Tech, e-commerce giants rake in Rs 60,000 crore in FY24 ad revenue
e-commerce giants Google, Meta, Amazon, and Flipkart collectively generated over Rs 60,000 crore in advertising revenue in FY24, a 9% increase from Rs 55,053 crore in FY23, according to Registrar of Companies (RoC) filings.
For the first time, the Indian arms of Google and Meta surpassed Rs 50,000 crore in combined gross revenue. The marketplace arms of Flipkart and Amazon garnered over Rs 10,000 crore in cumulative ad revenue, with Flipkart Internet alone raking in close to Rs 5,000 crore.
Amazon Seller Services, which generated Rs 5,380 crore in ad revenue in FY23, has yet to publish its annual report. However, sources indicate that the company is likely to report strong ad revenue earnings in line with industry trends.
Advertising industry experts say this surge highlights the rapid growth of digital advertising in India, driven by increasing smartphone adoption, expanding internet penetration, and more time spent online by users across activities like entertainment and shopping.
Experts note that Google and Meta are attracting ad revenue from a wide range of advertisers due to their extensive reach and targeting capabilities. Meanwhile, e-commerce platforms are enhancing brand sales, offering higher returns on investment (RoI).
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