Festivals + cricket = joy for India’s digital media sector

India’s digital media sector is set to benefit from a surge in festive season adspend, boosted further by two major cricket tournaments – the IPL and the T20 World Cup – taking place at the same time. 

Context 

• Advertisers held back budgets in the earlier part of the year when the pandemic was at its height, but as infections drop, the vaccination rate increases and lockdown restrictions ease, they are now ready to indulge in “revenge spending”, according to Exchange4Media. 
• Brands have put aside up to 30% of their annual marketing budget for the festive season and plan on spending far more than last year.
• Over the past 12 months people have spent more time on streaming video platforms, which have now penetrated into small metros and towns.
• Digital is no longer regarded as a secondary vehicle, given the time now spent on mobile, connected TVs, and online shopping. 

Where the money will go 

• Video and social are expected to be the big winners with around 55% of spending. Audio is also gaining ground as more people consume audio-only formats.

• In terms of categories, Auto, BFSI, E-commerce, FMCG and Telecoms will continue to spend heavily, with Travel & Hospitality picking up and the D2C category growing strongly.

Key quote 

“According to industry estimates, brands are expected to spend Rs 4,000-5,000 crore on sporting properties on TV & Digital in the current scenario where ad demand is higher than the supply” – Megha Ahuja, VP- Digital Media Planning, Carat India.

Sourced from Exchange4Media