Storyboard18 presents FAST FIVE ⬇
We bring you top five news updates from the world of advertising, marketing and business of brands.
India’s gaming industry set to reach $4.5 billion by 2025, reveals AIGDF survey
The Indian gaming industry is on track to hit $4.5 billion by 2025, with employment potential soaring to 250,000 jobs, according to the latest survey by the All India Game Developers Forum (AIGDF). The report highlights $2.78 billion in investments from FY20 to FY24 YTD, emphasizing both the sector’s rapid expansion and the challenges that must be addressed to position India as a global gaming powerhouse.
EXCLUSIVE: CCI examines emails of former IBDF President K Madhavan, key officials
In a major development in the media cartelization probe, the Competition Commission of India (CCI) cloned the entire email database of former Indian Broadcasting and Digital Foundation (IBDF) President K Madhavan, along with that of key officials of the broadcasting industry body. This action took place during raids conducted on March 18 as part of an ongoing antitrust investigation.
Ola, Uber, Rapido bike taxi services halted by Karnataka High Court
The Karnataka High Court has ordered app-based ride-hailing platforms, including Ola, Uber, and Rapido, to stop offering bike taxi services in the state. The court has given them six weeks to cease operations and has directed the state government to frame necessary regulations within three months.
Unilever acquires personal care brand Wild
British multinational consumer packaged good company Unilever, on April 1 announced that it had acquired natural deodorant brand Wild. Launched in the UK in 2020, Wild is a digitally native brand which has built a consumer base through its direct-to-consumer and retail model, stated the company in its statement.
Global social media ad spend projected to reach $239 billion in 2025, $273 billion by 2026: Report
Performance advertising on social media is rapidly growing—industry forecasts predict that social media ad spend will reach $239 billion in 2025 and is projected to reach $273 billion in 2026. However, new research found that despite social media’s dominance in performance advertising, nearly 75% of performance marketers have noticed diminishing returns from their social media ad investments.
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