growing at a CAGR of 19-21 per cent.<\/p>\n
“Upon mapping market sizing across media agencies, we observe a significant under-reporting of digital ad spend in India. However, our projection has considered enterprise spends, SMB spends, influencer marketing, affiliate marketing and gaming,” said Mukesh Kumar, engagement manager, Redseer.<\/p>\n
With users spending around seven hours daily on their smartphones, digital platforms have a good engagement rate.<\/p>\n
Some of the most popular performances driving digital advertising platforms include e-commerce, short videos, OTT, social media, long-form videos, and news outlets.<\/p>\n
According to the report, global slowdown due to increasing interest rates, energy crisis etc., has led to new-age companies focusing on profitability and controlling their spending on ad and hence slower growth is expected in FY23.<\/p>\n
Under the current economic headwinds, the ad market is estimated to grow by 6-8 per cent in FY23, said the report.<\/p>\n
“We expect macroeconomic engines to pick up momentum again by FY24 since, after every economic downturn, eventually, consumer morale returns,” it added.<\/p>\n
As the creator economy grows, it is essential to bridge the gap between brands and influencers through a centralised platform such as the creator marketplace, the report mentioned.<\/p>\n","protected":false},"excerpt":{"rendered":"
With the significant surge in the use of smartphones and Internet, digital ad spending in India is likely to reach $21 billion by 2028, a report showed on Tuesday. Notedly, growth in user-generated content (UGC) will empower individual creators and influencers to build their digital identity, which brands can leverage for digital ads. This strong ecosystem of 2.5 to 3 million creators is expected to drive marketing spending of $2.8 billion- $3.5 billion by 2028, according to the report by Redseer Strategy Consultants. The digital ad spend in the country is set to observe a muted growth in FY23 due […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-799804","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799804"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799804\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}