MAM
Indian Insurance sector ad spend around Rs 1.8b in 2002
MUMBAI: It is finally out – the insurance sector spent around Rs 1.8 billion on advertising in the previous year.
The Indian ad fraternity is slightly disappointed as everyone had considered the sector to be the next sunrise industry which would expand the declining ad pie. Optimists made grossly inflated claims about the ad spend of private insurance companies. But, conservatism has been the name of the game for all the existing and new players who launched their services – LIC, ICICI Prudential Life, Birla Sun Life, Bajaj Allianz, ING Vysya, SBI Life, HDFC Standard Life, Tata AIG amongst others.
Media analyst and former Carat Media Services India CEO Meenakshi Madhvani says: “Insurance, which was heralded as the ‘sun rise’ sector didn’t really live upto expectations. People were talking of spends in the region of Rs 5 billion. Even at that time, I predicted that it would be in the region of Rs 2 billion and current statistics indicate that the figure is slightly less than the Rs 2 billion mark.”
Star India senior VP – ad sales Monica Tata claims that the Insurance sector is yet to bloom fully. She says that the ad spends of insurance companies have been curtailed due to the fact that all the private insurers have been very rigid in terms of adhering to the Irda (Insurance Regulatory and Development Authority) guidelines in terms of creatives and foreign exchange norms. In the case of several satellite channels, another issue is related to the fact that payments have to be made in dollars.
However, the fact of the matter is that the biggest domestic player LIC (Life Insurance Corporation of India) upped its ad spend to tackle competition and succeeded in forging way ahead. “LIC has advertised in satellite channels as well as terrestrial channels. LIC has to reach out to non-resident India policy holders as well as its other corporate customers who are based abroad. However, the key is to work within the parameters clearly defined by the Irda,” says Media Direction senior vice president PRP Nair who has played a significant role developing communication and choosing the right media vehicles for LIC.
Abhishek Bhatia of ICICI Prudential Life Insurance (which has sold 300,000 policies and crossed the Rs 5 billion premium mark) says: “ICICI Prudential has advertised on several channels from the Star TV bouquet, Zee Network and Sony. We have spent about Rs 50 million on TV advertising last year. There are no Irda restrictions on insurance companies advertising on satellite channels. The ads must be approved by our compliance function; and be in line with Irda regulations.”
A Birla Sun Life Insurance spokesperson also says that Irda norms have affected spends to a certain extent. “Compliance is the key. Despite this, we have focused on establishing the umbrella brand through the medium of TV, print and below-the-line activities,” adds the spokesperson.
What is interesting is the fact that insurance companies have realised that TV can give them tremendous mileage. “With the geographical expansion, TV became a viable medium and the corporate campaign for ICICI Pru Life was run on TV, because the medium lends itself well to an emotional type of films that strike a chord with the audience. Product advertising, which needs to impart information, was largely done through print and outdoor channels, as these are appropriate for rational type of messages,” says ICICI Pru Life’s Bhatia.
The advertising idea which was encapsulated in symbols of protection from the initial print campaign, culminated in the corporate film where sindhoor was used as an endearing and lasting symbol of protection,” adds Bhatia.
An earlier press release from ICICI Prudential Life Insurance states that the campaign contributed extensively to raising brand awareness of the company and was short-listed as one of the 12 most effective campaigns for the year 2001 in the EFFIE awards. According to an ORG MARG study, the ICICI Prudential brand name and advertising had the highest recall amongst all private players, and was only marginally behind LIC.
“When ICICI Prudential Life Insurance first began operations, the task was to present the visiting card of the company to the public at large and build credibility and stature and to give the consumer the confidence that ‘here was a company that could be trusted to invest funds with’. This required a corporate campaign, which started with advertising to establish the brand, build awareness and give the brand a larger than life image. Lowe (Lintas) has been the creative advertising agency for ICICI Prudential Life since the beginning and we have stuck to the strategy,” says a Lowe spokesperson.
It looks as if the ad spend will definitely rise but not phenomenally. Most of the new players have finished the introduction phase; and are now making a bid to eat into the share of LIC as well as expand the market with new products. Experts say that the spend will increase when pension products, group insurance products and health insurance products are launched. Also, the non-life players haven’t really made a big hue and cry as yet.
Madhvani says: “LIC reacted brilliantly and put its act together quickly. The market actually expanded and the increased “noise” created by the private players benefited LIC. One must remember that ad spends decrease in the case of a market expansion scenario and increase when one has to grab the share of other competitors.”
Interesting battle seems to be on the cards but it is difficult to say whether the ad industry benefit in terms of increased spends. Lets wait and watch.
MAM
Lessons from global media markets on building enduring content franchises
Rose Audio Visuals COO and CFO Mitesh Patel.
MUMBAI: The global media landscape has undergone a fundamental shift. Success today is no longer defined by a single hit show. It is defined by the ability to build intellectual property (IP) that travels, evolves, and compounds over time.
At Rose Audio Visuals, this shift is central to how we think about content pitching and creation. We are no longer in the business of just making shows. We are in the business of building IP ecosystems.
From Hits to Franchises
Globally, the most successful content is designed to extend beyond its first outing. It travels across: Seasons, Platforms (TV → OTT → Digital), Formats (series → spin-offs) Shows like Stranger Things and Money Heist are not just successful series they are multi-layered franchises with global recall, fan engagement, and long-term monetisation. The key learning is simple: If content cannot scale beyond one season or one platform, it remains a project not a franchise.
Local Stories, Global Impact
One of the most powerful global trends is the rise of culturally rooted storytelling. Platforms today reward local authenticity combined with universal emotion. Stories that are deeply regional are no longer limited by geography they are amplified by it. Consider the global impact of Squid Game or India’s own Sacred Games. The takeaway is clear: The more authentic the story, the greater its potential to travel if the emotion resonates universally.
Monetisation Begins After the First Window
A critical global learning is that the true value of content is not realised at launch, it is realised over time.
Strong franchises unlock multiple revenue streams: Licensing, International remakes, Brand integrations, Digital extensions , Events and immersive experiences
Global players like The Walt Disney Company have mastered this approach, turning content into long-term ecosystems that extend far beyond the screen.
The first window is just the beginning. The real value lies in what follows.
At Rose Audio Visuals, we increasingly evaluate projects not just on commissioning value, but on their long-term franchise potential.
The Rise of Creator-Led Franchises
An important global shift is the emergence of creator-led IP ecosystems.
Creators today are not just content producers they are building full-scale franchises across platforms, formats, and businesses.
A powerful example is MrBeast. What started as YouTube videos has evolved into: Multiple content formats, Global audience scale , Brand extensions and businesses, High-impact experiential content This is a fundamentally different model digital-first, audience-owned, and infinitely scalable.
This model is still in its early stages in Indian but it represents a massive opportunity.
The next wave of Indian content franchises may not come from traditional studios alone but from creators who think like media companies.
Balancing Data with Creative Instinct
Streaming platforms today are deeply data-driven. Data helps Identify emerging genres, Predict audience behaviour , Inform commissioning decisions However, global experience shows that data alone does not create hits. Data informs scale, but storytelling creates impact.
Talent is the Foundation of Franchises
Enduring franchises are rarely accidental they are built through long-term creative partnerships. Globally, there is a clear focus on nurturing Actors, Writter, Show runner and director. Franchises are not built on scripts alone they are built on creators. This is an area where we continue to invest deeply building long-term relationships with talent rather than project-based collaborations.
Multi-Platform Thinking from Day One
Content consumption today is inherently multi-platform. A successful show must be designed not just for its primary platform, but for: Short-form extensions, Social media amplification, Digital-first engagement. Every show today needs a second life beyond its original format.
India: A Market at an Inflection Point
India today stands at a unique moment in its content journey.
We are seeing significant opportunity in Regional markets (Telugu, Tamil, Marathi and others) Emerging formats such as micro-dramas, Scalable, franchise-driven fiction IP
India does not lack stories. What we have historically lacked is structured franchise thinking something that is now beginning to evolve.
The Way Forward
The biggest lesson from global markets is this: The future belongs to companies that do not chase hits, but systematically build franchises. Because while hits may deliver immediate success, franchises create long-term value, recall, and compounding growth.
At Rose Audio Visuals, this belief shapes how we develop, greenlight, and scale content across platforms.
For content companies today, the question is no longer “Will this show work?” It is: “Can this become a franchise?”
A Personal Note
Having worked across content, business, and strategy, one thing has become increasingly clear to me, the most valuable companies in our industry will not be those that create the most content, but those that create content that endures.
Building a franchise requires patience, conviction, and a long-term lens something that the industry is only now beginning to fully embrace.As we continue this journey at Rose Audio Visuals, our focus remains simple: to move from volume-driven creation to value-driven storytelling. Because in the end, stories may start conversations but franchises build legacies.
