Viacom18 acquired the Indian Premier League 2023’s digital broadcasting rights for the next five years. This indicates that JioCinema and Star India channels hold the official rights to broadcast and stream live IPL matches on TV and digitally, respectively.
Viacom18 expects a revenue target of Rs 3700 crore from the 2023 Indian Premier League (IPL) through sponsorship deals and advertising income of around Rs 320-380 crore.
Walt Disney’s Disney Star and the media firm financed by Reliance Industries are at odds about who will receive the biggest chunk share of media advertising.
IPL 2022 brought in Rs 1500 crore in advertising income for Disney+Hotstar, the exclusive IPL streamer up till last year. According to estimates, Disney Star received Rs 3500 crore in TV ad income from the IPL 2022. Although there was a greater overall demand for advertising on Disney+Hotstar during IPL 2022, the platform could not meet it because it already had a sell-through rate (STR) of 95%.
Viacom 18 is setting a vast ad revenue target stems from the fact that Jio Cinema is eyeing an audience reach of 550 million for IPL 2023 since it will be free of cost for all users irrespective of device and platforms. The company is particularly bullish about the big screen as the Connected Tv(CTV) universe is projected to reach 100 million this year. It expects Jio Cinema’s audience reach on CTV to be over 75 million.
Jio Cinema offers adaptable packages with various outlays to bring on advertising of all scopes and sizes. The organization anticipates that more than 500 ads will be uploaded on Jio Cinema during IPL 2023. Jio Cinema is looking for midroll ad revenues of Rs 200–250 every 10 seconds. Pre-roll advertisements cost Rs 225–300 every 10 seconds. The cost of a spot on CTV is Rs 6.5 lakh for every 10 seconds.
Additionally, Viacom 18 has finalized an aggressive marketing plan for the IPL 2023. To promote the property, the business plans to invest Rs 400 crore. To transform Jio Cinema into a sports-first streaming behemoth, Viacom18 has been making all of its live sports programming accessible. For the IPL on Jio Cinema, Viacom18 will feature around 15 streams, including 11 language feeds. The platform will offer commentary in native languages for important regional markets where IPL franchises are headquartered.
