According to Registrar of Companies filings, tech and e-commerce giants Google, Meta, Amazon and Flipkart collectively received advertising revenue of over Rs 60,000 crore in FY24, up 9% from Rs 55,053 crore. Rs.23 FY.
For the first time, the Indian arms of Google and Meta surpassed Rs 50,000 crore in combined gross revenue. Flipkart and Amazon’s marketplace arms earned over Rs 10,000 crore in cumulative advertising revenue, with Flipkart alone earning a total of Rs 5,000 crore.
Amazon Seller Services, which earned advertising revenue of Rs 5.38 billion in FY23, is yet to release its annual report. However, sources indicate that the company may post strong advertising revenues in line with industry trends.
Experts say Google and Meta are attracting advertising revenue from many advertisers due to their broad reach and targeting capabilities. Meanwhile, e-commerce platforms are driving sales for brands and generating higher returns on investment.
Uday Sodhi, Senior Partner at Kurate Digital Consulting, said: “Display advertising is driving digital media spend growth at Meta and Google. “Amazon and Flipkart are seeing significant growth in transactions and users, driving transaction-based advertising on these platforms.”
“The new emerging digital media option is Q-commerce. “As Quick Commerce expands in major cities, we can expect its advertising revenue to grow substantially as well.”
Google India reported 11% growth in gross advertising revenue for the financial year ended March 2024 to Rs 31,221 crore from Rs 28,040 crore in FY23.
Meanwhile, Flipkart Internet reported a 50% growth in advertising revenue to a total of Rs 4,972 crore.
“Digital advertising is not just about reach; It’s about building a brand with precision. “As India’s digital ecosystem matures, advertisers are focused on a deeper understanding of consumer intent and behavior by leveraging advanced analytics, artificial intelligence and immersive formats.”
