There has been development in each sector in the economy. This decade has brought about unthinkable changes in the media and advertising industry. When Mark Zucherberg started Facebook in 2004 we discovered social media and then Twitter was launched in 2006.Facebook now has 1.6 bilion daily users.Social media has become intrinsic and inseparable from us.
According to the KPMG report Indian OTT market is expected to reach 138 billion users by 2023, while Earnest And Young have found the users to reach 500 million by 2020, making India the second largest OTT market after US.
Hotstar has already managed to cross 400 millionn downloads and also 63% consumption is from non-metros.The digital ad expenditure is expected to rise to 21% in 2019 from 5.4% in 2009.The decline in creativity has been shooting up since the last decade as advertising has fallen in hands of technology, data and intelligence.
Dan Izbicki had earlier said that;” “There’s an assumption at the moment that just because everybody has got a camera and access to a YouTube channel, suddenly everybody is a creative director, that’s why most advertising is terrible and most films are not very good. Creativity is a precious skill.”
HSBC, Head Of Marketing, EMEA Philip Mehl said,” Marketing used to be a creative challenge but it’s a data challenge now.”