Cricket is like a Religion in India and is worshiped here. IPL is one of the most most successful franchise cricket league in the world, for which every cricket fan awaits. Even the people who are not a fan of this sport watch IPL because of the entertainment it provides. IPL is enjoyed by many Indians, where the whole family gathers together and relishes it. In 2019 a whopping 462 million viewers watched the 12th edition of the league on Star network channel between March 23 and May 12th.
Many big corporations have been sponsoring IPL for quite some time. After being on the driver seat of cricket sponsorship's for nearly 2 decades the big corporates have now stepped aside and Indian startups have taken over the sponsor tags. This season of the IPL is sponsored by Indian Startups, Dream 11 and Cred.
Timeline of Title Sponsors in IPL
Real estate developer DLF won the deal with a bid of $50.3 million in 2008. DLF Ltd ended its five-year long association as the title sponsor with cricket tournament Indian Premier League (IPL) in 2012.
After DLF's term expired in 2012, Pepsi Co got the title rights from 2013-2015 for Rs 79.2 crore per year. Pepsi Co had a five-year deal that was to end in 2017 but was ended in 2015 due to the 2013 spot-fixing scandal.
In 2016, mobile company Vivo replaced Pepsi Co as the title sponsor of the Indian Premier League (IPL). Again In 2018 Vivo raised the title sponsorship revenue of the IPL by 454%. Vivo has pulled out as the title sponsor of the Indian Premier League (IPL) for this year's edition, following backlash on social media. Vivo had paid Rs 2,199 crore for a five-year contract in 2018.
After the recent clashes between India and China alongside the Line of Actual Control (LAC), 'boycott Chinese products' slogan became stronger all across the Indian markets. Amid the rising tensions between the two nations, Chinese smartphone maker, Vivo, decided to exit IPL for a year as of now.
BCCI held a bidding process with an expectation of lower bids because of the COVID-19 effect on the markets. Dream11 managed to grab the title sponsorship rights for Rs 222 crore, leaving Byju's and Unacademy behind.
Indian Startups Sponsoring IPL this Season
After being on the driver seat of cricket sponsorship's for nearly 2 decades the big corporates have now stepped aside and Indian startups have taken over the sponsor tags. Indian startups are sponsoring IPL to improve their brand popularity and market share in the country. IPL title sponsorship is the perfect opportunity to expand global presence of your brand.
Many Indian startups involved in the race to bag the title sponsorship of the Indian Premier League (IPL) but Mumbai based fantasy gaming startup Dream 11 bagged the deal leaving Byjus and unacademy behind.
Dream11 is the title sponsor of the 2020 IPL and the sponsorship amount is Rs 222 crore. Dream11 managed to grab the title sponsorship rights for Rs 222 crore, leaving Byju's and Unacademy behind. The duration of the sponsorship is until December 31.
Mr Harsh Jain, CEO & Co-Founder, Dream Sports (Dream11) said:
“ The launch of IPL in 2008 gave birth to the idea of Dream11. As avid sports fans, we wanted to offer fantasy cricket to IPL fans to help them further engage with the sport they love and showcase their sports knowledge & skill. Being a proud homegrown Indian brand that is made in India, by Indians and exclusively for Indian sports fans, we would like to thank the BCCI for giving us an opportunity to become the Title Sponsor of IPL.”
Fintech startup CRED bagged the deal to be the official partner of IPL 2020. It has a three-season partnership which will see the association run through till the 2022 season. At the end of every game, Cred will reward the Payer of the Match where the 100th or the highest bill-payer during each match will win ₹100,000 in prize money, awarded in a special video conference ceremony and showcased on a 'virtual fan box' at the stadium.
Kunal Shah, Founder and CEO, CRED, said:
“We are extremely pleased to be associated with IPL, without a question among the most high-profile events on the world’s sporting calendar. CRED is aimed at giving millions of people access to the good life through improved credit standing, trusted community, and special experiences.”
Unacademy is a Bengaluru-based ed tech firm that has roped in as the official partner for the Indian Premier League (IPL) for three seasons. The sponsorship for three years will cost Unacademy INR 120-130 crore, reports suggest.
“We are delighted to become the Official Partner of IPL. Unacademy is a high-intensity brand that has disrupted the education and learning market with innovations and broken geographical barriers for Learners and Educators.
Marketing is not just about making money, it’s also about making your presence felt in the market and IPL title sponsorship is the perfect opportunity to expand global presence of the brand. It is is one of the most successful franchises cricket league in the world. More than 70 matches over a period of 50 days are played. International and Indian cricketers turn out to play every day thus producing content that keeps the viewers tuning in the day in and day out is just what brands need. IPL has a sheer range of investment opportunities that makes it relevant to brands across various categories.