Economic Times spoke to Ashish Bhasin to understand his views on this year’s general elections and the consequent growth of ad spends on socialmedia. Scroll down to read the full article or click on the link below.
Social media platforms are set for a major windfall this election year as media experts believe advertising spends on social media will see a jump of around 150% compared with the previous general election year of 2014.
Some advertisers expect social media alone to corner about Rs 12,000 crore in ad spends this year with Facebook taking a lion’s share of that.
“Facebook will continue to lead,” said Sandeep Goyal, founder of Mumbai-based communications agency Mogae Media. “With a new leader in India and an organisational rejig, Facebook will be even more potent and penetrative. Twitter will also gain traction, but advertising dollars may still stay shy of Tweepledom. The medium is still to grow beyond being newsy.” He expects Facebook alone to pocket Rs 10,000 crore ad money with the rest ofsocial media getting about Rs 2,000 crore.
In 2018, the overall digital advertising market size was estimated to be around Rs 10,819 crore by Dentsu and it is expected to reach Rs 24,920 crore till 2021 by the company.
“We are estimating a 100-150% growth in ad spends on social media for this year’s general elections compared to 2014 which is very substantial,” saidAshish Bhasin, CEO, South Asia, at Dentsu Aegis Network. “All the political parties have seen the benefits of social media and a lot of issues arefought on social media platforms like Twitter.
2019 will mark the first general elections where digital and mobile will be an integral part of the strategy of all political parties,” he said. Global digital marketing platform AdLift estimates digital ad spending to reach about Rs 16,800 crore in 2019.
Girish Menon, head of media and entertainment at KPMG, said the emphasis on social media as an outreach programme will be much higher this year compared to 2014.