Mumbai: Jio Ads has the potential to emerge as one of the top ad platforms in the country. Jio could accelerate social commerce and brands could look at potential partnerships. Jio could create interesting consumer engagements for IPL live streaming, which brands could leverage as sponsors.
CTV will become an important element in integrated video planning and needs to be considered for all TV plans for brands which target the NCCS AB audiences. Brands would need to make creatives for the CTV ecosystem with far more personalisation and interactivity, unlike linear TV.
Currently, the audience who consume CTV is an affluent audience, metro skewed, with more premium lifestyle preferences. The programming consumed is remarkably comparable to Linear TV consumers, with a high skew toward Romance, Comedy, Action, and Live Sports. CTV becomes a very important touch-point to reach to the difficult-to-reach, media-cluttered affluent audience.
Wavemaker India has launched Spotlight 23. This is a report that puts the spotlight on the top 23 strategic focus areas in digital and emerging technology for the year 2023. These focus areas include big tech, e-commerce, AI, cloud computing, Web3, digital payments, and some potential disruptive technologies which may impact the industry and business, at large.
Among several other observations, the report notes that Meta is diversifying with a focus on Reels, WhatsApp business, Marketplace and the Metaverse. WhatsApp could become critical for brands, which want to engage consumers through lead gen, content, contest. It will be easier for brands to create partnerships with creators or launch NFTs. While Meta is invested into metaverse as we know it, 2023 might be the year, when Meta would add extra layers in shaping their version of metaverse.
It also said that Apple is an ad company. It now plans to increase revenue from digital advertising. Brands which use Apple ads for app downloads could potentially have scale with the increase in advertising opportunities.
To create impactful communication on Apple Ad platforms, a better understanding of Apple consumers will be important. While Google, Facebook have established credentials in delivering ROI, Apple Ads needs to demonstrate similar capabilities in driving ROI for increasing revenue from ads
Meanwhile, Google Search is facing some regulatory challenges that are likely to intensify. If enacted, the American Innovation and Choice Online Act would restrict tech firms from using their platforms to promote their own services. In the short run, Monthly Active Users (MAU) and Daily Active Users for key Google products –Google Search, YouTube, etc could get impacted. Local business discoverability could get hampered as they are dependent on Google Business Profiles, which might not get preference under the new law.
Netflix is focusing on ads, no password sharing policy and games to increase revenue and consumer engagement. Netflix ads have premium pricing due to their audience’s affluence. With very limited targeting, high pricing and ad policies may reduce the potential number of advertisers. Moreover, Netflix has the potential to completely shake up the gaming industry’s monetisation model. That said, current AAA PC games see tough monetisation challenges, and Netflix will need to use its successes from film and web series IPs to see what works for their original gaming titles.
In this inaugural edition, the report shares concise points of view and observations for the coming year backed by intense knowledge and years of experience in the digital arena. Spotlight 23 is curated by the team of digital experts at Wavemaker India.
In the global digital media environment, established retail media networks continue to rise in prominence, capturing a larger and larger proportion of advertising expenditures. The report said that we can anticipate even more ad expenditures being sent here in 2023, when worldwide yearly revenue is projected to reach $101 billion, up 15 per cent from this year as per GroupM TYNY. In the current economic context, where every dollar spent on media is scrutinised, 'closed-loop' attribution is important for connecting ad exposure to a purchase.
Closed-loop attribution will continue to drive ad spending in retail media, and solutions such as Amazon attribution (beta) will also help non-retail media. Meta and Google are likely to continue partnering with additional online retailers. The report anticipates more non-endemic brands experimenting with retail media solutions.
