How do brands encash platforms like IPL

The Indian Premier League (IPL) is a professional Twenty20 cricket league in India that was established in 2008 and is organised by the Board of Control for Cricket in India (BCCI). The IPL takes place annually in India and features cricket franchises or teams competing in a league format of Twenty20 matches which culminates in a semi-final and final match to determine the winning team for that year. The 2022 IPL had a total of 10 franchises with an additional 2 being added to the format. The teams in the IPL are formed through cricketer auctions conducted at the beginning of each season defined by a set of rules and limited budget. The franchises are allowed to retain 5 of their players and bid for the rest.

In 2022, the IPL secured a significant sum of ₹48,390.5 crore ($6.2 billion) through a broadcasting rights deal for the five-season cycle spanning from 2023 to 2027. Viacom-18, backed by Mukesh Ambani, acquired the digital broadcasting rights for ₹23,758 crore, replacing Disney Star as the incumbent, which retained the television rights for ₹23,575 crore. The global broadcasting rights for IPL matches were shared between Viacom and Times Internet for a total of ₹1,075 crore. Additionally, Viacom paid ₹2,991 crore for a separate category of non-exclusive rights to air 18 crucial matches each season.

Brands can encash the Indian Premier League (IPL) in the following ways:

Sponsorship

Brands can become official sponsors of the IPL, which involves associating their brand with the league through various promotional activities. This can include being the title sponsor, team sponsor, or even an associate sponsor, which provides them with extensive visibility and brand exposure during IPL matches, on official IPL merchandise, team jerseys, and other promotional materials.

Advertising

Brands can leverage the massive viewership of the IPL by advertising during IPL broadcasts on television, radio, and digital platforms. This can include traditional advertising formats such as TV commercials, radio spots, and digital ads, as well as innovative advertising formats like product placements, sponsored segments, and branded content during IPL broadcasts.

Brand Integration

Brands can integrate their products or services into the IPL ecosystem through strategic partnerships. For example, they can collaborate with IPL teams or players to create co-branded merchandise, launch special edition products, or promote their offerings through IPL-related promotions, contests, or giveaways.

Social Media Campaigns

Brands can leverage the extensive social media presence of the IPL and its teams to create engaging social media campaigns that capture the attention of millions of fans. This can include running contests, polls, live chats with players, and other interactive campaigns that encourage fans to participate and engage with the brand on social media.

Influencer Marketing

Brands can collaborate with IPL players, team owners, or popular cricket influencers to promote their products or services on social media platforms. This can include endorsements, sponsored posts, or brand mentions by influencers, leveraging their popularity and reach among cricket fans to promote the brand.

Conclusion

Overall, brands can encash IPL by leveraging its massive reach, popularity, and fan following through various sponsorship, advertising, marketing, and promotional strategies to connect with their target audience, build brand awareness, and drive business outcomes.