Tag: IPL

Tata Sons matches Aditya Birla Group’s bid, secures IPL title sponsorship rights until 2028

According to BCCI (Board of Control for Cricket in India) sponsorship guidelines, highest bid submitted by the parties are subject to Tata Sons Private Limited exercising its ‘Right to Match’, wherein BCCI is required to notify Tata of the highest bid amount (highest bid) received for the Title Sponsorship Rights. (Image source: Twitter - @IPL)

Tata Sons, that secured the title sponsorship of the IPL in 2022, acquiring the two-year rights for a sum of Rs 670 crore will now be paying Rs500 crore annually.

IPL ecosystem valuation soars to Rs 92,500 crore in 2023 from Rs 87,000 crore in 2022

Amid the prolonged funding winter gripping the sector, startups have been forced to slash marketing budgets and are viewing IPL sponsorships with caution. (Image source: @IPL via X)

As per a D&P India Advisory Services LLP report, the value of Mumbai Indians stood within the range of USD 410-450 million, making it the most valuable IPL franchise in 2023.

Fantasy sports made Rs 2,800 crore in gross revenue during IPL 2023: Redseer

Hotstar, once proud of its impressive milestone of 150 million monthly active users, was experiencing continuous growth, largely driven by its exclusive streaming rights to the Indian Premier League (IPL). However, this growing user base turned into a significant challenge when Hotstar lost the streaming rights of IPL to Reliance's JioCinema.

The report also highlighted that a total of Rs 10,000 crore was spent on advertisements during the IPL 2023.

Brands able to rationalise expenditure through focused spending this IPL: R Venkatasubramanian of Havas Media India

R Venkatasubramanian says, "Despite this being JioCinema’s first season with IPL, brands have expressed substantial confidence in the platform. The number of advertisers has increased compared to the past season. Further, the platform has been offered free to subscribers, which opened a big opportunity for brands to try advertising in cricket and on a digital platform."

JioCinema has encouraged smaller brands with limited spends to advertise in IPL on digital, according to the president – investments at Havas Media India.

Brands with lesser investments can also be present on IPL on digital: Starcom India’s Navin Lalchandani

As per Navin Lalchandani, "Digital helps in sharp targeting and gives scale to brands which, in turn, reduces the wastage of reaching out to not-so-important markets, and brands with lesser investments can be present on IPL to target a few key markets."

Digital advertising dominates IPL, pushing ROI, reducing waste and making way for new brands.

IPL on digital fuels rise of connected TV; language streams major wow-moment for advertisers

The buzz score for IPL 2023 season 16 reached 484 million, surpassing the 334 million in IPL 2022. The primary reason for this surge was the emergence of several new players who showcased their talents, delivering match-winning performances and leaving a lasting impact. (Image by @CricCrazyJohns via Twitter)

Find out how brands are using the cricket juggernaut to reach audiences.

IPL’s free streaming on digital has given a lot of firepower to advertisers

Sidharth Singh, co-founder, CupShup, an online marketing firm, talks about advertisers witnessing favourable returns on investment on digital spends, leveraging platforms, tailored strategies and more.

The co-founder of CupShup says IPL on digital this season is seeing reduction in wastage due to factors like vernacular commentary option and more engagement embedded into the live matches.

JioCinema to grab two-thirds of total IPL AdEx this season

According to BCCI (Board of Control for Cricket in India) sponsorship guidelines, highest bid submitted by the parties are subject to Tata Sons Private Limited exercising its ‘Right to Match’, wherein BCCI is required to notify Tata of the highest bid amount (highest bid) received for the Title Sponsorship Rights. (Image source: Twitter - @IPL)

This season, the number of sponsors during IPL’s digital streaming has reached 26, which is the highest ever for any sporting tournament.

IPL on digital ensures laser sharp targeting for brands, says DDB Mudra’s Chirag Bhatia

DDB Mudra Group's Chirag Bhatia says, "The IPL product offering overall has evolved over the years with the slicing and dicing that is possible on digital for both viewers and advertisers. For viewers, things like commentaries in 13 languages and various camera angle options are amazing. For advertisers the option of being able to choose from various cohorts ensures a better bang for their buck."

Chirag Bhatia, senior VP – Digital, DDB Mudra Group talks about advertisers seeing good ROI and reduced ad spend waste in IPL 2023 on JioCinema.