META INDIA AD REVENUE
Spotify India narrows net loss in FY23
Spotify India LLP's net loss declined 26% to ₹344 crore in FY23. Revenue rose 86% to ₹167 crore while expenses fell 9% to ₹504 crore. Subscriptions increased 66%, ad revenue 91%. Entered India 2019, contends with JioSaavn, Amazon Prime Music, and Apple Music. Globally, Spotify has 615 million users. Data from Tofler; FY24 unfiled.
Dabur sees improvement in demand, rural growth in Q1
The domestic business is expected to record mid-single-digit volume growth and its consolidated revenue is expected to register mid-to-high single-digit growth during Q1 FY25, said Dabur, which owns brands such as Dabur Chyawanprash, Dabur Honey, Dabur PudinHara, Dabur Lal Tail, Dabur Amla, Dabur Red Paste, Real and Vatika.
India's FMCG sector to see revenue growth of 7-9 pc in fiscal 2024: CRISIL
CRISIL forecasts 7-9% revenue growth for the FMCG sector in the current fiscal year, driven by increased volume and rural demand recovery. The report highlights stable product prices in personal care and home care, while food and beverages face modest raw material cost increases. Rural growth is bolstered by better monsoons and government initiatives, while urban demand remains robust due to rising incomes and premium product preferences
India among most active countries for Meta's Threads
Meta's Threads boasts 175 million users, with India leading. Mark Zuckerberg highlights its impact. Cricket, like IPL, T20 World Cup, is popular, with 200 creators and players such as Rishabh Pant, Ravindra Jadeja, and Suresh Raina. Launched in July 2023, it gained 100 million sign-ups in a week. Other topics include film, TV, and OTT.
EU accuses Meta of breaking digital rules with paid ad-free option
Meta introduced a no-ads subscription service for Facebook and Instagram in Europe last November. The company stated that users who agree to tracking receive a free service supported by advertising revenue, while those who opt out can choose to pay to keep their data private.
India’s T20 cricket world cup victory likely to boost ad revenue
India won the T-20 Cricket World Cup after 13 years, boosting cricket's revenue potential. Disney Star, the official media rights holder, expected $2.2 billion in advertising revenue. The game, blending US-style marketing with Bollywood glamour, saw high ad prices. The tournament, held partly in the US, ended with a dramatic final. Legends Rohit Sharma and Virat Kohli retired from T-20 cricket after the victory.
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India in T20 World Cup final, Disney Star hikes ad rates
Star Sports is the official TV broadcast partner of the tournament. Prior to the tournament, the broadcaster had quoted spot buy rates of ₹13-26 lakh per 10-second slots for India and knockout games. The average ad rate for all 55 matches of the tournament works out at ₹6.5-7 lakh due to lower than expected demand from advertisers.
Unusual T20 cricket world cup timings impact TV viewership
The ICC T20 Men's World Cup has seen an 8% drop in TV ratings for the first 30 matches compared to 2022, despite a 4% rise in cumulative audience reach to 205 million. The average ratings have dropped 8% to 0.97 TVR for all-India male and female 2+ audiences and 13% to 1.2 TVR for all-India male 15+ audiences.
'Kalki 2898 AD' box office: Prabhas' movie surpasses 'RRR' and 'Salaar,' sets new North America record
'Kalki 2898 AD', directed by Nag Ashwin and starring Prabhas, Deepika Padukone, Amitabh Bachchan, and Kamal Haasan, has broken box office records previously held by 'RRR' and 'Salaar.' The film set a new benchmark by grossing $3.5 million from its North American premiere, despite being released on fewer screens. It also achieved the highest opening day advance booking in Hyderabad, collecting Rs 15.84 crore.
GNSS-based toll collection to add Rs 10,000 crore to India’s toll revenue: Nitin Gadkari
Speaking at the international workshop on GNSS-based electronic toll collection in India, union minister for road transport and highways Nitin Gadkari said since commercial vehicles including trucks account for 75% of annual toll revenue it is important that the new system is implemented on commercial vehicles first. India’s toll collection stood at Rs 64,809.86 crore in 2023-24 as against Rs 48,028.22 crore in 2022-23, an increase of 34.9%.
Digital media growth to take Indian ad market size to Rs 1.2 lk cr in 2024
The Indian advertising market is predicted to grow 11.8% in 2024, reaching ₹1,22,155 crore, primarily driven by digital media. Traditional media ad revenue is expected to grow 8.4% to ₹64,398 crore, while digital media is expected to grow faster at almost 16% to reach ₹57,757 crore. India's traditional media market share is twice that of global and APAC size. However, digital's share of total ad spends could reach 50% by 2026.
N Chandrababu Naidu's family's wealth surges Rs 1,225 crore as Heritage Foods shares double in 12 days
Chandrababu Naidu's family's wealth surges with Heritage Foods shares rising over 105%. Naidu's party, Telugu Desam Party, wins big in Andhra Pradesh elections.
Affle India is this week's top stock; why analysts are bullish
The management aims for over 20% revenue growth in 2024-25 and is optimistic about better pricing and margin improvement. Analysts expect the near-term pressure from developed markets to subside in the current financial year. Should you invest in Affle India?
Meta's WhatsApp launches new AI tools for businesses
Meta launches first AI-driven ad targeting program on WhatsApp to boost revenue. CEO Mark Zuckerberg unveils tools for businesses at a Brazil conference, shifting WhatsApp's stance on targeted advertising and enhancing customer engagement.
Nvidia's market cap hits $3 trillion briefly, overtaking Apple as second most valuable company
The latest rally in Nvidia comes as it prepares to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors.
Anti-Sikh fake accounts backed by China: Meta
Facebook and Instagram-owner Meta in its 'Adversarial Threat Report' said that they removed 37 Facebook accounts, 13 pages, five groups and nine Instagram accounts for violating its policy against "coordinated inauthentic behaviour".
Advertisers in a state of doubt over T20 World Cup
Advertisers are grappling with whether to put their money solely on India's matches, particularly the eagerly awaited clash with Pakistan, or buy non-India games as Disney Star strives to sell a bulk of its ICC Men's T20 World Cup TV ad inventory.
Ad lib? Commercial shift in commercials
Television broadcasters anticipate a rebound in advertising revenues following adverse developments last year, including free cricket streaming, sports cannibalizing entertainment ad revenue, and a larger base. Elections and a strong cricketing year are expected to support revenue growth. However, India must adapt to global media consumption habits, with low internet access, online programming, and sports viewership migrating.
TV broadcasters hope ad revenues to bounce back in FY25, expect flat or degrowth in FY24
Top broadcasters like Star India, Sony Pictures Networks India, Zee Entertainment, and Sun TV Network saw ad revenue remaining flat or shrunk in FY24 due to the exit of new-age advertising and the shift of ad dollars to digital due to free cricket streaming by JioCinema and Disney+ Hotstar.
How Google and Meta's Ad transparency reports reveal—and conceal—political Ad spend
Despite abundant data, Google and Meta’s ad transparency reports often obscure more than they reveal. While intended to enhance transparency, critics argue they create an illusion of openness, complicating the analysis of political ads and raising concerns about content moderation.
The great internet ad scam: Trusting the efficacy of online ad spend is irrational — it’s a bubble waiting to pop
What if all this spending is based on misconceptions about personal behaviour and the illusion of precision that these platforms offer? From an advertiser's perspective, the more funds that go into creating compelling content and targeting the right potential buyers, the better. Everything else is a waste. But reality is different.
Job site Indeed cuts around 1,000 jobs in second layoff in two years
Indeed's layoffs were announced by chief executive officer Chris Hyams in a company memo. This development comes as the job listing platform grapples with a significant downturn in job postings and a cooling labor market.
Rumble sues Google over digital advertising practices
The suit alleges Google has monopolized the ad stack "by buying companies up and down the chain, concurrently representing both ad buyers and sellers, while also running the exchange that connects those parties."
Truecaller’s ad revenue grows 5% in Jan-March 2024 buoyed by IPL promotion
Truecaller's Q1 performance was boosted by IPL promotions, leading to a 5% increase in global ad revenue. The company saw growth in MAU and introduced new subscription plans for business customers, expecting positive revenue impact.
AI can be the ad factory at scale for advertisers: Meta exec
“We have always been about AI. It has been at the backbone of our feed since 2006 and we have had products for advertisers that have been leveraging AI. That’s how users get different things basis their interests,” said Arun Srinivas, director and head of the ads business (India) at Meta.
Star India's sports losses widen by 50% to $342 million in H1 FY24
Star India's sports business operating loss reached $342M for six months till March 30, surpassing $228M last fiscal. Walt Disney's revenue hit $504M, with costs at $786M due to IPL cricket programming expenses. Ad revenue doubled to $221M.
Marico on course to deliver double-digit constant currency growth in international business: Saugata Gupta
Marico CEO discusses market share dynamics, rural recovery, deflation impact, and strategy focusing on premium segments. The company targets double-digit revenue growth, digital business expansion, and sustainable scale-up of Beardo and Plix portfolios. Gupta says: "We expect the digital business also to get into at least a double-digit EBITDA by FY27 with a 2x times growth and we believe that this business will contribute to, which is now 20%, over the next three years will be 25% of our overall portfolio in India."
Tech platforms make pitch for ad deals as TikTok is roiled by politics
TikTok is expected to generate $8.66 billion in U.S. ad revenue this year according to an estimate from research firm Emarketer. While it is a fraction of the size of Google and Meta, TikTok kicked off the short-form video craze and prompted rivals to build similar features.
TV revenue growth may not meet H1 expectations
TV broadcasters in Mumbai anticipate sluggish revenue growth in the first half of 2024 due to a subdued ad market and restrictions on increasing channel prices during the general elections. While political advertising may provide relief, challenges persist with subscription revenue, digital competition, and sports broadcasting.
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