IPL 2024 ad rush: Low barriers attract over 1000 brands to digital platforms

Furthermore, the CTV (Connected Television) universe is on a growth trajectory in India, with advertising on CTV set to grow from Rs 450 crore to Rs 1000 crore in 2023.

According to people close to the development, the number of small ticket size deals signed by JioCinema last season was over 600, priced below Rs 1 lakh.

IPL 2024 ad rush: Low barriers attract over 1000 brands to digital platforms

The upcoming IPL (Indian Premier League) 2024 season has seen increased interest from advertisers on digital platforms with around 1000 brands joining. This shift is attributed to the lower entry-level barriers and overall cost-effective targeting capabilities offered by digital platforms compared to traditional television advertising.

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“Jio Cinemas can watch more than a thousand brands this season. With an abundance of simultaneous live feeds in multiple languages, there are ample opportunities for advertisers to establish their presence and gain a wider reach this season,” said Rushabh R Thakkar, founder and CEO, ad tech company Frodoh World.

While television provides a single point of access across India, the lack of region-specific feeds can limit the targeting accuracy that advertisers can achieve. In contrast, digital platforms offer the flexibility of geo-targeting and demographic targeting, allowing advertisers to precisely reach specific audiences.

This has attracted many new advertisers to the digital space, taking advantage of its ability to target and retarget effectively.

According to people close to the development, the number of small ticket size deals signed by JioCinema last season was over 600, priced below Rs 1 lakh.

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TV vs digital spending

“TV inventory is limited so when it comes to pricing, they cannot go below a certain limit but when it comes to digital, it is not limited. There is no limit to them in terms of price, even if you compare IPL inventory with other cricket properties on TV, so from an entry level perspective IPL on digital can actually generate more money for advertisers than other cricket properties on TV. be cheap for A media planner spoke on condition of anonymity.

Again, it’s important to understand the nature of spending between TV and digital. TV has set rules on the minimum number of matches an advertiser can buy. There is no such barrier for digital.

“Due to digital, even one-day communication is possible. An advertiser can also buy 1000 impressions and they can be burned anywhere. Also on digital there is a non-live ecosystem where costs are much lower and it guarantees viewership from hard core fans so you can invest there as well,” explained another media planner.

According to industry estimates, a TV ad spot for 10 seconds costs between Rs 16-18 lakh and planners usually buy at least three spots for a match and at least 20 matches for real impact. Recommend.

“So you can imagine the difference. We’re not comparing impact here, we’re comparing cost and barriers to entry,” the planner said.

Growth in the CTV ecosystem

The CTV (Connected Television) world is on a growth trajectory in India. According to a recent report by Madison, advertising on connected TV is expected to grow from Rs 450 crore to around Rs 1000 crore in 2023.

A combination of increased digital penetration, sports content, OTT content, targeted advertising capabilities and interactive formats have contributed to this growth.

A similar trend was seen on CTV in IPL last year. IPL 2023 reached over 125 million on JioCinema, the official streamer. CTV viewership was 3 times HD TV live viewership.

“Entry-level spend for a brand on CTV during the IPL can start from Rs 1 crore, which may seem low compared to traditional TV advertising. However, CTV offers flexibility, enabling advertisers to target specific matches or even moments within matches, such as catches, sixes or milestones, for relevant ads. This approach is beneficial for advertisers representing specific teams or markets as they can tailor their strategies accordingly. Unlike TV advertisers, who focus on increasing GRP (gross rating points), CTV offers the advantage of targeting a specific audience in an area,” said Thakkar.

According to Thakkar, last year’s data shows a steady increase in CTV ad spots during the IPL, from 78 spots per match in the first week to 94 spots per match in the fourth week, an increase of 20 percent.

Thakkar said, “On an average, 88 ad spots are seen on CTV per match, indicating the growing importance and demand for CTV advertising in the IPL.”

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