VaynerMedia opens full-service agency in India, capitalizing on ad revenue growth
entrepreneurial spirit and diverse culture coupled with our team's passion is a recipe for explosive growth," Vaynerchuk said in a statement.Advertising agencies in India have been growing, helped by technology adoption and deployment of data scientists, who analyse consumer behaviour on social media channels, and connected TVs for sharply-designed ad campaigns for brands. Another advertising agency Wavemaker India's CEO Ajay Gupte recently told Mint that the company is heavily focused on hiring those in the technology and data science fields to mine social-media data.
GroupM India's annual report This Year Next Year (TYNY), which released in February, said that the overall ad revenue is expected to incrementally grow by 10% in calendar year 2024 to ₹1,55,386 crore. The revenue was ₹1,40,963 crore in 2023.
Of the total, digital media is projected to account for ₹88,502 crore, or 57%, of the total ad revenue in 2024. This growth is attributed to changes in the advertising landscape, including the diversification of search and the increasing impact of influencer marketing and retail media.GroupM added that global advertising presents a slower but steady picture, with a projected 5.3% growth in ad revenue for 2024, reaching $936 billion, with digital (including digital extensions of all media) leading the charge at a commanding 79% share of all ad revenue.Milestone Alert!
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