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Branded Content & IP
KPMG’s 2017 FICCI report showed that the live events industry experienced a 20-25% growth in 2016. The year also saw a 98% growth in the event IP space. Brands are spending about 25-30% of their advertising budgets on sponsoring and creating live events. The estimated revenue the industry can generate ranges between Rs 55,000-65,000 million. In addition to this, the millennial market, that most brands are targeting, has stopped trusting traditional advertising. Studies show that only 6% millennials trust traditional advertising, whereas over 60% look out for a positive experience and over 70% choose activities that give them social media bragging rights.
With the current market condition, the Branded IPs and Content division is a logical progression for EC, as brands and creators are looking for new mediums to tell their stories. The space has grown significantly over the past couple of years, and we have witnessed a lot of established brands going beyond traditional advertising and event sponsorships to establish their own IPs.