Online Advertising To Grow 50%: Google MD Rajan Anandan
The Indian online advertising market is set to soar by 50 per cent this year.
In contrast, online advertising grew by 26 percent to reach an estimated Rs. 993 crore in the year FY 2010-11, according to a report by Internet and Mobile Association of India (IAMAI) on Online Advertisements published in December 2010, which you can download from here.
Already worth Rs 1,000 crore, billings will reach Rs 1,500 crore by year end, afaqs reported Rajan Anandan, managing director, Google India as saying.
He was speaking at the sixth edition of GoaFest 2011, by the Advertising Agencies Association of India and the Advertising Club Bombay. Google's online advertising platform Adwords rakes in the moolah for the company. Through Adwords, brands are able to place text, banner, and rich-media ads across various blogs and websites. Google also runs the world's largest mobile advertising network AdMob.
Anandan added that by 2014, online advertising would be worth $1 billion in India.
If we revert to the report, as of FY 2009-10, online advertising in India was an estimated Rs. 785 crores of which, text advertisements accounted for Rs. 368 crores. Automotive, BFSI, online publishers, travel, IT and telecom companies are the biggest spenders on online ads.
Mobile advertising in India is also faring well. Mobile ad network InMobi said the domestic mobile advertising market for the company grew by 27% to 1.5 billion impressions between October 2010 and January 2011. Online and mobile video advertising network iVdopia claims to be delivering $500,000 in profits every quarter.