JioCinema Sets New IPL Viewership Records, Attracts Advertisers’ Attention
- ByStartupStory | May 2, 2023
Viacom18’s OTT platform JioCinema has not only broken viewership records during the initial phase of the Indian Premier League (IPL) 2023 but has also attracted high interest from advertisers. JioCinema has announced that it has already garnered 25 sponsors for the ongoing season of the popular cricket tournament. In comparison, last year, Disney+ Hotstar had 13 sponsors for IPL 2022, indicating that JioCinema has seen a 2X growth in the number of sponsors.
JioCinema has announced that Dream11 has joined as the co-presenting sponsor for the digital streaming of IPL, while JioMart, PhonePe and Tiago have joined as co-powered sponsors. Additionally, new-age companies such as Rapido, Amazon and Spotify have also associated with JioCinema for the popular cricket tournament. The high number of advertising sponsors demonstrates the increasing value that brands are placing on digital streaming as internet penetration and smartphone access continue to improve in India.
Viacom18 made a huge acquisition last year by securing the digital streaming rights for the IPL for the period of 2023-2027, with a staggering amount of INR 23,758 Cr. In contrast, its competitor Disney Star used to offer the IPL matches through a paywall, while JioCinema opted to stream the cricket tournament for free to expand its audience reach.
During the T20 tournament’s opening weekend, JioCinema reported a staggering 5 crore new app downloads and over 147 crore video views. Additionally, the free streaming of IPL matches on JioCinema attracted 10 crore new viewers. As per Elara Capital, this move could significantly enhance JioCinema’s subscriber base, putting it in a better position to compete with digital video advertising giants such as Facebook and YouTube India.
According to the TYNY report by GroupM, India’s advertising expenditure is projected to grow by 15.5% in 2023, reaching INR 1,46,450 Cr, with digital leading the way with a share of 56% or INR 82,542 Cr. JioCinema is striving to establish itself as a leading player in India’s competitive OTT landscape by offering licensed and original content in addition to live sports programming. The platform has recently entered into an exclusive content partnership with Warner Bros. Discovery, enabling JioCinema to stream HBO, Max Original, and Warner Bros. content in India starting next month.
JioCinema is set to produce 100 movies and shows costing INR 2,000 Cr, which will be released over the next 18-24 months, as part of its ambitious content strategy. This move is expected to intensify the competition in India’s OTT landscape and could impact established players such as Disney+Hotstar, Netflix, Amazon Prime Video, Zee5, and SonyLIV. As per a report by RBSA Advisors, the Indian video OTT market is anticipated to expand from $1.5 Bn in 2021 to $12.5 Bn by 2030, owing to the rise in internet and smartphone penetration.
Calling all entrepreneurs, investors and business owners! The wait is finally over. The 2nd edition of Startup Story B2B Connect is back with a bang – and this time, we’re taking it up a notch. With more startups, more investors and bigger opportunities than ever before, this is your chance to connect, collaborate and take your business to the next level. Get ready for an unforgettable networking experience that’s set to change the game. Stay tuned for all the exciting updates! Register Now Here.
Follow Startup Story
Related Posts
