Growth in advertising spending reduced for most sectors in FY24, with eCommerce being the only exception, says a report released by Redseer Strategy Consultants
Short-form video apps likely to capture 40% of video commerce market, reveals a Redseer report which also predicts Creator economy will double in five years
The industry is using digital media and the power of regional language content to spur the growth further
The report also stated that there is a mismatch between ad spend and time spent. Though 7% of time is spent on short form video, less than 1% of ad dollars is spent on these platforms
The eCommerce Festive Season Report also highlighted that nearly 80% of the sellers agree that festive sales will play a key role in recovery from Covid-19 losses
The significant growth is largely expected to be driven by the new 300 million Internet users that will be added by 2025
According to the latest report by the platform titled ‘Short-form video- The Rise of Made in India digital content’, Indian short-form apps have onboarded around 30-35% new users over the past year
Subscription revenue saw a 42% surge at $68 million compared to $49 million
Subscription revenue saw a 42% surge at $68 million compared to $49 million
The OTT consumption in September and October stood at 228 billion minutes and 231 billion minutes respectively