As IPL 2024 kicks off, JioCinema has secured 18 sponsors, while Star Network has managed to secure 15 sponsors for the tournament.
This year’s IPL will see JioCinema and Star Network, each holding digital and TV rights respectively, competing as rivals for the final time before their integration. This integration is part of a larger strategy by Reliance and Disney to form an $8.5-billion joint venture by the end of this calendar year or early next year.
JioCinema has signed Dream11 as a co-presenting sponsor, while Tata Motors, AMFI, PayZapp by HDFC Bank, Upstox, Charged by Thums Up, Cred, Britannia, Pepsi, SBI, Parle products, Google Pixel, Haier, Vodafone, Dalmia Cements, Jindal Steel, Kamla Pasand, and Rapido have joined forces as associate sponsors.
Among the prominent brands enlisted by Star Network for this season are Dream11, Asian Paints, Vimal, Thums Up Charged, Havells, Joy Cosmetics, Dettol, Harpic, Vanessa, Amul, Groww, RuPay Credit, HDFC PayZapp, Parle, and Mondelez. Additional sponsorships are reportedly in the pipeline as the broadcaster seeks to bolster its support.
According to the industry experts, Rs 4,000-5,000 crore in advertising money is riding on the IPL this year versus Rs 3,500-4,000 crore last year, which is a growth of around 14%.
In the previous year, both Star Network and JioCinema faced a tough battle for viewership and advertising revenue. Despite fierce competition, Disney Star reportedly earned between Rs 2,000 and Rs 2,500 crore, while Viacom18 garnered about Rs 1,800 crore.
