IPL 2024 fuels CTV boom in India as more advertisers harness its strength over linear TV
JioCinema has been aiming for a massive jump in viewership compared to 2023, with a target exceeding 650 million.
The 2024 IPL is experiencing a surging wave of viewers on Connected TV, and this it's just the beginning. JioCinema has been aiming for a massive jump in viewership compared to 2023, with a target exceeding 650 million. A significant portion of this growth is likely on CTV, considering their platform focus and the strategic shift of advertisers towards CTV for IPL 2024.
The Indian Premier League (IPL) 2024 is expected to witness a wide range of brands participating in the tournament, with a mix of large and growing brands. The Tata Group has secured the title sponsorship rights for this season of Indian Premier League (IPL).
Other prominent sponsors include Dream11, Vimal, Asian Paints, Charged by Thumsup, Joy Personal Care, Dettol, and Amul. These brands have partnered with Disney Star, for various sponsorship deals.
“This trend aligns perfectly with India's booming CTV market, a magnet for viewers, broadcasters, and advertisers alike. Therefore, all signs point towards a substantial increase on top of the ongoing CTV viewership surge for the 2024 IPL if compared to 2023. This could reshape how Indians consume live sports and pave the way for further innovation in the CTV landscape, says Russhabh R Thakkar, Founder and CEO, Frodoh World.
Vinay Singh, co-founder of Digixpressions points out that the penetration of CTV will also be witnessed in the Tier 2, 3 markets are consumers are now increasingly using CTV to watch shows in their preferred language.
Rupali Chavan, Senior VP, Mudramax believes that YouTube and Finecast are quoting higher, on a conservative level the number will hit moderate size of 45-50millionn devices. Out of a possible 75 million devices, 40 million will watch it on 4k, the average time per match will be 90 minutes.Not only premium, but also elite audiences by the medium of 4K feed on CTV, which is even more expensive as a TV which is backed by a stable and high-speed broadband to provide zero buffering. If we compare HD vs CTV, CTV devices tuned in during IPL were higher than HD devices, states Chavan.
CTV vs linear
CTV reaches audiences who are no longer watching traditional cable or may never do so, making it a vital medium to connect with viewers shifting towards digital platforms.
As per a Dentsu consumer study, CTV viewers have a higher engagement level with 2.2x engagement level compared to 1.4x on offline media like QR scan, coupon redemption or installs.
Chavan highlights CTV’s dynamic ad insertion, which makes it easier to provide customized advertisements in real-time, based on match moments. CTV can also run in 12 languages.
Singh says, “CTV offers a more engaging and interactive viewing experience than traditional TV commercials, with features like clickable overlays, interactive polls, and gamification elements that enhance viewer participation and create memorable brand experiences. It offers precise and cost-effective audience targeting, allowing advertisers to reach specific demographics more effectively than traditional linear TV.
He adds, “CTV enables advertisers ti measure results in real-time, providing immediate feedback on ad performance and allowing for adjustments to be made swiftly for optimal outcomes. Interactive Features: It provides greater interactivity through apps, voice commands, and interactive content, enhancing viewer engagement and interaction with the advertising content.”
Thkkar points out that the allure of CTV lies in its targeted advertising based on demographics and interests, allowing brands to connect with the most relevant IPL viewers. Additionally, CTV offers measurable results, interactive features for a more engaging experience, and potentially cost-effective reach compared to traditional TV advertising. This makes CTV a powerful tool for brands to maximize their impact during the IPL season.
