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Entrepreneurs Bowled Over By Opportunities as Cricket Fever Sweeps India

VCCircleVCCircle · 1y ago
Entrepreneurs Bowled Over By Opportunities as Cricket Fever Sweeps India
Medial

The Indian Premier League (IPL) is not just a successful startup in itself, but also a source of opportunities for other startups. This year, over 30 startups are participating in the IPL, with 14 direct-to-consumer (D2C) startups associated with Mumbai Indians and Royal Challengers Bangalore. Despite fintech startups reducing their involvement, the IPL's massive viewership count of 505 million is too enticing to ignore. Startups also benefit from the Startup Power Play initiative by IPL broadcaster Star Sports, offering one startup per match day the opportunity to showcase a TV commercial. Cricketers like Sachin Tendulkar, Virat Kohli, and MS Dhoni are also investing in startup brands, particularly in the D2C, gaming, and fintech sectors. Sports tech and entertainment apps that analyze post-match content are also gaining traction. Overall, the IPL continues to provide opportunities for startups across various sectors.

Reliance-Disney India media merger to control 85% of streaming, half of TV audience

TechCrunchTechCrunch · 1y ago
Reliance-Disney India media merger to control 85% of streaming, half of TV audience
Medial

The merger of the Indian media assets of Reliance, Viacom18, and Disney is set to create a dominant force in the country's streaming and TV market. The combined entity will capture 85% of the on-demand streaming service audience and about half of the TV viewership, posing significant challenges to competitors like Netflix, Amazon Prime Video, and Apple. The merger will also secure exclusive digital and broadcast rights to major sporting events, including the next four years of the Indian Premier League (IPL) cricket tournament, FIFA World Cup, and Premier League matches. With access to Disney's vast catalog of content and partnerships with other major studios, the merged unit is expected to be the market leader in India's OTT sector.

Streaming was supposed to rescue the ailing TV ad business. It hasn’t.

LivemintLivemint · 1y ago
Streaming was supposed to rescue the ailing TV ad business. It hasn’t.
Medial

Brands such as Mondelez and Hershey are decreasing their TV advertising budgets as they find that traditional television no longer reaches their target audiences effectively. These companies are redirecting their ad spending to social media sites like TikTok and Instagram, as well as advertising on the websites of large retailers like Amazon and Walmart. While many had hoped that ad-supported streaming TV would fill the gap left by traditional TV, this has not been the case. Brands are now focusing on building reach across multiple platforms and shifting their ad budgets to digital channels. Live sports remain popular for TV advertising, with 96 of the 100 most-watched broadcasts last year being live sports events. However, as more sports content is watched on streaming platforms, traditional TV conglomerates are preparing to launch dedicated sports streaming platforms. The streaming landscape remains fragmented, and streaming audiences are less tolerant of ads compared to traditional television. High ad prices and varying viewership measurement and ad performance also complicate matters for marketers. Retail media, including platforms like Amazon and Walmart, are benefiting from the shift away from traditional TV, as they offer access to valuable customer data and the ability to measure ad effectiveness. Ad spending in the retail media sector is expected to surpass traditional TV ad spending next year. Microsoft has reduced its traditional TV advertising in favor of digital ads, which offer better measurement. The decline in TV ad spending is happening faster due to significant discounts offered to longstanding advertisers, but if these discounts were removed, brands like Mondelez would likely stop buying TV commercials altogether.

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