Anil Jayaraj, CEO of Sports at Viacom18 Media, addressed concerns and outlined strategies for the growth of sports in a digital era during a recent summit in Mumbai.
Highlighting the rapid evolution of digital advertising, Jayaraj expressed apprehensions regarding sports growth under subscription-based models. He stressed the potential of digital platforms to revolutionize sports consumption and underscored strategies aimed at enhancing accessibility and engagement.
During a session, Jayaraj emphasized the versatility of digital advertising, noting its ability to target specific demographics based on psychographics, preferences, and intent. He highlighted the capability to tailor content to niche audiences, such as fans of specific sports franchises like CSK or RCB, thereby enhancing user engagement.
Speaking about CTVs, Jayaraj emphasized that their connected TV platform has undergone a comprehensive overhaul this year, promising a doubled scale compared to the previous year. He also underscored the significance of 4K technology in this revamped experience.
Mentioning industry giants like Samsung and LG, who are actively contributing to the expansion of the connected TV ecosystem through the sale of CTVs, Jayaraj highlighted the addressable and targetable nature of CTV, signifying its importance in the evolving media landscape.
Furthermore, Jayaraj identified untapped opportunities in media-dark areas, where traditional media access is limited. He cited initiatives like the Jio Bharat phones, priced below Rs. 1,000, as means to extend digital reach to these underserved demographics, presenting a new frontier for advertisers.
In discussing the current state of sports consumption in India, Jayaraj acknowledged the country’s passionate sporting culture but noted its comparatively lower consumption rates compared to other nations. He emphasized the role of digital platforms in bridging this gap, citing their potential to cater to audiences beyond traditional linear TV viewership.
Regarding the Indian Premier League (IPL), Jayaraj outlined plans to enhance digital offerings, including the introduction of new languages to cater to diverse audiences. He also emphasized the importance of delivering effective advertising solutions, aiming to attract a larger pool of advertisers.
The company is examining cohort deliveries, aiming to introduce a few additional languages to cater to the preferences of the Indian audience. Despite the size of the cohort, they are committed to delivering content tailored to their interests.
Furthermore, their focus is on providing comprehensive solutions to advertisers, with aspirations to significantly increase their clientele from the previous year’s count of over 800 to an ambitious target of 4000 advertisers in the current year.
Expressing reservations about subscription-based models for sports, Jayaraj argued that such models could hinder the growth of the industry by limiting accessibility. He highlighted the success of digital advertising in driving growth, particularly through performance marketing strategies.
In conclusion, Jayaraj reiterated Viacom18’s commitment to leveraging digital platforms to foster the growth of sports in India. He emphasized the importance of accessibility, availability, and affordability in expanding sports consumption, reaffirming the company’s dedication to delivering targeted solutions to advertisers.
The remarks by Anil Jayaraj underscored the growing significance of digital strategies in shaping the future of sports consumption and advertising in India.
(This session was part of IAMAI’s India Digital Summit 2024)