The share of people watching video ads on mobile phones as compared to other mediums is growing rapidly in the Indian adtech market, claimed a survey conducted by a data analytics company, MoMagic Technologies.
The survey report claimed that 40% of the Indians prefer to watch advertisements in video format on their mobile phones while 24% prefer to watch these video ads in the form of an image.
The report revealed the fact that the space for advertisement via text messages has been constantly shrinking in India. The survey details were released in a media briefing and explained in detail by Arun Gupta, founder and CEO of MoMagic.
Commenting on the details of the survey, Arun said, “Mobile ad spend is growing at a rapid pace in India as it grew at a staggering rate of over 80% in 2017. Consumers have displayed an increased interest in content-rich storytelling rather than abrupt banner ads. This trend contains deep lasting impact in terms of the actual purchase and set to continue in the coming times.”
When asked about the immediate challenge faced by the digital adtech startups, the MoMagic CEO responded by saying finding many more ways to contain the fraud and fake online traffic should be done with priority.
He added, “Suppose an entity claims that it would provide you with a million clicks on your ad, how do you verify? Once you find a reliable solution to this problem, the mobile ad tech market is going to witness an exponential growth.”