Reliance’s Streaming Platform Sees Unprecedented Surge in IPL Viewership, Setting New Benchmarks
More than 11.3 Cr viewers flocked to Reliance-backed streaming platform JioCinema on the inaugural day of the Indian Premier League (IPL) 2024, marking a remarkable 51% surge compared to the previous year’s opening day.
The OTT streaming giant announced that it garnered a staggering 59 Cr views on the tournament’s first day alone, amassing an impressive 660 Cr minutes of watch time, according to a statement released by the company.
Commenting on the overwhelming response, a spokesperson from Viacom18 remarked, “India’s transformation into a digital-first sports-consuming nation is now complete, and the record-breaking viewership on the opening day of IPL 2024 unequivocally affirms this trend. We anticipate witnessing unprecedented benchmarks and records being set throughout this season.”
In addition to the remarkable viewership figures, JioCinema reported the debut of ad campaigns from 12 brands, including industry stalwarts like Dream11, within the first six overs of the tournament’s inaugural match. With a total of 18 sponsors and over 250 advertisers, the IPL 2024 broadcast on JioCinema promises to be a lucrative platform for brands seeking to engage with a massive audience.
The IPL has long been a magnet for advertisers seeking to capitalize on the immense popularity of cricket in India, attracting eyeballs not only domestically but also globally. This year, the league has witnessed an unprecedented surge in participation from startups, with nearly 32 new ventures joining the ranks, marking a significant 68% increase from the previous season.
While established players continue to dominate the advertising landscape, startups like CRED, Upstox, and Rapido have seized the opportunity to align themselves with the cricket extravaganza as associate sponsors on JioCinema. Moreover, tech companies have also jumped on board, sponsoring teams and prominently displaying their logos on players’ jerseys.
Meanwhile, Dream11, co-presenting the IPL on Star Sports, reported a massive influx of traffic on its platform during the opening match, boasting 1.1 Mn new user registrations and a staggering 15.01 Mn concurrent users.
For JioCinema, the IPL presents a golden opportunity to capitalize on the momentum. Following its $8.5 Bn merger with Disney+ Hotstar, the Reliance-owned platform has aggressively expanded its streaming rights portfolio, securing lucrative deals with leading sports tournaments. Bolstered by substantial investments and strategic partnerships, JioCinema aims to solidify its position in the fiercely competitive OTT streaming market.
At the core of this burgeoning growth trajectory lies the Indian OTT streaming space, poised to burgeon into a $5.8 Bn market by 2029, signaling a seismic shift towards digital-first entertainment consumption in the country.
