The Internet has changed the way we do business. Digital advertising has been around since the first webmaster embedded a jpeg image on the sidebar of their website for a few puny dollars. That was just a small amount in the marketing budgets of the biggies. With the advent of videos and new content producers creating precedents, that pie is only growing as Father Time proceeds.
Last year, the digital advertising market grew to around 8000 crores. This year, it’s pegged to grow at by 20 percent, becoming around 10,000 cr. But the real staggering figure comes up in projected market growth in 2020. Analysts say that it could see a 18,000 cr growth. What a great time to be in the world of digital marketing! From the business point of view, advertisers are currently spending around 15% of their advertising budget on digital, that’s set to grow to about 24% by 2020.
Reports reveal that digital ad formats are also changing. Though display still forms 21 percent of digital ad revenues, video ads are coming in with 19 percent. And to think that the jpeg came online long before the avi or the mpeg.