Dainik Jagran and Times Network might be the largest circulated dailies in India, but a new trend is emerging in the Indian Advertising market – Internet Advertising, much in line with the global markets.
A 2004 McKinsey & Co report suggests that between 2000 and 2004, the US newspaper market lost around $2 Billion to online classified websites.
In this chart we can clearly see that online classified advertising is growing rapidly. Between 2004-05 and 2005-06 it grew by 80% and for FY 2006-07 it is expected to grow by 50% over previous FY. Online classified advertising is expected to beat print classifieds in FY 2008-09.
The total Indian advertising market for last FY was around Rs16,267 crores ($4 Billion) of which the print media grabbed $2 Billion. However, with heightened Venture Capital activity and internet penetration we can expect more advertisers shifting to online and mobile media from newspapers and magazines.
Source for Chart – Busienss World, 9/11 Issue.
Online advertising has the potential to grow by leaps and bounds with a disruptive technological application known as Buzzar.tv that has been developed by Chennai based integrated marketing communications agency PixelKraft.
The Buzzar application provides brands a replacement of the conventional online media banner with a rich media banner (called brand box), by utilizing the existing media assets (such as tv commercials etc). This banner provides videos of the brands and is also enriched with other features such as store locaters, opinion polls, download of e-brochures, catalogs etc – All this without navigating away from the original web page. Check out a sample ad:
http://www.buzzar.tv/brandbox/brandbox_demo.htm
This proves to be the most effective way of advertising on the online space.
The buzzar application also provides an exhibition solution for brands on http://www.buzzar.tv. This acts as the backend module for the brand box and also provides a window shopping experience for brands in all categories.