We have seen that the lockdown during the pandemic time in 2020 has dropped revenues and ad volumes TV and the advertisement agencies are observing a powerful growth in the unlock period. brands and advertisers’ investments in television were dampened due to the 2nd wave of Covid-19.
And thus, all major categories – FMCG, Consumer Durables, Auto, OTC products, Personal care & Hygiene, and more – have increased their spending on TV. Since the vaccination has already started and almost everyone is getting vaccines and as the number of COVID-19 cases also getting stabilized, the nation is on a mission to recover from the crisis and faster resumption of all the economic activities.
Regardless of the fear of the third wave of COVID-19 marketers and operators are optimistic about a heavy festive season this year. What about back-to-back cricket bonuses in the form of the second leg of Indian Premier League (IPL) 2021 and the ICC T20 World Cup, which will be happening immediately after it.
Senior VP of iProspect India, Kaushik Chakraborty, commented on the expected comeback of TV ad spends this festive season and said, “In spite of the Third Wave of COVID-19 pandemic which is expected to come, this festive season is anticipated to be not so bad.
This expectation can be allocated due to the vaccination drive, which has already delivered 56.2 crore doses and has made people able to get out of their houses, do their work, and enjoy during the festivals. Unlike production and manufacturing, there is rebounding that has sectors like FMCG, Auto, Telecom, etc., and making a comeback.
Not only the two major cricketing events but also with a profusion of reality shows like ‘Bigg Boss’, KBC, IGT, KBC and so on, are on the line. Advertisers are forced to look for venues to promote their products as the upcoming months are what exactly the market has been waiting for.”
The strict COVID-19 protocols forbade the shooting of films, web series, TV serials, and ads, and thus fresh content is dying. People have started to consume more and more content on OTTs, therefore leading to a huge increase in the subscription and viewership on a basis of this medium.
This has been a huge fight for the TV broadcasters during the lockdown, as the leading General Entertainment channels had to resort to airing old classic shows since fresh content was unavailable.