Budget 2014: Service tax extended to sale of ad space on online & mobile
Finance Minister Arun Jaitley has just finished presenting his maiden Budget speech and there have been some important announcements for the media & entertainment, advertising as well as the digital sector.
· Service tax has been extended to selling of space or time slots for advertisements on online and mobile platforms
· Sale of advertisement space in print media is excluded from service tax
· New 24x7 television channel, Arun Prabha, for the North East to be launched
· A Rs 10,000-crore start-up fund to be set up for new businesses
· Kisan Television to be set up for the benefit of farmers, which will give real time information on advanced agriculture system
· Rs 100 crore has been allocated to spur growth of community radio. 600 new community radio stations slated to be set up across the country
· Manufacturing units will be allowed to sell their products through retail and e-commerce. The move will give a boost to e-commerce in India
· Rs 500 crore proposed for digital India programme for broadband connectivity at village level and transparent governance
· National Rural Internet and Technology Mission proposed; Rs 500 crore set aside
· Film and Television Institute of India, Pune and Satyajit Ray Institute, Kolkata to be accorded status of institutes of national importance
Our typical marketing budget is usually 10 per cent of the topline spend
There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...
The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.
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