Twitter India doubles its profits in FY19

Twitter India’s profit has doubled, increasing by 31 per cent in the year ended March 31, 2019. Net profit rose by 108 per cent to Rs 5.8 crore. (Source: Veratech

Meanwhile, revenue was up at Rs 56.9 crore during 2018-19 from Rs 43.4 crore the previous year. A spokesperson from Twitter said that they don’t provide country specific sales and that the India operating revenue refers to its service fee income. 

In the 2019 annual report, the company stated, “This includes marketing support, business planning assistance and related services to build and expand the internet user community and potential advertisers in India.” Almost 90 per cent of Twitter’s advertising revenue is generated from mobile devices. It further added, “In emerging markets like India and Pakistan, significant portion of users use feature phones and communicate via SMS messaging, both of which have limited functionality and neither of which may be able to take full advantage of our products and services offered on smartphone or our website or desktop applications.” 

A high number of marketers have risen their advertising spends on digital media. In urban areas, this is more prevalent as Wi-Fi and affordable mobile connections are more available. 

In India, companies are slower to embrace digital media as compared to the developed countries. Traditional media still holds the majority of advertising spends in the country. A Dentsu Aegis Network report stated that the digital media spends is expected to grow 32.7 per cent in 2019 to Rs 14,400, which is about 5th of the total ad spends in the country.

Media
@adgully

News in the domain of Advertising, Marketing, Media and Business of Entertainment

More in Media