Mobile advertising to reach Rs 430 crore by 2014: Report
According to a recent MMA report, the mobile advertising will increase by 43 percent to Rs 430 crore by March 2014.
According to the mobile advertising spend report by Mobile Marketing Association (MMA) report, mobile phone advertisements in India will grow at 43% to Rs.430 crore by March 2014. The growth projection is on the basis of budget smartphones and tablets as well as small medium businesses tapping mobility solutions for their promotions.
The report further reveals advertising spending at present is around Rs.300 crore. The report added overall spending on advertisements on digital medium are estimated in the range of Rs.2,750-3,000 crore as on 31 March for the current year and spending on mobile devices was approximately 10-15% of it.
A lot of growth is also seen in small and medium businesses whose contribution to mobile ad sales has grown considerably but are not being adequately tracked. The report stated that ways have to be developed by the industry to take into account the business from these small businesses as well.
John Sheehy, president of global operations, Starcom MediaVest Group stated, “In a world of uncertainty, the certain thing is that we will continue to see significant shifts out of analogue into digital. The reasons for this are that we are seeing the impact of reach and an emerging consumer class. According to a recent McKinsey study, in a market like India, there are going to be more haves than have nots.”
C.V.L. Srinivas, chief executive of GroupM, South Asia stated, “Mobile is today the only medium that can deliver high reach, high engagement and high efficiency–all of this in a personalized manner.”
Source: TOI