With IPL finale hitting 3.2 crore live views, JioCinema is now a global name to reckon with
As MS Dhoni's Chennai Super Kings defeated Gujarat Titans in a nailbiting final to clinch their record fifth IPL title, JioCinema also broke the global record for the most concurrent views to a live streamed event.
With 3.2 crore concurrent views during IPL 2023 final, the Reliance-owned streaming platform broke its own record 2.57 crore concurrent viewers it had set during Qualifier 2 of the tournament on May 23.
Taking over Hotstar
When the platform reached 2.57 crore simultaneous viewers during Qualifier 1, it broke Disney's Hotstar's record of over 2.5 crore simultaneous viewers during an IPL match in 2019.
The record was unbroken for four years because Hotstar decided to make IPL live streaming paid. But as JioCinema is streaming the biggest cricket league in the world for free, it's viewership has touched new records.
JioCinema won the digital streaming rights for the Indian Premier League (IPL) for the 2023-2027 cycle. The company is paying a massive Rs 23,758 crore for the rights, which is more than double the amount Hotstar paid in the previous cycle.
How high IPL viewership helps JioCinema
Since IPL is the most watched sporting events in the world, JioCinema will gain a major boost in terms of user base. In the first five weeks of the IPL 2023, JioCinema clocked over 1,300 crore video views. This is a world record for digital sports viewing.
Even if they decide to keep IPL streaming free for this cycle, they will be able to generate a lot of revenue from advertising. In the first five weeks of the IPL 2023, JioCinema has attracted 25 sponsors. This is a 2X growth in terms of number of sponsors compared to the previous year.
JioCinema will also be able to use the IPL to promote its other content. It has a large library of movies and TV shows, and the IPL will give the company a major platform to promote its content to a wider audience and build a strong brand identity.
In the first week of the IPL 2023, JioCinema saw a 50% increase in the number of new users, in the second week it saw a 30% increase in the number of hours watched, and in the third week of the tournament, the OTT platform saw a 20% increase in the number of ad impressions.
Becoming an OTT giant?
Not just IPL and Indian content, JioCinema has been expanding exponentially in last few months and is eyeing to be a global OTT giant. HBO, Warner Bros and other content have moved to JioCinema days after leaving Hotstar.
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The move came as part of a deal between Reliance Industries and Warner Bros Discovery. This gave the platform a huge boost in terms of content as it got access to a wide range of content from including movies, TV shows, and documentaries. The HBO Originals and Warner Bros' movies are very popular in India and the deal caters to that audience and also improves its content library.
A month after this the deal, and days after introducing premium pricing for content on its platform, JioCinema signed a partnership with NBC Universal Media on Monday (May 29). The multi-year deal will give JioCinema's premium subscribers access to popular shows such as Downton Abbey, Suits and The Office.
JioCinema's Premium annual subscription plan for Rs 999 gives subscribers access to premium content on the platform, ad-free viewing, unlimited streaming across devices, and early releases of movies and shows.
JioCinema recently announced that it will create original content with Jio Studios. It announced over 100 plus movies, original web series and mini-series titles in Hindi, Marathi, Bengali, Gujarati, and other Indian languages.
A smart strategy
By giving free streaming services of IPL and FIFA World Cup on the platform JioCinema is getting millions of new users. And by giving ad-free experience and premium global content, they are also attracting new and younger audience.
It is offering free content through advertising-based video-on-demand (AVOD) for its live streaming content, and a paid subscription for premium content that has HBO shows like Succession, The Last of Us, Game of Thrones and The Sopranos.
Experts say this is a smart move as on the one hand, pure-play AVOD isn't sustainable for OTT players. On the other, there are premium subscribers who want an ad-free experience and are willing to pay for it, reported Business Today.