In a ground-breaking development that truly goes to show the irresistible charm and enormous draw of the Indian Premier League (IPL) and the opportunity definitely can’t be missed by the major brands, 9 brands have contested for the associate and special partner slots for the IPL. The report in Economic Times revealed that it involves a diverse scope of stakeholders like Dream11 and Ceat, various tourism entities, the companies Aramco and Mastercard, and two leading digital payment systems called MyCircle11 and PhonePe in addition to DP World. This clearly demonstrates the focus of IPL in different spheres such as sports marketing, tourism, and digital payment.
It is noteworthy that out of the five rivals, only 10% of them are inexperienced in the advertising campaigns of IPL. With Tradeur, RuPay, Saudi Tourism, and Dream11, previously the associate sponsors. The Logo’s of Saudi Aramco and Ceat was associated with credible orange and purple logo sponsorships in the past. On the other hand, it was the strategic time-out sponsor of Ceat Associating with IPL the level of value it perceives is demonstrated which is their continued support even in the dynamic landscape of sports sponsorships.
This year, unlike in the past, Cred, Upstox, and Paytm have reportedly decided not to participate in the social media marketing campaign, presumably focusing on cost optimization. The pivot was made in order to reconsider the spending on marketing after the recasting of economic conditions.
The bidding process was detailed, the deadlines for the request for quotation (RFQ) document is February 19, the bids submit is on February 21. Like other options, the cost for an associate partnership with BCCI was INR 65 Crore per annum. Currently, the Board of Control for Cricket in India (BCCI) had set the price for an associate partnership at INR 65 Crore per annum for 74 matches and other partnership options with varying prices, showcasing that IPL has a premium in its advertising opportunities.
The IPL’s massive viewership and engagement levels provide a compelling backdrop to this story. With over 505 million people tuning into the last year’s edition and a total watch time of 427.1 billion minutes reported by Disney Star, the league stands as a colossal platform for brand visibility and consumer engagement. This vast audience, coupled with the IPL’s status as a high-profile event, creates a fiercely competitive environment for brands to secure their advertising spots.
Moreover, the IPL’s impact extends beyond viewership to substantial economic activity, especially in the fantasy gaming sector. According to a Redseer report, IPL 2023 saw a gross gaming revenue of approximately Rs 2,800 Crore with 61 million users engaging in fantasy gaming. This represents a significant growth in the sector, attributed in part to the IPL’s capacity to attract new users and increase engagement among existing ones.
As the advertising revenue from IPL 2023 was estimated at around Rs 10,000 Crore, with a significant portion directly benefiting the BCCI, franchises, and broadcasters, the event’s financial implications are immense. The remainder of the revenue, coming from ad placements across various platforms, underscores the IPL’s extensive reach and its pivotal role in the broader advertising ecosystem.
This scenario of high stakes, strategic partnerships, and economic implications paints a vivid picture of the IPL not just as a sporting event, but as a cornerstone of modern marketing strategies. As companies vie for a piece of the IPL’s lucrative advertising pie, the league continues to set benchmarks in sports marketing and viewer engagement, solidifying its position as a key player in the global sports industry.
