Advertising in the Age of New Media By Ms Archana Kumari and Mr. Manish Prakash Assistant Professors, Department Of Mass Communication and New Media

Where as Traditional Media provides limited space and time to the advertisers, New Media has unlimited space and time. The Traditional Media has limited accessibility but New Media can be accessed anytime, anywhere.

New Media: New Avenue New Media has given new direction and a new platform to the advertisers and brought in huge business opportunities worldwide in 21st century.

The most noteworthy development which revolutionised the avenue of New Media is Internet. Almost overnight, the Internet's gone from a technical wonder to a business must. – Bill Schrader, businessman The term ‘Global Village’ coined by Wyndham Lewis in 1948 and popularised by Marshall Mc Luhan in 1960, has been converted into a reality. - J. Jethwaney, Head, ADPR, IIMC, New Delhi

Convergence New Media became so popular due to one more factor – Convergence. Here Convergence means: convergence of technology, convergence of creation, convergence of communication.

These two factors – ‘Internet’ and ‘Convergence’ unleashed a whole new world of opportunities for not only advertisers but for the whole human race.

Emergence of Social Media is another feather in the cap for New Media which further enriched it and increased its accessibility for every strata of society with the use of advanced technological devices.

It's hard to find things that won't sell online. Jeff Bezos, founder, Amazon. A growing number of advertisers are making use of the virtual world by placing online commercials, podcasts and videos on YouTube and various social networking sites. J.Jethwaney, Head, ADPR, IIMC, New Delhi.

Economic Advantages of Online Advertising The global online advertising industry is forecasted to grow to 17 percent of the total media advertising. - (Roy, 2011) A big advantage of online advertising is that it is interactive and can be easily measured constantly in some cases including hits-to-purchase. - (John and Anand, 2007)

Economic Advantages of Online Advertising According to Prof. Jaishri Jethwaney, there are two principal drivers for this growth, first being the growth of ‘mobile internet’ and second in the form of devices that is creating new experiences and ability to do innovations.

Indian Scene of Online Advertising Spending on advertising by top 100 marketeers In India, the advertisers look at digital media as a support medium. (Bapna, 2011) Advertising through digital media is just about 2 percent of the estimated Rs. 220-50 billion advertising market. - (Jethwaney, 2012) Medium Rs. (in billion) Television 72.84 Print 61.83 Below-the-line (BTL) 30.40 Outdoor 10.32 Online 6.03 Radio 7.14 Mobile 0.0095 Source: Digital Media Outlook 2010 (webchtney)

The slow growth of online advertising in India till 2015 , is bacause of following few reasons: Among the various business categories, the Fast Moving Consumer Goods (FMCG) sector which contributes most in the advertising spend share at 42 percent, contributes only 9 percent towards online advertising. Internet is used by the advertisers only as a medium and not engaging the consumer or being interactive in a big way. However the prediction of PriceWaterCooper and industry experts towards growth of online advertising in India is quite inspiring.

Indian Scene of Online Advertising Projected revenues of the Indian E&M industry in billion INR, 2013-2018 Segment 2013 2014 2015 2016 2017 2018 CAGR Television 420 486 568 648 756 846 15% Print 223 241 259 278 298 314 7% Internet access 252 352 446 552 613 662 21% Film 126 141 161 179 198 217 12% OOH 19 21 23 25 26 28 8% Radio 18 20 27 32 40 17% Music 12 13 14 16 22 13% Gaming 30 35 38 43 Internet advertising 29 52 68 87 100 28% Total 1,120 1,337 1,576 1,827 2,068 2,272 Source: Industry discussions and PwC India analysis

Indian Scene of Online Advertising The revenue from advertising is expected to grow at a CAGR of 13% to reach 632 billion INR, from 350 billion INR in 2013. Overall, the share of consumer spend is expected to increase. Consumers’ expenditure is expected to increase from about 69% in 2013 to about 72% in 2018.

Indian Scene of Online Advertising Television and print are expected to remain the largest contributors to the advertising pie in 2018 as well. Internet advertising should emerge as the third-largest segment, with a share of about 16% in the total E&M advertising pie.

While this marks a major shift, the Indian internet advertising segment is still way behind its US counterpart, which is expected to be nearly as large as TV advertising in 2018.

Though slowly but steadily advertising in India is going to touch new heights with the increasing use of new media as very well predicted by PwC India analysis.