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The government on Monday approved a steep increase in rates of advertisements on private FM radio stations for its policies and programmes, a move that would benefit more than 400 community radio stations across the country. The new rates have been announced after eight years. The last hike was done in 2015. The pricing formula for finalising the advertising rates takes into account various factors such as city population and listenership data from the India Readership Survey (IRS) of 2019, said a statement issued by the Ministry of Information and Broadcasting. "The new rates approved by the ministry in the month of September, 2023 include a 43 per cent increase in the base rate taking into account the rising costs dynamics for the period of December 2015 to March 2023," it said. The statement added that with this increase, the gross base rate for FM radio advertisement will increase from Rs 52 to Rs 74 per 10 seconds and the adjustment was intended to maintain parity with current
European Union antitrust regulators took aim at Google's lucrative digital advertising business in an unprecedented decision ordering the tech giant to sell off some of its ad business to address competition concerns. The European Commission, the bloc's executive branch and top antitrust enforcer, said that its preliminary view after an investigation is that only the mandatory divestment by Google of part of its services would satisfy the concerns. The 27-nation EU has led the global movement to crack down on Big Tech companies but it has previously relied on issuing blockbuster fines, including three antitrust penalties for Google worth billion of euros (dollars). It's the first time the bloc has ordered a tech giant to split up keys of business. Google can now defend itself by making its case before the commission issues its final decision. The company didn't immediately respond to a request for comment. The commission's decision stems from a formal investigation that it opened
Indian advertising industry's revenue growth will accelerate to 16.8 per cent in 2023, a report said on Monday. The advertising industry in the country, which has a relatively stronger economic outlook as compared to the world markets, will grow 15.8 per cent to USD 14.9 billion in 2022, the report by Group M said. "This growth (16.8 per cent in 2023) is led by pure-play digital advertising, which accounts for the largest share (48.8 per cent) in 2022 and is expected to continue rising above pre-pandemic levels," the report said. The size of retail media in India is forecast at USD 551 million in 2022 and is expected to nearly double by 2027, it said. The report said TV advertising, representing 36 per cent of advertising market share, is expected to grow 10.8 per cent in 2022, and will continue growing double digits, driven by strong growth in both traditional and connected TV. On the macro front, it said, the Indian economy is also facing uncertainty amid wider geopolitical risk
Sale of advertisement space on internet would be liable to 18 per cent Goods and Services Tax, the Karnataka bench of Authority for Advance Ruling has said. E-commerce portal Myntra Designs Pvt Ltd had approached the AAR seeking a ruling on whether providing advertisement space on its portal to foreign entity Lenzing Singapore Pte Ltd was liable to GST. The AAR said Myntra is only leasing the advertisement space to its customer and the advertiser (Lenzing) is providing advertisement services to its customer. The service provided by Myntra to Lenzing is that of rendering 'sale of internet advertising space (except on commission)' and is charging a fixed rate and not a commission for providing such space. Hence, the same will be classified under 'other professional, technical and business services' under GST law and is liable to GST at 18 per cent. AMRG & Associates Senior Partner Rajat Mohan said, This ruling would clarify on the scope of sale of space on internet and on the ...