Facebook became Meta and under it fell all of its acquired platforms including Instagram, WhatsApp and more. Recently Meta Platforms Inc. came out with its quarterly sales and in it for the first time saw a decline.
The reason for this is reportedly said to be the decreasing budget of advertisers and how they are no longer spending as much on Facebook ads as before. The second quarter of Meta revenue was recorded as $28.8 billion which missed the estimated average of $28.9 billion. There was also a drop in shares by around 8.7%, supposed to be one of the biggest decreases in two months.
However, in the midst of all this, a study came out detailing the amount of money that Indian advertisers spend on Facebook and Instagram. And the results of it were certainly interesting to note.
Biggest Indian Advertisers On Facebook
While overall there has been a drop in ad expenditure, India seems to be on a spending spree when it comes to ads on Facebook and Instagram. A study conducted by Pyrite Technologies, a Hyderabad-based enterprise digital marketing agency noted over 12,000 Indian brands, organisations, pages, people and more and how much they were spending on Facebook ads.
Titled “Facebook Ad Library Report India From 27th April to July 2022” the data pointed out some of the biggest Indian advertisers on these platforms with the biggest one being Sadhguru, a spiritual master and his organisation Isha Outreach. As per the company’s Facebook post “Over the past 90 days, Sadhguru alone has invested ₹9,924,933 INR on Facebook ads” and the ones that followed after Koo the microblogging app, Voot Select the OTT platform, UNICEF and more.
Read More: Facebook Knew Instagram Was Toxic For Teens, Especially Girls, But Chose To Ignore It: Report
The data as per an Economic Times report was collected from the Meta Ad Library and this is public since most of these ads expenses fall under causes like social and political. It is also believed that the expenses by brands who don’t need to disclose their numbers spend even more on their advertisements.
The company’s Facebook post also noted that “FYI, Sadhguru & Isha Outreach has spent ₹ 7,17,08,957 INR in these 90 days, at an average of ₹ 8 Lakhs INR/Day or $10,000/Day” and that “Meta Ad Library has also reported ₹13,94,25,986.66 INR ad spending in the last 90 days for India alone.”
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Feature Image designed by Saudamini Seth
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This post is tagged under: Indian Advertiser Facebook, facebook ads, facebook ad spending, indian advertisers, Sadhguru, Isha Foundation
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