ITV

Tag: Digital

  • JK Lakshmi Cement’s new ad celebrates freedom of owning a home

    JK Lakshmi Cement’s new ad celebrates freedom of owning a home

    Mumbai: JK Lakshmi Cement, in association with BC Web Wise, launches its new digital ad film called #IndiaAbSoschBulandKaro to celebrate the country’s 75 years of Independence with a unique insight on freedom.

    The ad film revolves around a man who is eagerly waiting to move into his own home. He recalls the moments he spent in a rented house and now is gratified that he does not have to abide by rules anymore. It subtly brings out patriotic sentiments and celebrates a new facet of independence and belonging that comes with living in one’s own home. The brand applauds the ‘Buland Soch’ of celebrating freedom in one’s own home.

    “In India, barring a small percentage of the population that belongs to the economically upper-class segment, the rest of the country aspires to have a home of their own and is probably the first thing on their wishlist. This film precisely captures the emotion of liberation and sense of ownership that is always missing in a rented house, by highlighting the glory, pride and freedom associated with one’s own home. It is freedom in its true essence,” the company said.

  • Understanding ALTBalaji’s ‘under 35 viewers’ with Divya Dixit

    Understanding ALTBalaji’s ‘under 35 viewers’ with Divya Dixit

    As ALTBalaji senior vice-president – marketing and revenue, Divya Dixit has played a pivotal role in driving the company’s vision in the fast-growing and dynamic OTT sector. She carries over two decades of experience in business, marketing and brand building across the digital, OTT, broadcast, telecom, music, and retail industries. Before joining ALTBalaji in 2018, she was with ZEE5 where she conceptualised and developed the brand ‘ZEE5 ‘and ‘ZEE5 Originals’, as well as launched the platform and multiple original shows.

    At ALTBalaji, Dixit looks after marketing budgets and recovery via direct subscription revenue. She is also responsible for the overall growth of the platform, program scheduling, and analytics as well. Under her leadership, ALTBalaji has been one of the top three grossing OTT apps, having doubled its direct revenue YOY in the years 2018-19 and 2019-2020.

    On Tuesday, Balaji Telefilms announced its financial results for AMJ 2021, as per which ALTBalaji sold a total of 1.8m subs, up 35 per cent QoQ. Its direct subscription revenues stood at Rs 17cr. Boasting a current active subscriber base of 2.4m (excluding subscribers on partner apps), AltBalaji continues to drive growth for the Company.

    Interestingly the platform is also turning younger everyday with 80 per cent of the current viewers being less than 35 years of age. The brand has registered a 100 per cent YoY growth with respect to the same, especially in the hinterland markets. According to Counterpoint Research’s Survey, AltBalaji’s 25-35 audience accounted for 59 per cent of its users in 2019. The development is significant because ultimately it is this age group which drives the OTT market.

    Indiantelevision.com’s Ashee Sharma got into a freewheeling conversation with ALTBalaji, senior VP – marketing and revenue, Divya Dixit to understand this under-35 viewer base and more.

    Edited Excerpts

    On ALTBalaji’s young viewer base and the value it holds for the brand

    Youth programming continues to be our focus at ALTBalaji. We are striving constantly to keep the stories as young, inclusive, and as vibrant as possible in the hope of making a difference to the future of society. Some of our top viewed shows in this category have been Broken But Beautiful Season 3, Puncch Beat, Dev DD, Crashh, Dark7white, and LSD.

    We are here to make disruptive content that breaks stereotypes and is relatable to New India, and this development is significant for us because it implies that our brand has been able to crack the code for the youth and those young at heart. It has made ALTBalaji the benchmark for other OTT platforms. We expect a steady surge in viewership, especially among the 18-35 year olds who are leading the binge-watching trend today.

    On the difference between this audience and the rest in terms of consumer behaviour

    Most of OTT consumption happens with viewers under the age of 35 years who are far more tech-savvy, however also most often the busiest. Shorter attention spans seem to be a universal thing with this demographic unless their interest is piqued. So it becomes necessary for us to create content that catches the viewers’ attention right from the get-go. Nowadays, content is all over the internet, and with the intense competition, cracking the code to a viewer’s interest is most important. We believe we have been successful in this regard. Our engagement metrics have gone up from 48 minutes a day in FY18-19 to 83 minutes currently and the audience comprises 21.29 per cent women, with men dominating at 78.71 per cent. 

    On the content and marketing strategy for the <35 yrs TG

    At ALTBalaji, digital marketing is an important element of the marketing mix. Associating with like-minded brands, engagement across short format apps, using actors’ social media reach, and activities with youth influencers for content promotion, have been our primary approaches.  We have a robust analytics platform with a live dashboard that provides us information on views and engagement, as well as the demographic details of our subscribers. This helps us in understanding behavioural consumption patterns, and drives our content and marketing strategies.

    The youth has most definitely made a shift towards OTT platforms over traditional means of entertainment. However, the debate over their preference for movies or shows is still on. ALTBalaji has noticed the people under 35 lean in favour of shows that break stereotypes and have unique narratives, and so we continue to launch shows across genres such as thriller, crime, romance, and drama, all the while maintaining our focus on out-of-the-box story ideas.

    Moreover, our content is tailor-made to attract larger audiences. Currently, in India, the most widely spoken language among approximately 70 per cent of the population is Hindi which has been the priority for ALTBalaji. 95 per cent of our content is Hindi originals, although various other shows have been dubbed to ensure that the content is not limited to the Hindi-speaking populace. . Our recent shows like Broken But Beautiful, Mai Hero Boll Raha Hu, His Storyy, and The Married Woman have given us a massive surge in viewership. 

    On the thought process behind targeting this age-group 

    This age group is the one that sparks maximum creativity among writers and content creators, and that’s because they have a voracious appetite for unique narratives. Also, it made sense to cater to an audience that is well-versed with technology, willing to experiment and pay upfront for content. The phenomenon of Binge-watching actually started them, and so, it was only reasonable for us to work with the low hanging fruit first. We saw a huge increase in subscriptions, with growth percentages doubling in multiple cities including Lucknow, Rohtak, Ludhiana, Srinagar, Guwahati, Shimla, and Ranchi, to name a few.

    On the impact on advertising revenue, and if attracted similar brands to the platform – brands that catered to younger audiences.

    In 2020 alone, ALTBalaji has partnered with almost 25-30 brands for various shows. Our marketing strategy includes brand collaborations as it helps us to reach out to a larger audience. The partnerships have also kept our existing users incredibly engaged with all the collaborated offers they receive. 

    Young brands including Imagicaa, Pipo Popcorn, My Imagine Store, Growfitter, Ferns N Petals, and Ixigo have recently partnered with us for our youth drama Puncch Beat 2. These associations include value-added services to our existing customers. For instance, Ferns and Petals, our official gifting partners for Puncch Beat 2, provided a 20 per cent discount coupon to our viewers on their next billing. Ixigo is associated with us as the travel partner allowing 20 per cent off exclusively for ALTBalaji subscribers. The offering is based on the insight that the youth love discovering the world. Growfitter, the fitness partner for our recent shows, provided free one-month Growfitter Premium Subscription to the ‘fitness-conscious’ contest winners. In addition, brands like Imagicaa, Pipo Popcorn, and My Imagine store have been roped in as entertainment, snack, and gadget partners, respectively, thus encouraging the new audience to get on board.

    On the evolution of the business and subscription models of ALTBalaji

    Brands are increasingly starting to be aware of the growing popularity of OTT. Associating with the right brands would be a win-win for both partners by gaining visibility among the right target audience through in-show integrations and surround marketing. In 2020 alone, revenue from mobile internet advertising in India was Rs 7331 Cr and is predicted to rise to Rs 22,350 Cr in the next five years, increasing at a 25.4 per cent CAGR as per PwC’s Global Entertainment & Media Outlook 2021-2025. Utilising this fast-paced growth to the maximum potential will prove highly lucrative to businesses. However, the revenue model is still evolving. Constant innovation and timing are both the key and the challenge in this sphere. Getting it right could prove extremely fruitful for both players in the partnership.

    Talking of subscription models, there is a consumer out there for every content choice. AVOD/SVOD/TVOD are business models and the only choice the consumer has to make is if he/she wants an ad free experience or is comfortable with ads interrupting the viewing experience. As far as TVOD goes, it’s yet to see some traction in India as OTT platforms are still priced very economically. However, in developed countries where SVOD is largely the order of the day, TVOD as sampling for a particular piece of content works very well.   

    I believe in the long term SVOD is a more sustainable model, and the good news is that more and more audiences are willing to pay for content which has moved the SVOD needle up from 5 per cent, three years ago to almost 25 per cent currently. Our subscription model is priced at INR 300 annually while our quarterly plan costs 100, and half-yearly is set at 180. This is not just for youth but for democratisation of content in the country.

  • Essel Group chairman Subhash Chandra settles 91% debt to 43 lenders

    Essel Group chairman Subhash Chandra settles 91% debt to 43 lenders

    Mumbai: Essel Group chairman Subhash Chandra has issued a second Open Letter sharing details of the debt resolution process and the steps taken to pay off the lenders. The Zee founder revealed that over 91 per cent of the debt has been settled to 43 lenders, and the remaining dues are in the process of being paid.

    In his first Open Letter issued on 25 January 2019, Chandra had apologised for the hardships faced by the lenders due to the liquidity crisis triggered by the IL&FS case and committed to repay the monies to the best of his abilities. The asset divestment process took a setback during the pandemic, which slowed down the overall debt resolution process, he wrote on Tuesday.

    “I am happy to report that we have come out of the financial stress situation by settling 91.2 per cent of our total debt to 43 lenders in 110 accounts. 88.3 per cent amount has been paid, while the remaining 2.9 per cent is in the process of being paid. We are making all the required efforts to settle the remaining 8.8 per cent of our total debt,” wrote Chandra. “I have no regrets for parting with a substantial ownership in the business and specially in the ‘jewels of the crown’. This was done to keep the family’s honor.”

    The Essel Group chairman further added that he intends to settle the remaining outstanding dues before the end of this fiscal year or before.

    He also shared that he does not regret the decision taken to part with a substantial portion of his ownership in his key businesses, attributing this decision taken to preserve the honour of his family, while reiterating the exit from the Infrastructure, Financial services & Print Media businesses.

    Elaborating on his next steps in terms of setting up a venture in the video space in the digital ecosystem, Chandra said, “I have earned a fair experience in the video business; hence I am exploring new ways / business opportunities in the “video in digital space” as well as AI/ML (Artificial Intelligence & Machine Learning) in the video space, without getting into any conflicts with ZEEL, in any manner. I will provide the specifics very soon and you all will witness the initial phase of launch, of yet another pioneering venture.”

    Noted Investment Banker, Venture Capitalist and Stock-Market expert, Vallabh Bhansali said, “In nearly forty years of our friendship, he has always made me feel proud. His achievements as a visionary businessman pales before his act of honour to sacrifice all he built for the sake of it. So also his humility to admit his errors openly. In fifty years of my business career, I can’t think of a parallel.”

  • Global cost of TV advertising up by 5%: Zenith

    Global cost of TV advertising up by 5%: Zenith

    MUMBAI: The overall global advertising expenditure is set to grow 11.2 per cent in 2021, according to Zenith’s latest mid-year Advertising Expenditure Forecasts report, released on Monday. This rise will mainly be driven by the exceptional demand for performance-led ecommerce advertising on online video, says the report.

    In fact, the cost of television advertising is up 5 per cent this year on average, well ahead of its one per cent adspend growth rate, led by rapid recovery in ad spend and continued migration of audiences from traditional to digital channels which is fuelling substantial increases in media prices, particularly for television. The volume of audiences reached worldwide via television is, however, shrinking.

    Digital, on the other hand, is growing mainly due to rising audiences and more extensive monetisation, with online video inflation averaging seven per cent, and social media roughly flat, compared to their 26 per cent and 25 per cent respective ad-spend growth rates. Advertising expenditure will total $669 billion this year, $40 billion more than was spent before the pandemic in 2019, as per the report.

    Growth in ad spends is expected to remain robust in the medium term, with 6.9 per cent growth forecast for 2022 and 5.6 per cent for 2023.

    Social media and online video have eclipsed traditional static display, which is forecast to shrink by 15 per cent this year. Overall, Zenith expects digital advertising to grow by 19 per cent in 2021, and increase its share of total adspend to 58 per cent, up from 48 per cent in 2019 and 54 per cent in 2020.

    Most other media are enjoying growth this year, as spending rebounds from the 16 per cent drop in traditional media adspend in 2020. Cinema and out-of-home were the worst affected by COVID-related restrictions, shrinking by 72 per cent and 28 per cent respectively, and will enjoy the fastest recovery in 2021, with respective growth rates of 116 per cent and 16 per cent.

    Radio advertising, which shrank by 22 per cent in 2020, is forecast to grow by four per cent in 2021, while television fell eight per cent in 2020 and is forecast to grow one per cent in 2021. Print will continue its long decline, now in its fourteenth consecutive year, with an eight per cent drop in adspend in 2021. In 2023 adspend in all these media will still be below 2019 levels, though cinema and out-of-home will have made up almost all of their lost ground.

    Audiences continue to migrate online, and online video viewing is growing rapidly, even as traditional television ratings shrink again after a one-off spike when lockdowns began in 2020. Advertisers value online video as a means of maintaining reach while television declines, but it’s an effective form of brand communication in its own right. Demand is strong, although the popularity of subscription-funded video-on-demand has helped limit the supply of high-quality online video available to advertisers. Zenith predicts that online video advertising will be the fastest-growing digital channel in 2021, rising by 26 per cent to reach $63 billion.

    The coronavirus pandemic has accelerated the structural shift in the economy from bricks-and-mortar sales to ecommerce, driving more consumers than ever to research and complete purchases online. Brands have responded by forming partnerships with retailers and creating new direct-to-consumer operations, using performance-driven advertising – primarily in social media and paid search – to lead consumers down the path to purchase. Zenith forecasts that social media advertising will expand by 25 per cent this year to reach $137 billion, overtaking paid search in scale for the first time. Paid search will expand by 19 per cent to reach $135 billion.

    Much of this is new money to the ad market, coming from small businesses that have had to pivot rapidly to ecommerce to survive lockdowns, and from budgets that brands would previously have allocated to retailers to secure physical shelf-space, which they are now spending on display and search ads on retailer websites. The shift to ecommerce will slow down as coronavirus restrictions lift and economies open up again, but won’t go into reverse. Zenith expects ecommerce to continue to pull in incremental revenues to the ad market, driving 13 per cent growth in social media and 12 per cent growth in search in 2022.

    “The online video landscape continues to transform, fuelled by the growth of streaming services and connected TVs,” said Zenith global chief digital officer Benoit Cacheux. “Its continued evolution requires a radical rethink of how to build the optimal screen-neutral reach model. The ingestion of new data sources into TV planning also creates further opportunities to further sync TV and video planning.”

    All regions will enjoy robust ad spend growth in 2021, with Asia Pacific showing a nine per cent growth.

    The US will be by far the largest contributor to global growth in 2021, accounting for 46 per cent of the $67 billion added to the global ad market this year, followed by China with 11 per cent, and Japan and the UK with six per cent each.

    “After a very tough year last year, the ad market is enjoying rapid and broad-based recovery, and will end this year well above the level it achieved in 2019,” said Zenith head of forecasting Jonathan Barnard. “Digital advertising is becoming a more effective tool for brand growth as media and commerce continue to move online, attracting greater investment from large brands and small businesses alike.”

     

  • Madison Media acquires Kolkata-based agency Crow’s Nest

    Madison Media acquires Kolkata-based agency Crow’s Nest

    Mumbai: Madison Media has acquired Kolkata-based full service digital agency, Crow’s Nest.

    Crow’s Nest, a unit of Bengal Internet Marketing Pvt Ltd was founded 14 years ago by Samrat Mukherjee, who carries over two decades of experience in advertising. Under the arrangement, the agency will fully integrate with Madison Digital and operate as Madison Digital Kolkata with Mukherjee reporting to Madison Digital, chief executive officer Vishal Chinchankar.

    Mukherjee said, “With our creative strategy, media and digital content creation strength, paired with Madison’s core of media, data and analytics, we truly believe to deliver the most value to our clients. May new ambitions be laid. May new dreams be hatched. May this new association go miles as the Crow flies.”

    Madison World chairman, Sam Balsara said, “Many companies find Madison to be a good collaborative partner to grow their business independently with our support. A few more collaborations are on the cards in the area of Digital, PR and Creative.”

    Madison Media partner and group CEO Vikram Sakhuja said, “In keeping with our Digital growth acceleration we are thrilled to welcome Samrat and his vibrant Crow’s Nest team into the Madison fold. Not only will Crow’s Nest help grow our overall Digital practice in Kolkata Office, but it will also add considerable heft to Madison’s Social, Content and Creative agenda.”