Seizing the moment

From FMCG firms to retail and hospitality companies, India Inc. has its eyes on the one market that has been making headlines for the past several months – Ayodhya. With the high profile Ram Mandir inauguration slated for next week, brands such as Dabur, ITC and Adani Wilmar have rolled out high-decibel marketing initiatives in Uttar Pradesh’s holy city. As per government sources, Ayodhya’s tourist footfalls are expected to triple by 2030 to reach 6.8 crore from 2.03 in 2023, thus explaining corporate India’s interest in the region.

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Gupshup’s Vartika Verma on the company’s transition to a Conversation Cloud Platform

Generative AI stirred much conversation with discussions on the potential threat of replacing humans. While it’s undeniable that technology cannot fully replace the capabilities of humans, it does play a role in automating repetitive and monotonous tasks. In terms of brand interactions, conversations often revolve around customer support. Although the humane touch remains irreplaceable, the innovative use of chatbots to address and understand customer queries represents a novel approach to how brands connect with their audience.?

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Outdoor rates have shot up three times for premium hoarding sites in the city

Advertisers, particularly across the FMCG sector, are scrambling to leverage outdoor and BTL advertising ahead of the highly anticipated Ram Mandir inauguration in Ayodhya on Monday. While typically, high profile events like these draw brands to TV channels, industry experts note that outdoor and consumer activations are the preferred routes for advertisers this week in Ayodhya.?

Anticipating an increase in visitors, outdoor media sites are commanding a premium in and around the temple town of Uttar Pradesh. According to Amarjeet Singh Hudda, COO of Laqshya Media, OOH media prices have increased 3x to 4x due to increased advertiser interest and competition for premium outdoor hoarding sites. “Currently, there is a significant spike in the market, with an anticipated increase of more than 20 times in ad spending in the short run. This surge is expected to settle in the coming couple of months,” explains Hudda, noting that the demand is both from small local players as well as from national brands.

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The regional Lala Land! From cinemas to TV, OTT, regional content catches the imagination of viewers

India is a land of many languages and many more dialects. It is said that every 15-20 kilometres, the language changes in terms of communicative styles. While traditionally Hindi content has been popular, South Indian cinema has gradually established itself as a major competitor of Bollywood. However, South Indian cinema’s shot to prominence and Bollywood’s dominance have pushed other regional entertainment outlets on the back burner. “Language content (excluding Hindi and south content) is important for the growth of entertainment in India. Already, language films comprise around a quarter of all films released in India and are approaching that number on television and OTT. Consumption of language music, too, is growing faster than larger genres. We expect this trend to continue, and this will enrich audiences with India’s diverse culture,” Ashish Pherwani, leader-media and entertainment, EY,

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Dream11’s revenue surges 66% in FY23, profit up 32%

Dream Sports, the parent company of Dream11, on Friday reported a 66.21% growth in its FY23 revenue to Rs 6,384 crore. It had posted a revenue of Rs 3,841 crore in FY22. The company’s profit grew 32.4% to Rs 188 crore in FY23 from Rs 142 crore in FY22, consolidated financial statements sourced from the Registrar of Companies (RoC) showed.

The company’s overall expenditure increased by 55.21% to Rs 5,839 crore in FY23 from Rs 3,762 crore in FY22. Advertisement and promotional expenses accounted for 51% of its total burn. This expenditure increased by 37.3% to Rs 2,964, crore in FY23 from Rs 2,158 crore in FY22.

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BrandWagon AdTalk with UNIVO Education’s Abhishek Ajmera

The pandemic has brought about notable shifts across industries, and the case has been no different for marketing. Today, digital marketing has become a crucial aspect in order to acquire new customers and retain existing ones. In our weekly BrandWagon Ad Talk series, industry experts highlight what has changed over the past two years and more importantly, are these changes here to stay. Abhishek Ajmera, chief business officer, UNIVO Education, talks to BrandWagon Online, about the dos and don’ts of digital marketing, best marketing campaigns, and more.

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Tatas retain IPL title rights for record Rs 2,500 crore

The Tata Group has retained the title rights of the Indian Premier League (IPL), matching the competitive offer of Rs 500 crore per year made by the Aditya Birla group last week. In a statement on Saturday, the Board of Control for Cricket in India (BCCI) said the Tata group had extended its sponsorship for another five years, starting 2024, for Rs 2,500 crore. This made it the “highest-ever sponsorship amount in the league’s history”, ahead of Vivo’s five-year sponsorship commitment of Rs 2,199 crore in 2018 (Rs 440 crore per year).

The BCCI had set a base price of Rs 1,750 crore for 74 matches over five years for the IPL title rights, which works out to Rs 350 crore per year. This implies that the Tata group is paying nearly 43% more than the base price set by the board.?

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Ad volumes on television grew by 22% during 2023 compared to 2019, reveals TAM report

Ad volumes on television grew by 22% during 2023 compared to 2019. The second quarter of 2023 saw a five percent growth compared to the first quarter, while the fourth quarter increased by two percent compared to the third quarter. The average ad volume per channel for? 2023 witnessed a four percent decline compared to 2022. Additionally, May 2023 had the highest share of ad volumes of nine percent for television advertising.

Food and Beverages sector topped with a 22% share of ad volumes followed by Personal Care/Personal Hygiene Sector with an 18% share. Banking/Finance/Investment was the only new entrant during 2023 over 2022 with a two percent share of ad volume. The top 10 sectors collectively added 88% share of ad volumes during 2023.

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Former Zomato co-founder Gaurav Gupta launches startup

Gaurav Gupta, former co-founder, Zomato has launched his startup-Gabit. The healthtech startup focuses on the belief of interconnected living while offering personalised meal plans, fitness wearables, fitness plans, skincare products and heathcare products, all under one umbrella.

The startup raised a seed funding of $9.5 million last year from Northwest Venture Partners and angel investors including Amazon’s Amit Agarwal, Zomato’s Deepinder Goyal, Cars24’s Vikram Chopra and Kunal Shah-led QED Innovation Labs.

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Soumya Vilekar announces her exit from Planet Marathi OTT after 7 years of association

Soumya Vilekar, the co-founder of the Marathi OTT app – Planet Marathi has parted ways and announced her exit from the organisation. Soumya has been associated with the brand since 2017 and played a role in the forming and execution of the entire app right from its inception to the stage it has reached at present.

Planet Marathi as a brand was established in 2017 with a vision of creating a niche of Marathi films, arts and culture across the world map. The company forayed from film production after producing Marathi films like AB Aani CD, Goshta EKa Paithanichi, and Chandramukhi to the streaming app business during the pandemic.

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