INX Media, the company set up by Indrani Mukherjea, wife of ex-Star Group CEO Peter Mukherjea, has roped in three top advertisers -- Vodafone, Reliance Industries and Future Group -- for their Hindi entertainment channel 9X. Each of these advertisers are believed to be paying Rs 35-40 crore (Rs 350-400 million) for a three-year contract.
The television broadcaster has formed Club INX, which will include corporates keen to advertise on the channel. Vodafone, RIL and Future Group will be a part of the platinum advertisers club, which will get more mileages compared with the gold advertisers and silver advertisers.
"The three platinum advertisers will be 9X's brand partners. Their benefits will include: committed number of secondages, rate protection, privileged pricing, preferential scheduling, priority check-in (can ask for a last minute ad slot), co-branded contests and a relationship manager dedicated to the account. Apart from this, advertisers will have presence across 9X's corporate communication activities," Probal Gaanguly, group director (sales), INX Media, said.
He added that there will be different offerings for gold and silver members.
Gold advertisers will be on board for two years, while silver advertisers will have a one-year deal.
Sources added that INX Media may rope in an online partner and a major real estate player as a platinum member. ICICI Bank and FMCG company Hindustan Unilever are believed to be in talks as well. Going forward, the same format will be adopted for the music channel 9XM and upcoming news channel NewsX.
It is for the first time that a television broadcaster has struck long-term advertising deals for a new channel. As of now, advertisers sign only annual deals with channels. In the past, Aaj Tak was the only channel that roped in two advertisers -- a jewellery brand and an undergarment brand -- prior to its launch.
"These advertisers are called preferred advertisers as they bet on the belief that the channel will do well and hence pledge an amount on a long-term basis," said an executive from a leading media buying agency. Experts observe that preferred advertisers are large advertisers with huge budgets.
INX Media will invest over $300 million to launch twelve news and entertainment channels. In the first phase, the company intended to launch one music, one Hindi entertainment and a news channel, of which two have been launched.
In the second phase, it will launch three regional channels, three regional music channels and three city-specific news channels.
