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Tuesday, November 29, 2016

Facebook India revenues jump 43%

Facebook reported a 43% jump in its revenues in India for the year ended March as marketers in the country continue to increase advertising spends on digital media, according to filings with the registrar of companies.

The social network major posted Rs 177 crore in revenues, at Rs 16 per user, for FY16 against Rs 123 crore at Rs 9 per user in the previous year. Its net profit doubled to Rs 31 crore from Rs 16 crore during the period.

India is already the second-largest market for Facebook outside the United States, where it earned Rs 610 per user, and there is a huge potential for growth given the rapid expansion of mobile data usage in the country.

Less developed markets such as India lag behind in consumers’ use of digital devices, and brands have been slower to embrace digital media. Traditional media still secures the bulk of advertising budgets in the country.

But most marketers have increased advertising spends on digital media, particularly in urban areas where the infrastructure supports Wi-Fi and affordable mobile connections, media insiders said. Google attracted most of the spends, they said.

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