In a recent report, Indian nationals spent almost $1.6 Billion on Facebook and Google Ads in the fiscal year 2018-2019. The revenue for Facebook and Google is increasing every single day as businesses spend more money on ads.
The revenue of both the companies has touched Rs 11,500 crore in the financial year 2019. India’s large population and over half a billion internet users make India the fastest-growing advertising market. Sources suggest that Indian institutions will spend almost Rs 28,249 crore by 2022. Google and Facebook single-handedly dominate the Indian digital advertising market by a whopping 68%. Google’s ad revenues also come from its subsidiaries like YouTube and Instagram for Facebook.
These stats shows how the Indian digital marketing industry is rising at a rapid pace. Many Indian start-ups have caused this boom in the online advertising sector. Many startups prefer digital marketing over traditional marketing. The digital boom caused by Jio back in 2016 helped get more audiences online. The market is expected to grow faster in the future. Google and Facebook are facing competition by e-commerce Amazon and Flipkart. As Facebook India’s overall revenues rose to almost Rs 891 crore in the financial year 2019, their profit also rose to 84 percent. For Google India, the revenue halved because of the change in accounting standards, but the company still saw a 16 percent rise in the profits.
Google and Facebook are the biggest players in the market. They both compete in the market to get the highest market share.