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IPL 2023 Likely To Generate Over Rs 5,000 Crore From TV, Digital Advertising
IPL
The Indian Premier League (IPL) is set to gain over Rs 5,000 crore through TV and digital advertising in 2023.
This projection is based on the agreements secured by Disney Star and Viacom18.
The IPL media rights for television (Disney Star) and digital (Viacom18) are now separately owned starting this year.
Previously, both rights belonged to Disney Star.
Disney Star has made sponsorship deals worth Rs 2,400 crore and is currently in talks to finalise another Rs 600 crore, Economic Times reported citing a person with direct knowledge of the matter.
Viacom18 has achieved ad sales worth Rs 2,700 crore out of the set target of Rs 3,700 crore, according to a company executive cited in the ET report.
As many as 74 matches are scheduled for IPL 2023, which is starting today (31 March).
Traditional firms are major advertisers on TV and digital while startup advertising is scarce due to funding crunch.
Disney Star has reportedly secured 13 sponsors including Tata Neu, Dream11, and Airtel, while Viacom18 has 21 sponsors.
Disney Star will showcase IPL on over 22 channels, with the likes of Cadbury, Asian Paints, Pepsi, and LIC among its sponsors.
Viacom18 partnered with Dream11 as co-presenting sponsor and JioMart, PhonePe, and Tata Neu as co-powered sponsors for streaming IPL for free on Jio Cinema app.
JioCinema's IPL associate sponsors include AJIO, Parle Agro, ET Money, Castrol, Haier, TVS, Cadbury, ITC, Coca-Cola, Kamla Pasand, Puma, UltraTech Cement, Kingfisher, Rapido, Amazon, and Louis Philippe.
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