Debate and discussion over advertising and monetisation of the digital media industry continued to prevail on Day Two of FICCI Frames, held in Mumbai. A panel comprising research agency heads, media agency leaders and internet publishers discussed how innovation and advancement in advertising is now being taken up by digital media.
As per the latest KPMG-FICCI report, digital industry grew at a promising rate of 54 per cent as against TV (10.8 per cent), print (8.3 per cent), radio (15 per cent) and OOH (7.6 per cent). The findings were crucial because the report said that the advertising industry grew at a rate of 12 per cent and the overall growth in digital advertising was more than all other media platforms.
Talking about the growth of advertising on digital platforms, Rajan Anandan, VP and MD of Google India asked, “How many jobs opportunities are being printed in newspapers today? Same is the case with advertising by the real estate industry. A significant chunk of Rs 1200 crore real estate advertisement is slowly shifting to the digital medium.”
Currently, only six to seven per cent of the total advertising budget of Rs 300 billion goes to digital media.
While explaining the hurdles and challenges involved in monetisation and the dynamic nature of the digital medium, Vikram Sakhuja, CEO, GroupM, South Asia said, “Television and print continue to attract the largest share of the advertising pie in India. We must try to devise a common digital content format to make sure the advertisers are convinced about the potential of the medium.”