Following the historic IPL Media Rights Auction and Player Auction 2023, the countdown to another exciting Indian Premier League (IPL) season has already begun. After overcoming the headache of getting a good cricketer onto the roster, the franchisee moved on to the next daunting task, landing some fruitful sponsorship deals.
Several teams have yet to secure his sponsorship spot for the main shirt next season. Digital startups have prominently sponsored his IPL team for the past few seasons, but their humiliating interest would hurt the franchise. Traditional advertisers are already lagging behind due to the overvaluation of media rights and don’t want more sponsorship than they did in previous seasons. The teams above generated the majority of their revenue from digital startups, as the sponsorship category on the front of their shirt contributed significantly to their sponsorship revenue.
Dream11 are Mumbai Indians (MI), Chennai Super Kings (CSK), Sunrisers Hyderabad (SRH), Gujarat Titans (GT), Rajasthan Royals (RR), Delhi Capitals (DC) and Punjab Kings (PBKS). ). Other digital startups such as ACKO, boAt, Open and Meesho also signed multi-team his sponsorship deals at IPL 2022.
His last IPL had a total of 30 startups as sponsors, with Royal Challengers Bangalore (RCB) and MI leading with 7 each.
Rights holders of India’s elite cricket competition charge significantly higher advertising costs than previous editions to compensate for such expensive acquisition of media rights. As a result, TV and OTT advertising costs skyrocket and become prohibitive for advertisers operating only in local markets.
Amid this chaos, the enormous price tag of the new media rights cycle also emerges as a silver lining. The brand, which could not afford to advertise on TV or his OTT, will move to partner with the IPL team and seek live gaming exposure in both broadcast media. With a strong presence in Southern India, the brand looks forward to partnering with CSK, RCB and SRH. TVS Srichakra Limited, the manufacturer of TVS Eurogrip (CSK’s main sponsor), is headquartered in Madurai, Tamil Nadu. RCB’s title sponsor, Muhoot Fincorp, is also based in Kerala. The brand seeks to follow in the footsteps of his two brands above as viable options for exposure amid the broadcaster’s high prices.
The sponsorship deal with the team gives the brand the privilege to conduct initiatives such as hospitality programs, live sessions, player interviews, and digital media content creation with the team’s players. For the 2021 season, digital payment app Phonepe has partnered with MI, RCB, DC and CSK. Through this partnership, Phonepe covers the whole of India as a national brand, with 2 out of 4 teams from the South, 1 from the financial capital of India and 1 from the capital of India. Ahead of Phase 2 of IPL 2021, Phonepe hosted a live stream #MeetThePaltan ft. MI, hosted by Vikram Sathaye.
Initiatives like this are also gaining traction, as the majority of our fan base looks to opportunities like this to connect with their favorite teams.
Agreements with Cricket News Platforms
Brands with strong spending capabilities beyond team partnerships can also focus their attention on partnering with digital cricket news platforms, running campaigns and reaching local masses. Companies like Cricbuzz and ESPN Cricinfo are the most popular digital cricket news platforms with huge audiences. He has over 100 million downloads of Cribbuzz. Moj partnered with Criccbuzz last year to expand its sports content offering.
content-based partnership
Since the pandemic, several changes have been made by the team on and off the pitch. IPL giants such as RR, MI and RCB have benefited from huge social media audiences in the last few editions, especially after cricket restarted in the wake of the COVID-19 pandemic. I was. The collaboration, in which both sides are thoroughly particular about the content, has received a great response. Considering the current scenario and the fact that IPL teams are building serious followings on social media, the majority of franchises will go this route next season. Below are his two interesting examples of this initiative. Center Fruit partnered with his RCB Insiders Show and Acko partnered with MI to give the team’s fans a central stage to show their fanbase.