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SpiceJet on Wednesday settled its $131.85 million (approximately Rs 1,107 crore) dispute with its lessors, Horizon Aviation 1 Ltd, Horizon II Aviation 3 Ltd, and Horizon III Aviation 2 Ltd, which are the lessors under the management of Babcock & Brown Aircraft Management (BBAM). In a stock exchange filing, SpiceJet said it resolved the dispute with the lessors for $22.5 million.

The no-frills carrier said that by resolving the dispute, the airline has "cleared a significant hurdle, paving the way for improved financial stability and operational efficiency".

The settlement comes close on the heels of SpiceJet’s successful resolution of a dispute with Engine Lease Finance Corporation (ELFC) on September 24, which had claimed $16.7 million. SpiceJet also raised Rs 3,000 crore via Qualified Institutional Placement (QIP) last month.

<a href="https://www.storyboard18.com/agency-news/spicejet-appoints-joyakesh-podder-as-dy-chief-financial-officer-as-cfo-ashish-kumar-resigns-37309.htm">SpiceJet appoints Joyakesh Podder as Dy Chief Financial Officer as CFO Ashish Kumar resigns</a>

Ajay Singh, Chairman and Managing Director of SpiceJet, stated, “This landmark settlement with BBAM allows us to significantly reduce our liabilities and reinforces our efforts to emerge as a more robust airline. Together with the funds raised through our QIP, we are well-positioned to focus on growth, ungrounding our fleet, and expanding our services".

Yesterday, SpiceJet informed that it would be expanding its fleet by November-end by inducting 10 aircraft. According to the domestic carrier, seven aircraft will be acquired on lease, while three previously grounded planes will be reintroduced into service.

The airline has already signed agreements for the leased aircraft, with the full induction of all seven planes expected by November 15. Two of these leased aircraft have already arrived in India and are scheduled for immediate induction, the airline told in an exchange filing on Monday.

<a href="https://www.storyboard18.com/quantum-brief/spicejets-turbulent-aviation-journey-explained-24596.htm">SpiceJet’s turbulent aviation journey: Explained</a>

SpiceJet reported nearly a 20 percent year-on-year drop in net profit at Rs 158.2 crore for the first quarter of FY2025. In the corresponding quarter last year, the company posted a net profit of Rs 197.6 crore.

The revenue from operations fell 15% year-on-year to Rs 1,708 crore between April and June 2024 as against Rs 2,003 crore in the same period of the previous year.

SpiceJet shares were up 4.28 percent to Rs 65.49 on Wednesday at around 11:48 am.

SpiceJet and aircraft leasing company Babcock & Brown settle over Rs 1,100 crore dispute

Women marketing executives at notable companies in India have overcome numerous challenges, including gender-based prejudices and the pay gap to reach the top.

According to specialist staffing firm Xpheno, only 18 percent of the10,000 or so experienced marketing leaders active in the Indian market are women.

However, the short supply and high demand for women leaders have kept compensation packages competitive and in some cases, even higher than those of their male counterparts.

Upasna Dash, the founder of Jajabor Brand Consultancy, told Storyboard18 that dedicating oneself to honing their craft and skillset can help women fight the unequal pay situation endemic in the workplace universally.

Women's representation in top marketing positions is higher in sectors like personal care products (43 percent); IT services and system design (40 percent); F&B (37 percent), non-governmental organisations (31 percent), business consulting and services (31 percent), and information and media (28 percent).

Ankita Srivastava, chief marketing officer at Nat Habit labelled the beauty and personal care industry, which her firm is part of, 'gender agnostic'.

"In my early stint at L’Oréal, women outnumbered men while at RB (Reckitt Benckiser) and Marico, women led large portfolios. At Raymond Consumer Care (now GCPL), I was identified as leading the largest business vertical despite the fact that I was young and a woman," she said.

Siddharth Verma, head, executive search, Xpheno, said that the median salary for marketing leader positions vary by the size, stage and sector that enterprises belong to. Packages also vary widely based on seniority, relevant experience, qualifications and other factors.

According to Verma, "Individual packages range from Rs 1.1 crore all the way up to Rs 4 crore-plus on the other end. These numbers are not necessarily thumb rules or fixed references, and a lot of packages do exist at both the low and high end of the range."

Keerti Singh, co-founder and vice president of marketing at HitWicket, which owns the eponymous online game, agreed that compensation is aligned with the responsibilities and delivery.

"When I was at Amazon, my salary was higher than some of my male counterparts in the same role, but it was due to the output and results I delivered," Singh added.

Several women marketing executives also mentioned some innate strengths that have helped them excel in their careers.

Nisha Khatri, head of marketing at ethnic wear firm Libas, said, "Over time, I have come to appreciate the value-add empathy brings as a skillset. As Bill Gates said ‘Empathy is the biggest skill we are all yet to acquire,’ but with women leaders, the conversation becomes much easier. They are more mindful of both personal and professional growth of their team members."

"Our innate resilience to challenges really helps us to get through the ebbs and flows of life, especially in a country like India," Dash of Jajabor said.

Women in marketing roles have come far, but still have a long way to go

The cost of 'marketing intervention' of government-backed Open Network for Digital Commerce (ONDC), including promotional campaigns has increased to Rs 91.73 crore in FY24, compared to Rs 3.27 crore in FY23, according to a report by Moneycontrol.

ONDC shares discounting costs or incentives that the network participants such as Ola, Magicpin, Paytm, and others offer to their end buyers. 

Separately, ONDC has reduced the magnitude of its incentive payouts over the last few months.

	
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As per the Moneycontrol report, ONDC has told its network players via memo that the maximum incentive each one claimed in October is Rs 40 lakh- an 84% decline from the maximum of Rs 2.5 crore.

The deficit of ONDC (term used for loss profit for non-profit companies) jumped from Rs 46.76 crore in FY23 to Rs 195.61 crore in FY24.

<a href="https://www.storyboard18.com/brand-makers/ondc-to-have-all-metro-services-on-board-soon-thampy-koshy-40178.htm">ONDC to have all metro services on board soon: Thampy Koshy</a>

Citing a source, the report mentioned that the ONDC board is looking to devise a strategy to start earning revenues so that the network becomes self-sustainable.

ONDC raised Rs 569 crore from the issue of equity shares to RBL Bank and Canara Bank in FY24.

 Several new-age firms such as Paytm, Ola, PhonePe, Meesho, Shiprocket, and Magicpin have taken to ONDC. 

With ONDC, the government hopes to increase the penetration of e-commerce in the country, reaching a gross merchandise value of $48 billion.

ONDC increases marketing costs to Rs 91.73 crore in FY24

In India's e-commerce boom, Maharashtra has taken the lead in both the "buyers" and "seller" categories. According to a report by Shiprocket, "How MSMEs of Bharat sell online", the majority of the sellers contributing to the e-commerce ecosystem were concentrated in Maharashtra at 15% in 2023. Karnataka accounted for 9% of the orders across e-commerce platforms, followed by Uttar Pradesh at 8%, Tamil Nadu at 7%, and Delhi and Telangana at 6%, respectively. 


In the geographical distribution of buyers in India, Maharashtra held the top position at 15%. Uttar Pradesh and Karnataka reported a gradual increase in buyers share at 9%.


Overall, north India witnessed a significant increase in the order growth trajectory with the share rising from 26% in 2021 to 29% in 2023.. The share of West India rose from 20% to 21% over the same period. However, South India reported a decline from 27% to 25% in the same span.

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For most small businesses, the most popular product category among consumers was 'Personal Care', accounting for 27% of the orders in the first quarter of 2024, with an average order value of Rs 407. The apparel and footwear category represented 20% of the orders while Electronic only 9%.


The study noted that the vast majority of the buyers (around 84%) placed orders on weekends. Notably, promotions and discounts have a profound impact on e-commerce order volumes. Over the years, the share of discounted orders has increased from 57% in 2021 to 68% in 2023 as per the Shiprocket report.


<a href="https://www.storyboard18.com/how-it-works/online-sales-of-babycare-products-in-tier-2-3-cities-rise-30-percent-in-fy24-unicommerce-34032.htm">Online sales of babycare products in tier 2 & 3 cities rise 30 percent in FY24: Unicommerce</a>


Furthermore, in the international e-commerce market, artificial jewelry remained the top-performing category in e-commerce exports, accounting for approximately 40% of the exports.

Beauty and grooming products contributed 15-20% of the export demand. Whereas, books accounted for a 10-15% share of the Indian e-commerce export market.

International buyers prefer products that blend traditional Indian elements with contemporary design such as home decor items featuring motifs with modern aesthetics or jewellery as per the analysis. Products like silk sarees with contemporary patterns and fusion jewelry were popular among global consumers, the report added.

Moreover, attractive and eco-friendly packaging also plays a key role in consumer purchasing decisions in the international market.

“At Shiprocket, we're witnessing firsthand how MSMEs, the powerhouses of India's eCommerce landscape, propel the market towards its inevitable $300 billion future. This growth isn't just confined to urban centres but resonates deeply across Bharat, highlighting the heart and resilience of our nation," Saahil Goel, MD & CEO, Shiprocket said.

E-commerce in India: Maharashtra takes the top spot in sales and purchases

Streaming giant Netflix Inc, in its 2nd Quarter result of 2023, revealed that India has emerged as its second-largest market in terms of "paid net subscribers additions". Additionally, India is its third-largest market in terms of "revenue percent growth".

The American streaming platform, on Thursday, posted its quarterly result, recording 17% revenue growth to $9.56 billion. The OTT platform's operating margin was up by 27% in Q2 2024 as against 22% last year in the same period.

The global streaming paid membership surged by 16.5% to 277.65 million in Q2 2024 from 269.60 million in Q1 2024.

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In the APAC region (Asia-Pacific region, including India), the paid membership of Netflix increased to 50.32 million (Q2 2024) from 47.50 million (Q1 of 2024). The paid net additions also increased to 2.83 million (Q2 2024) as against 2.16 million (in Q1 2024). The company's revenue grew to $1.05 billion in Q2 2024.

"In Q2 India was out No.2 and No.3 country in terms of paid net subscribers additions and revenue percent growth, respectively," Theodore A. Sarandos, Co-CEO, President & Director said in a media conference. "There's certainly plenty of room to grow in India as long as we keep thrilling our audiences there," Sarandos added.

Netflix President also lauded Sanjay Leela Bhansali and his show "Heeramandi" for the company's success in India in the Q2 of the current calendar year. "SLB is one of the most celebrated filmmakers in India, and he took on this incredibly ambitious series and brought it to screen on Netflix, directed every episode, and it's our biggest drama series to date in India," he said. 

Netflix, in the stock exchange filing, said that in terms of Indian shows and films, Heeramandi: The Diamond Bazaar show amassed 15 million views globally, followed by Diljeet Dosanjh starrer Amar Singh Chamkila (8.3 million views), as well as, licensed films such as Laapataa Ladies and Shaitaan.


<a href="https://www.storyboard18.com/digital/mib-to-meet-netflix-disney-amazon-google-meta-to-discuss-broadcast-service-regulations-34203.htm">MIB to meet Netflix, Disney, Amazon, Google, Meta to discuss broadcast service regulations</a>


Other popular shows in Q2 on Netflix were The Great Indian Kapil Show, Bridgerton S3, Baby Reindeer, Queen of Tears, and films such as e Under Paris, Atlas Hit Man, and The Roast of Tom Brad. 

About the advertisement, Netflix's Chief Financial Officer Spencer Adam Neumann said that the revenue portion of ads is growing "nicely". "The rate of growth, it just happens to be growing off of a relatively small base because we're starting from only 18 months into the ad," Neumann said.


"We've been scaling our ads member base very quickly from 0-2 years ago to where we are today. And we're excited to say that we're on track to achieve our critical scale goals for all of our ads countries in 2025," Gregory K Peters, Co-CEO, president and Director said.

The streaming company also revealed that it is hiring people for sales and operations to meet advertisers. Besides, the company will be launching its own ads server in Canada this year and the rest of its ads market in 2025.


On gaming initiative, Peters said Netflix has launched over 100 games so far, and 80+ games are in development. In Q2, Netflix launched Virgin River and Perfect Match. Starting in July, the OTT platform said it will be launching one new title per month into Netflix Stories.

India emerges as 2nd-largest market for Netflix

Ahead of the release of Despicable Me 4, McDonald’s India – North & East in partnership with a film production company has launched a new marketing campaign. The multinational fast-food chain has partnered with Universal Pictures and will bring new food items and meal options in Minion-themed packaging for the customers. In addition, McDonald’s will transform select restaurants into Minion havens and will invite Minion’s mascot to boost engagement with customers.  Despicable Me 4 is releasing on July 3 in the US.

According to McDonald's India, the new 'Minionised' meal options will include- Choco Caramel McFlurry, Chicken McNuggets (4-pcs), Mega Minion Surprise Meal, and Happy Meal. Along with Happy Meals, customers will receive a special edition Despicable Me 4 book and Minion-themed headband. Happy Meal customers will get access to games and fun activities by scanning the QR code available on the HM box, McDonald's India added.

McDonald’s said it will undergo transformation with Minion-themed decor to celebrate the Minion invasion.

Rajeev Ranjan, Managing Director, McDonald’s India - North and East, said, “McDonald’s has always been a happy place for families, and we are always looking for new ways to create joyful and memorable experiences for our customers. We are incredibly excited to bring the world of the Minions to our customers. We eagerly wait to see broader smiles on the faces of our young guests and their families as they relish these limited-edition meals while engaging in the fun activities".

Customers can experience the Minions celebrations until August 1, 2024, across all McDonald’s restaurants in North and East India.

McDonald's India partners with Universal Pictures, to include 'Minionised' meal in menu

India's young business owners have acknowledged the growth and beneficial impact of adopting digital technology on both their businesses and personal lives. According to PayNearby, a branchless banking and digital network, 75% of the Micro, Small, and Medium Enterprises (MSMEs) owners aged 18-30 were most digitally adeptin the country. And over 87% of this age group were using smartphones for daily business operations and accessing digital content.

As per PayNearby, 65% of the MSME owners utilise some form of digital technology for their daily operations. As many as 68% of MSMEs acknowledged the growth and beneficial impact of adopting digital technology on both their businesses and personal lives.

"The MSME Digital Index 2024 showcases significant progress in technology adoption while highlighting persistent challenges.  We believe that MSMEs should be supported in their digital transformation journey and ensure that technology's benefits reach every corner. By leveraging artificial intelligence (AI), augmented reality (AR), and machine learning (ML), MSMEs in rural India can thrive in a digital-first economy. We must foster an inclusive ecosystem that enhances skills and removes barriers, enabling all businesses to embrace digitalization," Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said.

The use of digital devices was primarily for work purposes, with 36% spending 4-6 hours on their phones. However, when it came to leisure activities such as social media or online entertainment, the report noted that 66% spent less than 3 hours. Among apps, YouTube emerged as the most preferred for both social media (41%) and entertainment (72%). Interestingly, 58% of respondents stated that they did not have any gaming apps installed on their phones.

Further, the report mentioned that over 51% of these businesses spend less than Rs 500 per month on internet usage. The report stated that among all tech-savvy MSMEs, a majority of 29% used accounting software, followed by POS software and Customer Relationship Management (CRM) software at 17% and 14%, respectively, to manage their business operations. Meanwhile, 6% indicated they do not use any software and instead rely on manual methods. 

41% of the MSMEs are using digital devices to streamline financial transactions and efficiently track business expenses, while 18% stated that technology was used to accelerate processes. 

In the financial services category, UPI at 43% and Aadhaar banking at 38% were the two most popular banking services used by MSMEs at the last mile. Additionally, WhatsApp and WhatsApp Business were collectively the most widely used messaging apps, with a usage rate of 97%.

Jayatri Dasgupta, CMO of PayNearby, said, “This comprehensive report underscores the importance of digital literacy and infrastructure in empowering MSMEs. Our findings show a promising trend of increasing tech adoption, but also point out the areas that require more focus and investment".

Over 85% of small business owners using smartphones for biz ops: Report

Marketing presents a distinct combination of opportunities and difficulties for the financial services sector in today's digitally driven environment. The digital trends range from digital brand building and performance-based campaigns to social media handles that are being channelized by different segments of the BFSI sector. Data analytics, big data and hyper-personalization are catching trends, based on today’s consumer behaviour. 

Banks are following digital consumers, during the initial year of the pandemic, there was a significant surge in new mobile banking registrations, peaking by mid-April at a staggering 207 percent above the daily average. This spike reflects the profound shift towards digital banking amongst consumers in response to the pandemic's impact. With increased integration of tech and digital into today’s BFSI marketing, there is an increased need for an organized industry regulated approach, so that data is safe and there is no cyber break in the industry at any given point. Important regulations like GDPR, CCPA, and ASCI are significant in today’s marketing initiatives. 

Below are some industrial guidelines which the marketers in BFSI industry need to abide by:
 
GDPR Compliance: The European Union's General Data Protection Regulation (GDPR) is one of the most important data privacy laws in the world. With harsh penalties for non-compliance, GDPR establishes tight guidelines for gathering, using, and storing of personal data. GDPR compliance is a must for BFSI companies that serve or operate in the EU.

GDPR mandates that BFSI marketers get consumers' express consent before collecting their personal data for marketing purposes in the context of digital marketing. This covers permission for targeted advertising, email subscriptions, and cookies. BFSI companies also have to guarantee the privacy and security of client data and give people the ability to access, update, or remove their data at any time. Adhering to this compliance is crucial in today’s competitive BFSI industry. 

Cyber Crime Compliance: Legal Issues: In India, the legal framework for combating cybercrimes and financial malfeasance is protected by important legislations such as the IT Act of 2000 and the IPC Act of 1860. Complementing these cornerstones are several other laws aimed at preventing financial crimes. These include the RBI Act of 1934, the Forex Management Act of 1999, the Banking Regulation Act of 1949, the Indian Evidence Act of 1872, the Contract Act of 1872, the Negotiable Instruments Act of 1881, and the SARFAESI Act of 2002. Together, these statutes form a robust legal security to safeguard against various forms of financial misconduct and cyber threats.

CCPA and ASCI mandates: The Department of Consumer Affairs (DoCA) and Central Consumer Protection Authority (CCPA) have joined hands to protect the consumer rights, in terms of issuing advertisements. The collaboration will help consumers in the advertising landscape, specially with respect to digital advertising and it will promote transparency and fairness to consumers. Digital advertising is facing new challenges, due to the fast paced growth and developments within the BFSI industry and this collaborative approach will help digital marketers implement transparent practices. 

Fair Practices Code: Marketers operating within the financial sector are obligated to adhere to the Fair Practices Code, which delineates fundamental principles governing their interactions with customers. It serves as a guiding framework, ensuring ethical conduct and fair treatment towards all clientele.

Most importantly, it is important to be transparent in marketing communications by outlining data gathering procedures, privacy guidelines, and customer rights in detail. 
 
Regulatory bodies like AMFI, SEBI, IRDAI are making sure that in the race of digital growth, the interests of consumers are protected. Non-compliance with financial marketing regulations can lead to various risks like Legal and regulatory risks, reputational risks, financial risks, operational risks and it can also impact the strategic direction of financial institutions. While marketing in BFSI is gaining ground, consistent growth in the industry can only happen when companies and marketers adhere to the compliance rules and regulations.

The significance of compliance and regulatory considerations in digital marketing for BFSI

Last week, a leading supply side platform, threw its version of the “end to end” stack into the digital advertising ring. Whether it is from the demand side or the supply side, all end-to-end solutions say that they: 

- Put advertisers in control of their media buying strategy, while simultaneously driving more revenue to publishers.

- Significantly increase spend going towards working media, make it easier for brands and agencies to securely share data, and helps publishers generate more revenue.

- Give a simplified, direct connection to the publishers across the open internet; by supporting an objective, transparent supply path; maximising value for everyone.

- Help trade through the most direct and efficient path to premium omnichannel supply with their demand side to supply side (DSP-to-SSP) architecture. 

- Fully integrate commerce media platform that offers end to end stack bringing consumers to brands, audiences to publishers and brands to retailers.

No prize for guessing who these companies are. With this, the commoditization of Open Web advertising is all but near complete.

When the IAB TechLab launched Project Rearc in 2020 in response to the deprecation (or limitation) of third-party cookies and other identifiers; a set of five initiatives was proposed to address the need. First and foremost was the Global Privacy Platform (GPP) protocol designed to streamline the transmission of privacy, consent, and consumer choice signals from sites and apps to brand, platforms and ad tech providers. IAB TechLab also proposed fresh accountability standards, seller defined audiences, tokenization frameworks for user enabled identifiers and privacy enhancing technologies. For nearly three years, since 2020, the AdTech industry has tried to build various solutions, including the Privacy Sandbox from Google. While there are different solutions that are being developed there is one area where there is absolutely no solution in sight and that related to the “transmission of consent and consumer choice signals”. 

The emergence of the end-to-end stack from all the leading AdTech providers must be seen in this perspective. Transmission of consent and consumer choice signals across the fragmented digital supply chain is not possible in the current form. It requires an alarming level of trust, transparency and compliance sync up from all the participants in the supply chain. The industry has chosen to “centralize and pack up” than to “rebuild and collaborate”. This has resulted in the commoditization of the AdTech supply chain, with no real differentiation. Value exchange and the related value creation has now totally shifted to advertisers and publishers, as they own the consumer choice signals and their consent.

Read more: <a href="https://www.storyboard18.com/quantum-brief/madtech-point-decoding-the-role-of-account-aggregators-15121.htm">MAdtech Point: Decoding the role of account aggregators</a>

Assume for a moment that advertisers and publishers have fixed their consent management obligations and let us play out what next. From an advertisers perspective their ad monies will now be distributed across 10-15 walled gardens and/or end to end stacks, with no common or consistent metrics to compare each one of them. Optimizing media monies between these 10-15 initiatives is not possible, as all of them have centralized their respective tech stacks. Even as advertisers offer their first party data for collaboration to all these 10-15 initiatives, they will struggle to find out which one of them have done better than the other. Cross media/platform measurement will become the most important requirement in the future. 

The industry has only postponed the collaboration agenda. By packing the digital advertising supply chain into an end-to-end stack, they have only temporarily fixed the problem that came with the deprecation of third-party trackers but left the measurement agenda wide open to solve. So far, the advertisers have largely remained silent or at best reacted to the technological changes brought in front of them by platforms and publishers. Now is the time for them to push the measurement agenda. This is the only missing piece in the digital advertising supply chain today. World Federation of Advertisers (WFA) have clearly enumerated the global and local architecture that is required for measurement. Big Tech platforms have all agreed and aligned to participate. It is now left to the local market to adapt and build it. 

Will the AdTech ecosystem and the industry body in India take the mantle and deliver it? 

Gowthaman Ragothaman is a 30-year media, advertising and marketing professional and CEO of Aqilliz, a blockchain solutions company for the marketing industry.

MAdtech Point: Why digital advertising supply chain needs to focus on measurement

As we approach the second half of 2023, recent shopping sentiment surveys reaffirm the desire and appetite of consumers to spend during the upcoming festive season. Predicting double-digit growth in spends over the previous year and an increase in basket sizes, marketers are gearing up for the opportunity to influence consumer spending and increase sales.

Advertising momentum in H2

After a modest performance in H1, India Inc. is expected to see momentum in brand and advertising growth, led by the ICC Men’s Cricket World Cup and other big-ticket properties on TV, coinciding with the peak festive season and providing an additional boost to the industry.

The overall advertising expenditure increase will be driven by FMCG leading the pack as volumes come back and the rural markets recover, along with sporting properties adding intensity and providing an opportunity for brands to engage in impactful advertising.

Entertainment and digital domination

The entertainment lineup in the form of big-ticket properties such as Bigg Boss and KBC will continue to drive viewership owing to profound audience affinity and as advertisers leverage the medium from a brand-building and a long-term resonance perspective. Digital will continue to be leveraged for performance and driving calls to action.

Caution in ad spending

While ad spends are likely to go up, the rate of growth will be tempered as startups focusing on profitability stay away from the action amid the funding winter. Following the new taxation policy, e-gaming brands, too, will exercise caution.

However, FMCG, real estate, durables, electronics, auto, and ecommerce, among others, are more than likely to cover the gap as brands across categories launch new products and premium segments stay resilient to inflation.

Political and news impact

Besides cricket drawing audiences to the medium, the five state elections slated in the upcoming months of 2023, followed by the Lok Sabha elections in 2024 will also benefit news channels as they expect a double-digit increase in revenue along with growth in the number of advertisers. Viewership growth and high engagement levels will lead to improved returns for advertisers, portending greater demand and thus growth in adex.

Print, radio, OOH, and cinema resurgence

Print is likely to see recovery with an uptick in government spending, while radio will continue to gain strength as a retail medium for last-mile connections, with short but intense bursts of activity. The return of mobility will impact OOH positively as brands experiment and innovate with the medium.

Cinema is bouncing back already as movie-goers return and theatres regain popularity. Marketers can leverage this platform for immersive, large-screen experiences for long-term equity building as well as new launches. Crafting memorable ads and experiences can help create a strong emotional connection for advertisers with audiences.

Sports media powerhouse

Sports media continues to be a powerhouse, attracting a vast and engaged audience with a once-in-a-decade opportunity as the Cricket World Cup comes home after a hiatus of 12 years.

With Disney Star broadcasting the ongoing Asia Cup and the upcoming ICC Men's Cricket World Cup free to view for all mobile phone users, democratising the game for 500 million-plus smartphone users across the country, marketers will have an opportunity to target sports enthusiasts with precision, given the vast options and special custom packages.

Digital transformation continues

The digital ecosystem will continue to witness increased investments in programmatic advertising, along with emphasis on contextual and hyper-localisation by tailoring content for specific regions and markets. Advertisers will continue to leverage customisation to ensure that the message speaks directly to every audience cohort, capitalising this in full force owing to the coming together of cricket and the festive season.

Ecommerce integration within social media platforms will continue to be on the rise, facilitating seamless shopping experiences.

Overall, the second half of 2023 promises to be action-packed with significant events lined up alongside a jubilant festive season. As marketers, embracing this opportunity to amplify brand equity and simultaneously driving sales growth will be crucial. Adapting audience-centric festive marketing strategies can help marketers monetise this period successfully.

The writer is associate VP - strategy, Lodestar UM. Views expressed are personal.

DIGITAL MARKETING