From cricket fever to digital transformation: Media trends set to dominate H2 2023

As we approach the second half of 2023, recent shopping sentiment surveys reaffirm the desire and appetite of consumers to spend during the upcoming festive season. Predicting double-digit growth in spends over the previous year and an increase in basket sizes, marketers are gearing up for the opportunity to influence consumer spending and increase sales.

Advertising momentum in H2

After a modest performance in H1, India Inc. is expected to see momentum in brand and advertising growth, led by the ICC Men’s Cricket World Cup and other big-ticket properties on TV, coinciding with the peak festive season and providing an additional boost to the industry.

The overall advertising expenditure increase will be driven by FMCG leading the pack as volumes come back and the rural markets recover, along with sporting properties adding intensity and providing an opportunity for brands to engage in impactful advertising.

Entertainment and digital domination

The entertainment lineup in the form of big-ticket properties such as Bigg Boss and KBC will continue to drive viewership owing to profound audience affinity and as advertisers leverage the medium from a brand-building and a long-term resonance perspective. Digital will continue to be leveraged for performance and driving calls to action.

Caution in ad spending

While ad spends are likely to go up, the rate of growth will be tempered as startups focusing on profitability stay away from the action amid the funding winter. Following the new taxation policy, e-gaming brands, too, will exercise caution.

However, FMCG, real estate, durables, electronics, auto, and ecommerce, among others, are more than likely to cover the gap as brands across categories launch new products and premium segments stay resilient to inflation.

Political and news impact

Besides cricket drawing audiences to the medium, the five state elections slated in the upcoming months of 2023, followed by the Lok Sabha elections in 2024 will also benefit news channels as they expect a double-digit increase in revenue along with growth in the number of advertisers. Viewership growth and high engagement levels will lead to improved returns for advertisers, portending greater demand and thus growth in adex.

Print, radio, OOH, and cinema resurgence

Print is likely to see recovery with an uptick in government spending, while radio will continue to gain strength as a retail medium for last-mile connections, with short but intense bursts of activity. The return of mobility will impact OOH positively as brands experiment and innovate with the medium.

Cinema is bouncing back already as movie-goers return and theatres regain popularity. Marketers can leverage this platform for immersive, large-screen experiences for long-term equity building as well as new launches. Crafting memorable ads and experiences can help create a strong emotional connection for advertisers with audiences.

Sports media powerhouse

Sports media continues to be a powerhouse, attracting a vast and engaged audience with a once-in-a-decade opportunity as the Cricket World Cup comes home after a hiatus of 12 years.

With Disney Star broadcasting the ongoing Asia Cup and the upcoming ICC Men's Cricket World Cup free to view for all mobile phone users, democratising the game for 500 million-plus smartphone users across the country, marketers will have an opportunity to target sports enthusiasts with precision, given the vast options and special custom packages.

Digital transformation continues

The digital ecosystem will continue to witness increased investments in programmatic advertising, along with emphasis on contextual and hyper-localisation by tailoring content for specific regions and markets. Advertisers will continue to leverage customisation to ensure that the message speaks directly to every audience cohort, capitalising this in full force owing to the coming together of cricket and the festive season.

Ecommerce integration within social media platforms will continue to be on the rise, facilitating seamless shopping experiences.

Overall, the second half of 2023 promises to be action-packed with significant events lined up alongside a jubilant festive season. As marketers, embracing this opportunity to amplify brand equity and simultaneously driving sales growth will be crucial. Adapting audience-centric festive marketing strategies can help marketers monetise this period successfully.

The writer is associate VP - strategy, Lodestar UM. Views expressed are personal.