Quick-commerce players' ad revenue stream grows | Patanjali Ayurved to deposit Rs 50 lakh for flouting Bombay HC order
Storyboard18 brings you top five news updates from the world of advertising, marketing and business of brands.
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Quick-commerce players' ad revenue stream grows; a key investment focus for advertisers
As players like Zepto and Blinkit receive fresh funding but continue to combat profitability and other challenges, they seem to have activated various forms of revenue streams. One of which is the advertising business on the platforms.
Given the competitive landscape and the ongoing quest for profitability, quick-commerce players are likely to aggressively pursue advertising as a revenue stream, experts told Storyboard18.
Patanjali Ayurved to deposit Rs 50 lakh for flouting Bombay HC order
In response to Patanjali Ayurved's violation of an ad-interim order prohibiting the company from selling its camphor products, the Bombay High Court has ordered the company to deposit Rs 50 lakh.
During the hearing, Justice RI Chagla said Patanjali will have to make up for their contempt since they acknowledged supplying camphor products after the August 2023 injunction order was issued.
Indian esports ecosystem slows down. Who is to blame?
Prime Minister Narendra Modi recently met with top gaming content creators and esports players in India. The entire gaming ecosystem celebrated this recognition from the Indian government and expected a boost to esports and gaming industry. However, the esports industry is currently experiencing a slowdown, causing some organizations to shut down and others to struggle with creating profitable revenue models.
According to a report by AWS and Lumikai, India’s esports sector is projected to grow from $40 million in 2022 to $140 million by 2027, with a Compounded Annual Growth Rate (CAGR) of 32 percent. The report also found that the number of esports players in India grew from 150,000 in 2021 to 600,000 in 2022, and is expected to reach 1.5 million by 2027.
Iconic Hollywood studio Paramount to merge with David Ellison's Skydance
Paramount Global board has approved the plan to merge with independent film studio Skydance Media. Under the deal, Paramount's non-executive chair Shari Redstone will sell her family's controlling stake in the company in a transaction that will result in a new firm worth around $28bn (£21.9bn), claimed reports.
The deal announcement comes weeks after Redstone abruptly called off negotiations with Skydance on June 11.
MahaRERA penalises 628 projects over absence of QR codes in ads, registration number
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has initiated action against 628 housing projects across the state for failing to display their registration number and QR code in advertising materials. The authority has imposed a penalty of Rs 88.90 lakh on them.
It noted that of the 628 real estate projects, 312 projects are from Mumbai Metropolitan Region and 250 from Pune and 66 from the Nagpur region.
The authority has urged homebuyers to avoid transactions with housing projects that do not display the mandatory RERA registration number and emphasised that punitive action against violators will continue.
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