According to the company's filings with the Registrar of Companies, India-based social media giant Meta recorded a total advertising income of Rs 16,189 crore, or about $2 billion for FY22, an increase of 74% year-over-year (YoY) (RoC). Year on year, revenue increased 116% to Rs. 440 crores, while net income increased 132% to Rs. 297 crores.
A year ago, Facebook India Online Services, the name under which the firm operates in India, recorded gross advertising sales of Rs 9,326 crore.
Previously known as Facebook and TheFacebook, the worldwide technology business now known as Meta Platforms is headquartered in Menlo Park. The company owns several social media platforms, such as Facebook, Instagram, and WhatsApp.
Meta is a big corporation. Along with Alphabet, Amazon, Apple, and Microsoft, it is regarded as one of the "Big Five" information technology businesses in the United States.
Advertising is the key revenue source for all three platforms that Meta in India controls: WhatsApp, Facebook, and Instagram. In addition, the company operates according to a concept known as the "ad reseller" model throughout the country.
Meta offers Facebook, Messenger, Facebook Watch, and Meta Portal. In addition, it owns Oculus, Giphy, Mapillary, Kustomer, Presize, and 9.99% of Jio Platforms. Advertising sales accounted for 97.5% of revenue in 2021.
It is the largest business market in India. As of February 2021, WhatsApp had 530 million users in India, while Facebook had 410 million users, and Instagram had 210 million users, as reported by the country's ministry of information technology.
When Facebook disclosed its first-ever quarterly dip in daily users in February of this year, its finance director mentioned rising mobile data prices as an impediment limiting India's development. It was Facebook's first-ever quarterly drop in daily users.
In addition, it was noticed that women avoided the network because of safety and privacy concerns. An internal study uncovered other challenges, including nudity material, the perceived complexity of the app's design, the local language, literacy limitations, and a need for more attraction among internet users searching for video content.
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