With a little over a month left for the 17th season of the Indian Premier League (IPL) to take off, advertisers are strategically aiming for a significant boost on Connected TV (CTV), with a focus on maximising reach and impact.
IPL on CTV had a unique reach of over 125 million on JioCinema in 2023. CTV viewership was reportedly 3X of HD TV live viewership.
The platform had over 40 advertisers and 150 advertisers on connected TV exclusively, including international brands, financial services, e-commerce, autos, B2C, B2B brands.
Experts predict that this season, with JioCinema having proven its effectiveness for maximum return on investment (ROI), the platform is set to experience a substantial surge in advertiser interest.
“It's exciting to see the surge of interest in Connected TV, especially among sectors like FMCG and seasonal brands. JioCinema's acquisition of digital media rights was tested by brands during last year's IPL phase. Advertisers are now more confident about the platform. Jio’s strategic move to not increase ad rates is also a positive for advertisers as it makes entry into IPL more lucrative,” said Niti Kumar, chief operations officer, Starcomm.
According to a recent dentsu report, the drop in interest in linear television is driven by growth in digital and popularity of connected TV (CTV).
With hyper-personalized content recommendations, cross-device viewing, advertisers are expected to allocate more resources to engage their audiences in these evolved environments, leading to increased investments in CTV advertising.
In a strategic move, JioCinema has not increased their ad rates to cater to more brands who are looking for a low entry barrier and to get a significant chunk of business from the bigger advertisers who have a budget earmarked for IPL every year.
This smart strategy not only allows brands to maintain a strong IPL presence without substantial budget hikes but also allows growth in new entrants with a lower entry barrier, said experts. According to sources, the anticipated IPL live stream CPM for JioCinema inventory is around Rs 175, while targeted inventory may range between Rs 225 to Rs 265.
“After digital ad revenues surpassed that of linear TV’s last IPL, JioCinema is also expected to offer multiple innovations for advertisers around the upcoming IPL season, including unique offerings that are a first for the ecosystem,” said another media planner who did not wish to be named.
For instance, JioCinema will launch its newest high-impact feature, Brand Spotlight, an industry-first opportunity during the first game for five select brands to unveil their IPL campaigns in the opening moments of the first match. Additionally, the platform’s masthead will also support video from this season, making it a destination for brands to launch new products, announce sales, unveil new creatives, and more. “There is buzz on the platform offering advertisers a chance to own an entire feed. It is being said that custom feeds can be tailored to a brand’s brief to offer them a way to drive maximum visibility,” the planner added.
As for ad deals, the platform is offering market specific deals tailored for regional brands as well as national ones with a region specific target.
“The market specific deals have proved to be so impactful that TV is beginning to imitate the model,” said another planner.
Overall, the CTV universe is on a growing streak.
According to Siddharth Dabhade, Global Commercial Board Member and Managing Director, at MiQ, driven by shifting TV viewing habits to streaming, access to diverse content across devices, and the low cost of smart TVs, CTV households in India are projected to grow to 100 million, and ad spends on CTV are expected to touch $400 million by 2027 at a CAGR of 45 percent.
“RIGHT NOW IT'S REALLY ABOUT AWARENESS BUILDING, REMINDING FOLKS THAT WE'RE THERE”CHAD WAETZIG
EVP, Marketing & Branding, Crunch