JioCinema has signed record number of advertisers including 23 sponsors for the ongoing season of IPL, said company officials adding that this is highest-ever number of advertisers in the history of the tournament.
Among the JioCinema-exclusive advertisers, the large advertisers who switched their preference from TV to digital are Amazon, Samsung, UB, Indeed, TVS, Castrol, Noise, Puma and ABFRL.
These advertisers were prominent on TV last year.
The company official added that JioCinema has onboarded two more sponsors – Jindal Panther TMT Rebar and Indeed – taking the total number of sponsors to 23.
Before the IPL 2023 season started, JioCinema announced that it had onboarded 21 sponsors for the tournament.
The digital media rights holder of IPL signed on Dream 11 as the co-presenting sponsor. Three “co-powered by” sponsors are JioMart, PhonePe, Tiago EV and 17 associate sponsors include Appy Fizz, ET Money, Castrol, TVS, Oreo, Bingo, Sting, AJIO, Haier, RuPay, Louis Philippe Jeans, Amazon, Rapido, Ultra Tech Cement, Puma, Kamla Pasand and Kingfisher Power Soda.
“The consistency with which we are delivering these numbers is evidence of the paradigm shift in sports viewing in India. Our sponsors and advertisers are rest assured of delivery and return on investment on JioCinema as through digital, they have the security that they are paying only for the actual impressions delivered unlike the legacy services,” said Viacom18 – Sports CEO Anil Jayaraj. “Besides advertising on JioCinema offers brands greater precision, cost-effectiveness, and flexibility than TV advertising which is why we are convinced that we will have more and more advertisers shifting their focus and budgets towards digital.”
The lower entry barrier on digital and the near absence of new-age brands are among the reasons brands have migrated from TV, resulting in a 40% drop in the number of advertisers on television for the opening match played on March 31.