A global study by IT services major TCS says that companies across the globe, including India, will spend an average $19 million (Rs 119 crore) on social media this year, Financial Express reported. It further said that since 2010, 64 per cent of the firms covered have assigned at least one full-time equivalent (FTE) to use public social networks like Facebook, Twitter and LinkedIn.

Companies will spend an average of nearly $19 million per company this year on social media and will increase that to $24 million by 2015," said the report titled 'Mastering Digital Feedback: How the best consumer companies use social media'.

Market research firm ResearchNow surveyed 655 respondents from mostly $1 billion plus consumer companies in June and July this year, the average revenue of which was $15.6 billion (median of $4.9 billion), the report added.

"56 per cent of respondents have measured the return on social media investments and most of them say it has been positive," the report said.

Read the complete report here