This budget will solidify CNBC's presence on CTV: Network18's Smriti Mehra

With Finance Minister Nirmala Sitharaman presenting the Budget 2024 in the Parliament on July 23, business news channels are looking forward to a bonanza. The budget impacts every citizen of the country and thus all eyes remain glued to the television as the Finance Minister gives her speech. With this Budget being closer to the festive season and amidst a good monsoon, it is expected to create more advertiser interest. Smriti Mehra, CEO - Business and English News, Network18, says the network is expecting at least 50-60% more advertising revenues during this budget presentation as compared to the February budget. 

“Also, the February budget was an interim budget. This is the first budget after the new government has been formed post-elections. There's a lot of anticipation for this budget, with great expectations for the announcements. People are eager to hear what the Finance Minister has to say, and brands want to be part of this excitement and consumer interest,” she says. 

Mehra says that with the economy growing, there is significant optimism in the markets. Retail investors are showing great confidence in how companies are performing, reflected in rising investments in the markets and mutual funds. So, this is an ideal time for advertisers to be associated with the budget.

“Business news and the business environment are no longer niche; they impact all of us, whether as investors or employees. This widespread consumer interest makes it an excellent space for advertisers. Being associated with budget content and coverage offers tremendous opportunities due to the huge audience interest in all things related to the markets and the economy,” she says.

The confidence in the economy and the excitement around the Indian market has drawn a diverse range of categories to engage with the budget coverage. This time, it is seeing significant interest from infrastructure and cement companies. In addition, the auto and financial services sectors remain substantial spenders during the budget announcement. It is also noticing many new clients, including digital-first businesses, showing interest.

At CNBC Awaaz, the network’s Hindi business news channel, on the day of the budget, it will feature a budget jury, budget editors, a technical panchayat, and its editors will provide their insights. Leading up to the budget, it will offer daily content that includes policy exclusives, analysis, and wishlists. 

It will also have a panel that provides stock ideas based on each announcement. While the Finance Minister speaks, these stock ideas will be flashed on the top band, indicating the impact on specific sectors. 

Anuj Singhal, managing editor, CNBC-Awaaz and CNBC Bajar, has been covering the budget for the last 20 years. He says over time the network’s approach has become more holistic. 

“Initially, our budget analysis focused on the impact on specific stocks. Now, we consider the broader implications, including sectoral and economic perspectives,” he says.

However, he says, the fundamental interest in knowing what to buy or sell remains unchanged. “Although this core interest remains, our audience has become more knowledgeable and demanding, seeking to understand how announcements affect their daily lives,” he adds.

Over the years, the budget coverage has evolved to leverage digital mediums for breaking news and analysis from verified sources. But the rise of digital has brought another competitor for these business news channels—finfluencers.

While acknowledging the rise of finfluencers, Singhal says it has not changed the network’s content and budget coverage. 

“Finfluencers smartly identified a gap when mainstream media didn't fully embrace social media. They capitalised on this vacuum, but their influence may only last for a short period. Only a few bring lasting credibility. In contrast, we offer 20 years of experience and credibility. People recognise that I am present on both TV and social media, resulting in higher engagement rates on our Instagram reels compared to most influencers,” he says.

Singhal started posting reels on Instagram last year and has already gained half a million followers. “Finfluencers opened up a new stream, but sooner or later, people like me will fill that space. We are already halfway there, if not fully there yet. People have seen me on television for 20 years and readily accepted me on Instagram,” he adds.

Apart from the television broadcast, the network will also be streaming its budget coverage on Connected TV (CTV) and YouTube. 

“We believe this budget will be a defining moment for CTV, solidifying CNBC’s presence on the platform. We ensure that wherever consumers engage with us, they receive valuable content to help them understand, decode, and demystify the budget as soon as the FM’s speech is over,” she says. 

It has seen a significant increase in the number of deals for CTV, with strong acceptance of the platform by premium advertisers.

"Advertisers will have different opportunities on television and CTV. Today, advertisers have a vibrant array of options to target their audience precisely, whether it's on TV, CTV, on-platform, or off-platform advertising. We work with advertisers to determine the best mix to maximise impact, ensuring they can reach their consumers effectively across various channels," she adds.

The network is also working to increase the skew of female viewership. Currently, almost 80% of CNBC-Awaaz and CNBC Bajar viewers are male. The network is trying to bring in a balanced split between male and female viewership.

Singhal says this skew is seen across networks and across the country. The only exception might be Karnataka, where more women are participating.

With an aim to encourage more women to engage in business and the stock market, it has initiated a lot of women-centric programming and brought many women experts onto the channels. It also creates content specifically for women, addressing their life stages, financial management, investments, and careers. For instance, on CNBC TV18, it has a major initiative called Future Female Forward, now in its second season. This programme focuses on making gender parity in the workplace a reality by engaging all stakeholders in corporate India.

Mehra says women are engaging with the network more than before, both on television and CTV. On YouTube, around 40% of its audience is women.

While FMCG brands that seek to target female consumers are not consistent advertisers on these channels, there are regular investments from jewellery brands, particularly those dealing in gold. However, in financial services, there's a significant movement to get women more involved in investing and making financial decisions. Many clients within this sector are now engaging with women, and the CNBC network creates content that speaks to female consumers and investors.

"Brands consistently associate with us in this space because, as a community—including brands, businesses, and us at CNBC Awaaz and CNBC Bajar—we are committed to supporting and promoting this revolution of encouraging more women to participate in investment and financial decision-making," Mehra adds.