Reports: JioCinema to grab lion’s share of IPL advertising expenditure

The official digital streaming partner of the IPL 2023, JioCinema, is likely to obtain the lion’s share of the advertising expenditure in the ongoing season. It is understood that the streaming partner will make over two-thirds of the total expenditure from advertisements.

According to Media Partners Asia (MPA), the 16^th edition of the top-tier league is projected to generate $550 million in revenue, with digital accounting for more than 60% of the total. Besides this, JioCinema has already surpassed 1,300 crore video views within the first five weeks of the competition. 

As per the Total addressable market (TAM) reports, the Connected TV (CTV) ad spots have shown an uptick of 20% growth. This essentially means that the ads on JioCinema have obtained twice the number of viewers than on HD TV as per a report by News18. Moreover, the CTV platforms have allowed viewers with more flexibility and convenience which is why there is a growing trend in viewership.

Through JioCinema, advertisers are reaching the right audiences at the right price: Jayaraj

Delighted with the increase in viewership, thanks to the CTV ad spots during the IPL, Anil Jayaraj opined on the digital platform breaking the barriers for advertisers and smaller brands to join the bandwagon.

“Fundamentally, digital has options and opportunities for everybody. Digital is also 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 top 100 advertisers," Anil Jayaraj, CEO of Viacom18 Sports said.

“Additionally, we have over 40 advertisers on CTV exclusively, including international brands, financial services, e-commerce, autos, B2C, B2B brands. Connected TV (CTV) advertising spots have been increasing every week of the TATA IPL,” he added.

Impressively, the number of sponsors during the ongoing edition of the league has increased to 26, which is the highest ever for any sporting tournament. According to the reports, the digital platform’s average concurrency rate is nearly triple as compared with the previous editions of the IPL.