JioCinema, the official digital streaming partner of the IPL 2023, will likely receive the lion’s share of advertising spending during the current season. It is expected that advertisements will account for more than two-thirds of the streaming partner’s revenue.
Media Partners Asia (MPA) projects that the sixteenth season of the premier league will generate $550 million in revenue, with digital accounting for more than 60% of the total. In the first five weeks of the competition, JioCinema has already surpassed 1,300 billion video views.
According to the Total addressable market (TAM) reports, Connected TV (CTV) advertising spaces have increased by 20%. According to a report by News18, advertisements on JioCinema have obtained twice as many viewers as those on HD television. In addition, CTV platforms have provided viewers with greater flexibility and convenience, resulting in an upward trend in viewership.
Through JioCinema, advertisers reach the appropriate audiences at the appropriate cost: Jayaraj
Anil Jayaraj, elated by the increase in viewership brought on by the CTV commercials during the IPL, opined that the digital platform was breaking down barriers for advertisers and lesser brands to join the bandwagon.
“Digital offers options and possibilities to every individual. In addition, digital is measurable and targetable. Through JioCinema, advertisers are able to reach the appropriate audiences at the appropriate cost. JioCinema has also allowed many advertisers, smaller brands, and companies to join the bandwagon, which was previously the exclusive domain of the top 100 advertisers, according to Anil Jayaraj, the CEO of Viacom18 Sports.
“We have over 40 exclusive advertisers on CTV, including international brands, financial services, e-commerce, automobiles, and B2C and B2B brands. Every week of the TATA IPL, the number of Connected TV (CTV) commercials has increased,” he added.
During the current season of the league, the number of sponsors has increased to 26, the highest number ever for any sporting event. According to the reports, the average concurrency rate of the digital platform is nearly three times that of previous IPL seasons.