The company has also benefited a lot from advertising revenue here. Advertisements for e-commerce and consumer package goods performed well during the lockdown.
Facebook has benefited in lockdown
India is not only a big market in terms of the number of big tech users, but it also includes revenue. Social media giant Facebook’s India’s revenue has increased to $ 1 billion due to the digital boom and growth in platforms like Instagram, Facebook. According to a report in Times of India, during the year 2020-21, Facebook’s India revenue increased to Rs 9,000 crore or say $ 1.2 billion as compared to Rs 6,613 crore in the previous financial year. The actual figures will be revealed when the California-headquartered company files it with the Registrar of Companies.
The growth of the platform in India in the last few years has been phenomenal due to a number of factors such as falling data prices and cheapening of smartphones. The lockdown also helped the growth of social media and internet companies as people stayed home and turned to the internet for everything from entertainment and studies to shopping.
Online advertising largely benefited from the digital push, with tech players such as Google and Facebook at the top. Facebook India Managing Director Ajit Mohan told TOI, “Last year saw a paradigm shift in not only going online among users, but also in online engagement with businesses and brands. This has led to an increase in online marketing spend which has driven the growth of digital advertising in India.
Shashi Sinha, CEO of advertising major IPG, expects the digital market to grow by around 40% this fiscal. Digital consumption increased last year. That said, the trend is irreversible.
Dentsu Asia-Pacific CEO Ashish Bhasin said that the participation of digital companies is getting deeper in the economy. Businesses both large and small are taking advantage of the Internet to connect with their customers. The Internet continued to work even when the world was closed. He said that the change in consumer behavior during the lockdown is here to stay.
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