The Indian Premier League (IPL) has become one of the world’s most lucrative properties, in terms of title sponsorship, after its rights were bought by Chinese mobile phone company Vivo for Rs 2,199 crore till 2023. The next and the only other bid was from competing mobile brand Oppo who bid for approx. Rs 1300 crore. What has catapulted IPL to where it is today? A week ahead of the bidding process for its television and digital rights, we explore why IPL is such a sought-after brand.
Before all that, it must be noted that Sony Pictures Network (SPN) and Star India will make aggressive bids for broadcast rights. Discovery Communications has also been reported to show interest. For digital rights, the prospective bidders are SPN, Star India, Amazon, Reliance Jio Digital Services, Twitter and Facebook.
The previous deal with Sony reportedly fetched BCCI roughly Rs 6,700 crore across the ten-year period. This time, the number can soar up to between Rs 18,000–30,000 crore.
For Vinit Karnik, Business Head - Entertainment, Sports & Live Events at GroupM, IPL’s fixed timing and relevance has made it what it is today. He says, “For the first time in the country you have a sporting league with a fixed calendar which makes the life of a marketer easy as he can plan launches, communication and campaigns around IPL. Marketers and fans are always eager to consume information about league off season, irrespective of good and bad, which also keeps the brand relevant.”
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e4mSpotlight: What makes Indian Premier League 'premier'
Before all that, it must be noted that Sony Pictures Network (SPN) and Star India will make aggressive bids for broadcast rights. Discovery Communications has also been reported to show interest. For digital rights, the prospective bidders are SPN, Star India, Amazon, Reliance Jio Digital Services, Twitter and Facebook.
The previous deal with Sony reportedly fetched BCCI roughly Rs 6,700 crore across the ten-year period. This time, the number can soar up to between Rs 18,000–30,000 crore.
For Vinit Karnik, Business Head - Entertainment, Sports & Live Events at GroupM, IPL’s fixed timing and relevance has made it what it is today. He says, “For the first time in the country you have a sporting league with a fixed calendar which makes the life of a marketer easy as he can plan launches, communication and campaigns around IPL. Marketers and fans are always eager to consume information about league off season, irrespective of good and bad, which also keeps the brand relevant.”
Continue Reading......
e4mSpotlight: What makes Indian Premier League 'premier'
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