Devanathan highlighted that India is a crucial market for Meta, not just for its sheer size but also for its unique characteristics. The country’s young population, high internet penetration, and growing digital literacy are driving the adoption of Meta’s products and services. Meta’s focus on India is evident in its significant investments in the country.
* India is the leading market for short-form video Reels’ watch-time on Instagram. * The country has a large and young population, which is a key driver of the platform’s success. * India’s mobile penetration is high, making it easy for people to access and engage with Reels. * The platform’s algorithm is tailored to cater to the preferences of Indian users.
“The platform is seeing a significant increase in the consumption of its content, with a particular focus on short-form video content. This trend is driven by the rise of mobile devices and the increasing popularity of social media platforms. Short-form video content is particularly popular among younger audiences, who are drawn to its quick and engaging nature.
“So, in terms of user growth, we are very excited by the opportunities and also in the value that we are driving for businesses,” the top executive said. Meta’s optimistic outlook for the Indian market is supported by multiple factors, mainly the strong growth forecast for the economy. The Indian economy is well-poised for growth and aspires to be a 7 trillion dollar economy in coming years, promising new avenues of opportunities, she added. The optimism about India is evident in industry conversations and backed by factors like the demographic dividend with Gen Z and youth population, the momentum in the private sector, growth and innovation, the startup ecosystem, as also the strength of India’s capital markets, she pointed out.
* India’s economic growth is a key driver of its rising advertising market. * India’s ad market is expected to grow significantly in the coming years. * India’s ad market is poised to become a major player in the global advertising industry.
Meta is also developing AI-powered features for WhatsApp Business, such as automated responses, chatbots, and sentiment analysis. These features will help businesses to streamline their customer service, improve their response times, and gain valuable insights into customer sentiment. Here’s a breakdown of how Meta’s AI tools will work:
The ‘MadeonReels’ programme – launched last year to help brands understand the power of creators and the format – yielded strong results. “What we are now seeing is brand organically build for Reels. So, instead of building at the bottom of the funnel, once the whole campaign is done…say when Diwali is upon us…sort of putting something together… Reels are now becoming part of early planning by brands, and it is already in the consideration set when they think about their campaigns. That is a big change we have noticed,” she said. India is also the largest adopter of Meta AI, she said, and pointed out that “Indians love Meta AI, which is great”.
This suggests that Meta’s efforts to diversify its revenue streams and invest in AI are paying off. Meta AI’s focus on large language models (LLMs) has been particularly successful. LLMs are powerful AI systems capable of understanding and generating human-like text. They have revolutionized various industries, from customer service to content creation.
Meta wants to keep up the momentum in India, and be “the best rupee that an advertiser can spend” on the platform, she added. PTI MBI BAL BAL
