The Counting Day for the 2024 Lok Sabha election brought significant revenue boosts for news channels, as per industry leaders. Since the beginning of general elections, news channels went all out to capitalise on the anticipation and excitement leading up to counting day on June 4.
General elections have historically triggered a surge for news channels, resembling a bustling marketplace where advertisers eagerly invest to seize the heightened viewer engagement. This counting day had a unique grip on everyone’s attention, as viewers remained captivated, eagerly awaiting the unfolding narrative. Despite initial exit poll predictions, the final result diverged significantly, adding an unexpected twist to the unfolding events.
Following the conclusion of the Lok Sabha elections, the Election Commission of India officially announced the outcomes for 542 out of the 543 Lok Sabha constituencies. The Bharatiya Janata Party (BJP) emerged victorious in 240 seats, while the Indian National Congress (INC) secured 99 seats. Additionally, the INDIA bloc surpassed the 230-seat threshold, presenting formidable competition and confounding expectations set by exit polls.
Even in the coming days, viewers and advertisers will show significant interest as the government formation unfolds. This includes the oath-taking ceremony, the appointment of ministers, and the distribution of portfolios.
In conversation with Marketing Mind, Vanita Keswani, CEO, Madison Media Sigma, emphasised that there has been significantly higher demand for Hindi news channels throughout the election period including the counting day.
Explaining the boost India TV experienced on counting day, Sudipto Chowdhuri, Chief Revenue Officer/Executive President – Sales at India TV highlighted, “We did fairly well, with approximately double digit percentage growth and slightly more than what we had committed to our management.”
Mona Jain, Chief Revenue Officer, Zee Media Corporation, said, “We had a great response and had a combination of existing and new advertisers coming to advertise on the day. Obviously, there was an upstairs and met with the projections and expectations we had.”
Comparing the revenue of the counting day to a typical day, Chowdhuri stated that the revenue increases by approximately 5 to 7 times and can sometimes be slightly higher.
Meanwhile, Jain stated, “It was a multiplier of many digits (on the counting day).”
While explaining the average premium, over the standard ad rates, on the counting day, Chowdhuri said, “It varied. People who booked earlier during February/ March 2024, had paid lesser premiums, and people who booked around the end of April/May or in the beginning of June, paid more.”
He pointed out that the channel didn’t charge too high because they had started the election programming by November 2023 itself. “However, premiums on rates were skewed towards polling day, counting day, government formation day etc, due to high viewership and high time spent . They were logical premiums, nothing exorbitant,” he added.
On the other hand, Jain again highlighted that it was a multiplier of many digits.
Keswani explained that the premium for counting day is upwards of 15x the regular spot rate – it is interesting that only 30-40% of counting day revenue is through spots.
Furthermore, Chowdhuri stated that for India TV, approximately 25% of the total revenue came specifically from exit polls and counting day coverage.
On the other hand, Jain highlighted that most of the seasonal brands like durables, automobiles, health, education, beverages, spices etc were all present on the channel during the election period.
Meanwhile, Keswani noted that top categories such as cement, paint, auto, and ancillary consumer durables are consistently among the leading advertisers on news channels.
In conclusion, Chowdhuri mentioned, “We are a strong, stable, and delivering channel, which is why every category has advertised with us. The continued interest in the top few news channels, even after the IPL and the start of the T20 World Cup, is a positive trend.”
