JioCinema, the official digital streaming partner of TATA IPL 2023, expects to command the highest advertising expenditure (AdEx) for the ongoing season with more than two-thirds of the total AdEx contribution coming from the steaming platform.
For this season, the number of sponsors during IPL's digital streaming has reached 26, which is the highest ever for any sporting tournament, the platform said.
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“Digital is measurable and targetable. Through JioCinema, advertisers are reaching the right audiences at the right price. JioCinema has also opened doors for a lot of advertisers, smaller brands and companies to join the bandwagon, which used to be the exclusive preserve of the top 100 advertisers. Additionally, we have over 40 advertisers on CTV (connected TV) exclusively, including international brands, financial services, e-commerce, autos, B2C, B2B brands. Connected TV advertising spots have been increasing every week of the TATA IPL,” Anil Jayaraj, CEO, Viacom18 Sports.
According to the recent TAM (an audience analysis firm) report, CTV ad spots have showed a 20 percent growth. TATA IPL 2023 on connected TV has reached twice the number of viewers than on HD TV, indicating the growing trend of viewers preferring the convenience and flexibility offered by CTV platforms, the over-the-top platform said.
“JioCinema's CTV is the go-to platform for IPL viewers across India, with high-quality 4K streaming and extensive language options. Advertisers can tap into this vast and affluent audience to increase brand awareness and engage with passionate cricket fans. Showcasing our brand's message on CTVs for an immersive and engaging viewing experience drives high recall. It's an opportunity to reach a large, engaged audience and grow your brand with Jio Cinema's CTV platform during IPL matches,” said Sandeep Shukla, General Manager & Head Marketing Communication, Jaquar Group.
JioCinema's real-time number tracking system enables advertisers to evaluate their reach, and with more people watching IPL on the move, the platform's average concurrency rate is almost triple that of last year.
“The innovations in ad delivery have enabled us to take our campaign go.ev with Tiago.ev not only to urban India, but also to smaller towns. We wish to drive tremendous value from this partnership and fast forward the ongoing EV adoption in India," said Vivek Srivatsa, Chief Marketing Officer, Tata Motors EV.
According to Media Partners Asia (MPA), the IPL 2023 edition is estimated to generate $550 million in revenue, with digital capturing over 60 percent of the share. In the first five weeks of the tournament, JioCinema has recorded over 1,300 crore video views.
As per a report by Synchronize, a marketing and consumer insights company and Unomer, a digital consumer insights platform, 73 percent of viewers are watching IPL on JioCinema.
“Our clients have had a positive experience, as we have seen the high concurrencies resulting in impressions having delivered on most campaigns," said Vishal Chinchankar, CEO, Madison Digital. "In some cases our client have reallocated investments on digital medium for IPL," he said.
