SUMMARY
Among these companies are Dream11, Ceat, Saudi Tourism, Aramco, Mastercard, RuPay, PhonePe, MyCircle11, and DP World
Newer companies like Cred, Upstox, and Paytm have opted out of participating in the IPL this time, possibly to focus on cost reduction
As outlined in the RFQ released by the BCCI on January 29, the price for an associate partner stands at INR 65 Cr per year for 74 matches, with six official partner slots available
Nine major companies, including Dream11, Ceat, Saudi Tourism and Aramco among others, have reportedly bought the tender document for the Indian Premier League (IPL) associate and special partner slots.
As per ET’s report, the other companies in the race are Mastercard, RuPay, PhonePe, MyCircle11 and DP World.
It is pertinent to note that five out of these nine companies are already sponsors of the IPL.
Earlier, Dream11, Saudi Tourism, and RuPay served as associate sponsors, Saudi Aramco was associated with the orange and purple cap, and Ceat was the strategic time-out partner.
Newer companies like Cred, Upstox, and Paytm have opted out of participating in the IPL this time, possibly to focus on cost reduction.
The deadline for purchasing the request for quotation (RFQ) document was February 19, with bids due to be submitted by February 21.
As outlined in the RFQ released by the BCCI on January 29, the price for an associate partner stands at INR 65 Cr per year for 74 matches, with six official partner slots available.
Additionally, the prices for partnerships such as the Orange & Purple Cap, Umpire, and strategic timeout are INR 60 Cr, INR 50 Cr, and INR 40 Cr per year, respectively, for 74 matches.
IPL is one of the most-watched sporting events in the country. To put this in perspective, as many as 505 Mn people tuned in to watch last year’s edition of the IPL, revealed the stats from BARC India.
Even the viewership watch time stood at an impressive 427.1 Bn minutes, Disney Star stated in a press release.
With that kind of eyeball, companies look at the event to advertise their products and offerings. The high-profile event is a mega extravaganza where brands vie to splurge big to have their promotions plastered all over the TVs during ad breaks.
As per Redseer report, IPL 2023 witnessed a gross gaming revenue of approximately Rs 2,800 Cr with 61 million users participating in fantasy gaming.
Redseer’s analysis shows a 24% jump in gross gaming revenue from Rs 2250 Cr in IPL 2022, and the market has grown at a CAGR of 30% since IPL 2019.
The analysis conducted by the strategy consultant reveals that IPL 2023 experienced significant growth in user acquisition, with 35% of newcomers engaging with the platforms for the first time.
This influx of new users contributed to an 11% rise in cash users throughout the season, with an average expenditure of Rs 127 per user per match.
Regarding IPL 2023’s advertising revenue, Redseer’s estimation indicates a total expenditure of approximately Rs 10,000 Cr. Of this amount, the BCCI, franchises, and broadcasters collectively garnered 65% as direct revenue.
The remaining 35% constituted indirect revenue generated through ad placements on social media, traditional media and other internet platforms.
