According to the Duff & Phelps Report, the IPL ecosystem as of 2019 was estimated at 6.8 billion USD. The value has doubled in the last five years and may surpass the 7 billion mark or remain constant amid the pandemic. To reflect this feeling of prosperity, IPL Brand Collaborations 2020.
Despite the unparalleled economic downfall, the number of advertisers, sponsors, partners, and alliances flooding in and unloading a chunk of their ad spending in the 2020 season is a testimony to the gain in yield brands.
With the digital broadcast and social media activity of the teams, the response from viewers adds to the television broadcast and on & off-ground events, making it a major promotional time and attracting several sponsors.
Dream 11-Sponsor of Title
Following the IPL backlash faced by a Chinese company in the midst of the geopolitical friction between India and China, Vivo is affiliated with an Indian league, IPL appointed Dream 11 (Sports Technologies Pvt. Ltd) as its title sponsor after a close call in the run with a few other Indian brands.
It’s going to be a Dream run for us ????
Get ready for the biggest T20 tournament – #Dream11IPL ????
— Dream11 (@Dream11) August 20, 2020
“Brijesh Patel, the Chairman, IPL, said,” Dream11 would only increase the IPL ‘s engagement with its fans as a fantasy sports brand. It will give them leverage as a digital brand to establish thrilling online interaction for fans sitting at home and watching the matches as well.
Unacademy- Official Partner
The brand has started to carry out promotions and competitions that increase the information and aspirational value of the league. With this alliance, we will double down on our efforts to make Unacademy the largest brand in the consumer internet space in India, “Karan Shroff, VP Marketing, Unacademy, also shares.”
CRED- Official Partner
A three-season partnership deal has also been bagged by Credhttps://nextbigbrand.in/bcci-announces-cred-as-official-partner-of-ipl-for-next-3-years/, and the company aims to do more than brand awareness; it wants to educate the masses on handling their finances, more precisely, better managing credit.
Tata Altroz- Official Partner
The third year of association with the Dream11 IPL was confirmed by Tata Motors, with its hatchback Altroz being the official partner of the tournament.
“Tata Motors mentions Vivek Srivatsa, Head, Marketing Passenger Vehicle Business Unit (PVBU),” We have extensive plans to catch the attention of the audience, who will digitally support their favorite teams, on-air and through digital channels.
Paytm- Umpire Partner
Following their five-year contract in 2018, Paytm remains the IPL ‘s Official Umpire Partner.
“At the time of the agreement, Vijay Shekhar Sharma, Paytm’s founder, and CEO said,” Cricket was a key element in Paytm’s brand journey, and it worked beautifully for our young brand.
CEAT-Official Partner for Strategic Timeout
The Board of Control for Cricket in India ( BCCI) announced in 2018 that it will continue its association with CEAT for the next five years as the Indian Premier League’s Official Strategic Time Out Partner.
The number of sponsors and bigger companies partnering with a team in most sports leagues basically depends on the success of the team. But for IPL, more variables play a role, probably a larger role, along with performance.
For instance, despite not having won a single season, Royal Challengers Bangalore can attract a range of sponsors and partners, mainly due to the presence in India of its captain Virat Kohli, the # 1 celebrity endorser for two consecutive years (2018-2019), and a household name. Similarly, the Super Kings of Chennai have MS Dhoni as the face of CSK.
The investment of Mumbai Indians has established their brand value in the initial stages of IPL and while Sachin Tendulkar has not played IPL for a while, his face remains associated with Mumbai Indians.
Owners of celebrities such as Shahrukh Khan, Preity Zinta, and more often contribute to pulling sponsors as factors.
The social media activity of the teams has also been a significant factor over the last few seasons, as it contributes to the relationship with brand campaigns running on the handles of the teams gaining considerable traction.
IPL has strengthened the sponsorship market in India as it establishes itself as one of the premium sporting events with a combination of cricket and entertainment. This notion is also reflected by the rising brand awareness of all teams.
Common sponsorships include jersey sponsorship, audio collaboration, and more. The pandemic has given birth to new kinds, such as hygiene partnership and official mask collaborations, added to the traditional merchandising. Many teams are also capable of drawing partnerships from different industries.