MxMIndia

Tag: IPL 2022

  • … notes a D and P Advisory report titled report titled 'Beyond 22 Yards'

    IPL valuation jumps 75% to USD 10.9 bn in 2022

     

     

    By Our Staff

     

    D and P Advisory, a leading providers of consulting and advisory services, has announced the launch of a valuation report on the Indian Premier League (IPL) for 2022. The report titled ‘Beyond 22 Yards’ highlights that the value of IPL ecosystem registered a 75% growth since 2020, and now stands at USD 10.9 billion.

     

    Here are highlights of the report:

    In 2020, the IPL was valued at USD 6.2 billion. This valuation makes IPL a Decacorn (a business with a value more than USD 10.0 billion) within 15 years of inception. The IPL Ecosystem represents the value generated by the IPL as a business.

     

    A landmark event this time was the auction of the IPL media rights for 2023 to 2027. For the first time, media rights were spread among different broadcasters, breaking the monopoly of one company. The league has sold media rights at USD 6.2 billion, registering a three-fold jump compared to the previous 5-year cycle in 2017. Additionally, the tournament in 2022 also registered a record breaking combined viewership of 426 million on television and OTT platforms.

     

    With two new teams (Gujarat Titans and Lucknow SuperGiants) getting bought last year at a combined staggering value of USD 1.6 billion, the average price tag of a team has seen a whopping 16-fold jump from its inception. These two factors were instrumental in boosting the valuation of IPL to become a Decacorn and the second largest sporting league (on a per match basis from broadcasting fees) globally.

     

     

    To add to the momentum, the Board of Control for Cricket in India (BCCI) has announced the launch of Women’s Indian Premier League with a base price for a franchise at INR 400 crore (USD 50 million). This price is higher than most other cricket leagues globally, and will add immense value to the overall IPL Ecosystem.

     

    However, on a broader scale, IPL is significantly behind in terms of ad rates, when compared with some of the other global sporting leagues. For example, a 10-second slot for an ad during IPL 2022 costed nearly USD 20,000; whereas, the ad rates for the same time slots at National Football League, English Premier League and Major League Baseball were over USD 1,00,000. Drawing this comparison, the report mentions how IPL has a lot more space to grow in future provided broadcasters are able to monetise the content well.

     

     

    On the launch, Santosh N, Managing Partner, D and P Advisory sid: “Since its launch in 2008, IPL has reimagined the nation’s cricket competition. IPL 2022 witnessed some major milestones and captivating games throughout the season. The renewed media rights deal was a major contributor towards a substantial jump in value for a relatively young league like IPL. These observations are an assurance of the fact that the IPL will continue to revolutionise the game of cricket and will be etched in the hearts of millions of fans for years to come.”

     

    The report goes on to say that the IPL team owners are looking to replicate the multi-club ownership model as part of their long term strategy. For example- The Knight Riders Group owning the right to Trinbago Knight Riders in the Caribbean Premier League, and a franchise of the UAE T20. It also has plans to build cricket stadiums in Los Angeles, USA, in partnership with the Major League cricket. Reliance Industries, the owners of Mumbai Indians, recently unveiled two new franchises in UAE’s International League T20 and Cricket South Africa T20 League.

     

    Furthermore, with BCCI having forged and locked in new broadcasting deals for the next five years, the report foresees a more stable phase in terms of the value of the IPL Ecosystem. “The value appreciation may not be as fast as seen in the earlier years”, it states.

     

    The report also states that the digital rights being sold separately from TV rights would result in greater engagement on the digital platforms. Further, the impending introduction of 5G services, greater penetration of the internet and increased smartphone usage will add to the rise in viewership.

     

    The report concluded stating that for these growth trajectories to maintain their momentum, all teams need to continue broadening their footprint, forming relationships, and generating revenue opportunities in different markets. Ultimately, apart from the love for cricket that viewers have, much of cricket’s future depends on ensuring quality; not just for the fans, but also to attract sponsors and broadcasters, the latter of which have become vital for the game’s financial health.

     

     

  • The digital film campaign highlights love for cricket and beer

    Supari Studios joins Bira91 to cheer for Delhi Capitals

    By Our Staff

     

    Bira 91, the craft beer brand, has collaborated with Supari Studios for a campaign. This is to further strengthen its position as “Official Cheer Partner of the Delhi Capitals”. As part of the campaign, Supari Studios has created a film for Bira 91 amplifying the Delhi Capitals anthem.

     

    Talking about the project Joel Nigli (Director) of Supari Studios said: “Delhi Capitals have had a rocky season this IPL 2022. But when you’re a true fan, you stick by your team through the ups and downs. With the heartwarming emotion of the ‘O Dilli Re’ anthem, and the undying spirit of the DC fans, we tried creating a piece that would depict the strong connection between Bira 91, cricket and Delhi. This campaign is meant to bring out the spirit de corps between the lovers of the city, lovers of Bira 91 and die hard fans of DC.”

     

    Added Vishal Gaba, Associate Director, Marketing, Bira 91: “Cricket and beer are an integral part of Delhi’s spirit and as a brand that is born and based in the heart of the city, Bira 91 holds a strong emotional connect with the home team, Delhi Capitals. We are delighted that Supari Studios was able to bring this connection alive through a vibrant film that is a tribute to the home team and to the city of Delhi.”

     

  • The campaign is titled 'Apna Cricket Adda'

    Meesho celebrates small biz in IPL campaign

    By Our Staff

     

    Meesho, the internet commerce company, has launched a campaign to celebrate small, hyperlocal businesses, tapping into the cricket fever around IPL 2022. The campaign, titled ‘Apna Cricket Adda’, showcases how small shops and businesses act as a unifying force during the cricket season.

     

    Meesho’s latest campaign celebrates every shopkeeper who keeps their doors open for Indians from diverse walks of life, joined together by their shared love for the sport.

     

    Said Laksminarayan Swaminathan, CXO, Supply Growth at Meesho: “Every year, the passion for cricket in our country hits fever pitch during the season. Small stores are an indispensable part of the festive mood that pervades towns and cities across India during this time. With the cricketing season in full swing, we thought this campaign would be an ideal celebration of MSMEs fuelling India’s passion for cricket.”

     

    Added George, Chief Creative Officer, Cryptic Intel, Meesho’s creative agency: “Through this film we have tried to capture the essence of India and cricket and add to that the spirit of entrepreneurship and Meesho. To showcase the joys and aspirations, the hopes and fears, the very vibe of Indians everywhere.”

     

     

  • Dream big is also following a classical strategy of thematic and tactical ads, writes Vikas Mehta in his weekly review of ads aired around IPL 2022

    Dhoni abandons his ‘Dream’?!

     

     

    By Vikas Mehta

     

    Vikas MehtaSo, it’s been a very usual and unusual IPL so far. Usual, because Mumbai Indians (MI) have lost the first two matches. But the MI captain Rohit Sharma felt it was business as usual in his post-match interview. Unusual, as Chennai Super Kings have also lost the first three matches on a trot, albeit after years. Unusual also for CSK as Dhoni, after relinquishing his captaincy seems to have taken it back and is also scoring runs as in his heydays.

     

    And as usual, Dream 11 continues its dream run at IPL. The idea of “Dream Big” has seen many new frontiers. The series of various players like Shikhar Dhawan, Rishabh Pant, Rohit Sharma, Jasprit Bumrah and Hardik Patel reminiscing their struggles but not giving up on their big dream has two new creatives so far. One, with Pant and the other with Sharma. And this time, they pay tribute to some behind the scene people like the groundsman or even a stranger helping Pant at a gurudwara. The thought of one is never alone if one’s big dreams fits seamlessly into the Dream Big theme of Dream 11. Whew! Too many dreams here.

     

    https://youtu.be/3JazfubLOgI

     

    Dream big is also following a classical strategy of thematic and tactical ads. For the uninitiated, when advertising was the be-all and end-all of all communications, brand ads were created for brand equity, may be once a year, extolling the virtues of a brand and its personality. These were called thematic ads. Interspersed through the year were tactical ads which by nature would drive sales. These were by nature about inducements or sale pointers. Personally, I think this was more of a jargon-spitting marketer’s delight, as for the end-consumer. every communication is a message and she or he does not delve into it with a separate compartment of thematic and tactical in her or his mind. The ads with Dhawan, the Pandya brothers, Ashwin and even Pant in a metro asking people to try the Dream 11 seems to be in the genre of the tactical ads of yore.

     

    https://youtu.be/Dn7ixMGB_dM

     

    But one dream seems to be missing from Dream 11. Dhoni has disappeared from all communications and has now appeared for Winzo. Another gaming app. Winzo is not about a fantasy league. It’s about skill and social gaming and I presume it’s clear of any controversy related to “gambling” as Dream 11 is. Maybe that’s why Dhoni moved away from Dream 11. In the ad, Dhoni cheekily starts by saying that he is called gamechanger so he is changing his game from today. Very unusual but typically clever from Dhoni.

     

    Quite unusually, I am seeing Byju’s ads without Shah Rukh Khan. And these are good. Emphasising on understanding the concept rather than memorising for an exam. ‘Samjho seekho jeeto’ encapsulates the idea well. As a parent, these resonate with me more than the Shah Rukh ads which seemed more gimmicky. I also think Shah Rukh’s personality does not gel with that of Byju’s and made the brand more flippant.

     

    There has been a lot of buzz about the new Spotify ads. I like them because they amplify the generation gap between Gen Z and the millennials as also Gen X. While Gen X and the millennials are passionate about politics or shopping offline or any discussion and are more social, GenZ is more reclusive and more digitally social. So, Spotify is their ‘kavach’ or protective armour from these indulgences of the older generations. Unusual, yet simple.

     

    I also think that the Meesho ads capture a similar trait of Gen Z. The features of photo search or free delivery are neither new nor unique but they capture the essence of Gen Z. While millennials or Gen X prefer offline shopping and want to see all options, Gen Z is not only used to online but also wants trendy or happening products. So, these features serve them well.

     

    Does Aamir Khan have a triple role in his next film? The series of Netmed ads make me think so. Or, wait! Was it Pharmeasy? Or 1mg? At least Pankaj Tripathi was not about triple or double role. Not only are the names confusing but so are the generic benefits. From a consumer perspective, when I fall sick, I need medicines, fast. Not in a day or in a few hours, but in minutes. So, except for long-term medications like for diabetes or cholesterol, I am not sure how these medicine aggregators can help. What do the investors and these start-ups know that we don’t?

     

     

    And just when I was about to sign off, I saw two similar ads from PepsiCo company. For Pepsi and for Slice. It seems the company has taken competitive stance as a corporate paradigm. But then what’s the fun if unusual things don’t happen. More on the two ads next week.

     

     

    Vikas Mehta, a senior advertising professional, is now a strategy consultant and educator based in Dehradun. He has a considered, often contrarian view that we enjoy consuming (and contesting) on most things around him: cinema, cricket, advertising, politics and life in general. AdsOnIPL is a series of reviews of the ads aired around IPL programming. The column is in its second season. His views here are personal.

     

     

  • To drive equity participation in India

    Upstox trading platform launches campaign

    By Our Staff

     

    Upstox, an online stock trading platform, has launched its Indian Premier League (IPL) 2022 campaign, ‘Own Your Future’.

     

    Said Kavitha Subramanian, Co-Founder, Upstox: “The campaign ‘Own Your Future’ intends to encourage more Indians to participate in the equity market and make the right investment choices through Upstox. Young Indians today understand the value of owning assets and building a portfolio, via owning shares in companies. There’s a huge rise in startup culture and they understand that even if everyone cannot be an entrepreneur, you can still own a share of a company, and participate in its long term upside. Just like IPL has redefined cricket, Upstox aims to redefine investments for its customers. We have grown 3X year-on-year and expect a similar growth trajectory this year as well. We are positive that this campaign will help drive a culture of equity investment in India, as well as encourage more Indians to take charge of their financial future.”

     

  • Launches 'Khelenge Dil Kholke' campaign

    Ogilvy creates One Dream for Mumbai Indians

    By Our Staff

     

    Mumbai Indians launched its campaign film of IPL 2022 called – One Dream.

     

    Said a Mumbai Indians spokesperson: “The past 15 years, Mumbai Indians have always played from the heart. We have played with passion and given it our best on the pitch. Khelenge Dil KholKe is inspired from that ethos and “One Dream” is our vow to the young players that we identify. It is our commitment to offer them the support of the Mumbai Indians eco-system, help them hone their skills and achieve their dreams. We hope “One Dream” inspires young players to play hard, be sincere in training and believe in their dreams, because dreams do come true.”

     

    Added Anurag Agnihotri, Managing Partner – Creative, Ogilvy: “Cricket is the ultimate karmabhoomi for many young Indians. Many have come from different walks of life to give wings to this one dream. And success hasn’t eluded them. Mumbai Indians and this film stand firm testimony to that fact and will continue to do so.  The creative idea explores the undying spirit of our young cricketers. To never give up and to believe in your dreams. Because it doesn’t take time to go from gully cricket to international cricket. It’s just a matter of faith and the right direction. After all, dreams do come true.”

     

     

  • Introduces the fintech company's bounty and the mega rewards

    Karisma Kapoor promotes Cred

    By Our Staff

     

    Cred, the fintech company, is back with its latest campaigns for IPL 2022- Cred: Play it different. The ad features actor Karisma Kapoor who introduces Cred bounty and the mega rewards Cred members can win during IPL 2022.

     

    The ad was conceptualised and written by Tanmay Bhat, Devaiah Bopanna, Puneet Chadha and Deep Joshi. The film was produced by EarlyMan Films and directed by Ayappa. To set the tone of the campaign right, Karan Malhotra lent his expertise to compose the music for the film.

     

    Said Kunal Shah, Founder, Cred: “This year, we want to encourage Cred members to invite their friends & family to win big with Cred. We have launched Cred bounty which lets members invite their contacts to play and win exciting jackpots.”

     

  • Vikas Mehta is back with his weekly reviews of #AdsOnIPL as the 10-team, 74-match league took off last weekend

    Unusual is the new normal in IPL 2022

     

     

    By Vikas Mehta

     

    Vikas MehtaIt’s been an unusual 2022 so far. For Indian cricket. India lost a Test series in South Africa after an unusual first Test victory. Then we also lost the ODI series with an unusual 0-3 scoreline. Sri Lanka toured India after an unusually long interval and got beaten soundly. That I must confess was as usual. The women’s cricket team was unusually dumped out of the World Cup. But the most unusual thing has been that the IPL is happening in India and that too in front of some crowds. And the one constant or the usual is that I am back with my weekly column looking at the new ads released during IPL.

     

    The first weekend has as usual resulted in Mumbai Indians losing their first match. And many new ads. As usual, most of them have been predictable, boring and ordinary. So rather than draw up a list of all such ads and pan them, which I usually do, I thought of doing something unusual. Let me look at one brand which has through the last two-three editions of IPL produced some memorable advertising and indeed been unusual in its approach.

    Cred is a unicorn which has gained much more traction than any other new brand. With a reported revenue of around Rs 95 crore, the brand has reported a loss of about Rs 425 crore. Before you start saying that’s also unusual, let me point out that it is not, as most new age tech companies have a similar financial model. But what’s unusual about Cred is that a big chunk of its expense is towards traditional advertising. Which is not unusual as Cred has a clear grasp on its TG. Cred is talking to the credit card owners, and there are around 50 million credit cards issued in India. Most of these are the high net worth or the salaried senior management millennial. And these millennials have seen India changing in front of them. For them, India changed from Mother India to Miss World, India changed from we to I and India changed from a problem of few choices to a problem of plenty. And of course, India changed from Madhuri Dixit, Kumar Sanu, Bappi Lahiri to a new influencer every day.

    So, the nostalgia of a yesteryear superstar caught on. Then came the nostalgia of some cricketing icons. The people who were fierce competitors but gentlemen in spirit. To unleash their hidden beast was almost like a what if situation. Imagine if Dravid was not unflappable or Srinath and Prasad were actually part of a boy band. And now comes the third stage of nostalgia for the same millennials. Old iconic ads being remembered with a twist. Nostalgia has been Cred’s secret success sauce and it has hit the nail on the head with the TG.

     

    So enough of my pontificating. Did you notice the unusual Kamla Pasand ads? Why unusual? Because last year AB had very solemnly declared that he did not realise that the brand was doing surrogate advertising for a gutka or pan masala which is not good for health and now that he has been informed of the same, he is withdrawing from the campaign and returning the money to the company. I guess his cheque was postdated. For after eternity. Or is it the case of an unusual publicity stunt?

     

    And did you see the Harsha Bhogle being tortured after being kidnapped ad for some Fantasy Akhada game? The ads have a “to be continued” at the end. I am not sure who is being tortured here. Harsha or us? Incidentally, the brand did try a PR stunt. It seems Harsha was being interviewed live from home on some digital channel when he disappeared with some audio of his alluding as if he has been surprised by intruders. It did go viral with lot of fans expressing concern. Harsha finally apologised for the stunt. Going viral by hook or crook, be it the KP way or the Harsha way is not unusual now. Hey, I meant Kamla Pasand not the political discourse you have been following.

     

    It also looks like that a new Aamir Khan film is on its way. His usual PR machinery is on an overdrive with quite forgettable ads for PharmEasy and Vedantu.

     

    I will of course have no comment on the unusual Jaguar bath plus light ad which featured fully clad people in living rooms sitting on a toilet or taking a shower. Please, let’s get back to some usual ads.

     

    Vikas Mehta, a senior advertising professional, is now a strategy consultant and educator based in Dehradun. He has a considered, often contrarian view that we enjoy consuming (and contesting) on most things around him: cinema, cricket, advertising, politics and life in general. His views here are personal.