Reliance-owned JioCinema, a leading over-the-top (OTT) platform, recently announced that it would be offering free access to watch IPL 2023 across all network providers. While this move may seem like a generous one, it is backed by several smart business strategies that could benefit both JioCinema and its customers. In this article, we will explore the various business strategies that JioCinema and Reliance are employing to make this move a success.
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| The Great Business Strategy: Free IPL on JioCinema |
Attracting and Retaining Customers
One of the primary business strategies behind JioCinema's move to offer free access to IPL 2023 is to attract new customers and retain existing ones. IPL is one of the most-watched sporting events in India, with millions of viewers tuning in to watch their favorite teams battle it out. By providing free access to IPL 2023, JioCinema can attract new customers who may have been hesitant to subscribe to their services before. Additionally, existing customers who are avid IPL fans will be more likely to stay loyal to JioCinema, which could increase the platform's customer retention rates.
Gaining a Competitive Advantage
The Indian OTT market is dominated by big players like Netflix, Amazon Prime Video, and Hotstar. By offering free access to IPL 2023, JioCinema could gain a competitive advantage over these players, as IPL is not available on any other OTT platform in India. This move could also help JioCinema differentiate itself from its competitors and establish itself as a unique and desirable OTT platform in the Indian market. JioCinema's focus on exclusive content could help the platform to gain a competitive edge over other streaming services.
Monetizing Through Advertising
JioCinema's decision to offer free access to IPL 2023 is not purely philanthropic. The platform could generate significant advertising revenue by displaying ads before, during, and after IPL matches. Advertisers are always looking for ways to reach a large audience, and IPL provides an excellent opportunity for them to do so. By leveraging its large viewer base during IPL, JioCinema could attract more advertising revenue, which could help the platform generate additional profits. As India's OTT market grows, JioCinema has recognized the importance of monetizing its platform through advertising, and the move to offer free IPL access could help the platform to achieve this goal.
The Role of Reliance
JioCinema is owned by Reliance, one of India's largest conglomerates. Reliance has been making significant investments in the telecom and digital services sectors, to become a dominant player in India's rapidly growing digital economy. By offering free access to IPL 2023, Reliance could leverage its massive reach and scale to gain an advantage in the Indian OTT market. Reliance's focus on providing affordable and accessible digital services has helped it to gain a significant foothold in the Indian market, and the move to offer free IPL access is in line with this strategy.
The Future of JioCinema
JioCinema's move to offer free access to IPL 2023 is just one part of a broader strategy to establish itself as a leading player in the Indian OTT market. As the Indian OTT market continues to grow and evolve, JioCinema is likely to continue to invest in exclusive content and innovative business strategies to attract and retain customers. The move to offer free IPL access could be just the beginning of JioCinema's ambitious plans for the future.
The End Notes
This decision is backed by several business strategies that we had discussed and that will help Jio to put some feet on the OTT world with JioCinema. It's just a start with the free streaming of IPL and JioCinema may disrupt the OTT industry as it has already done in the telecom industry.
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