wp-ultimate-review domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home1/xwtxypmy/public_html/website_3fb4db1c/wp-includes/functions.php on line 6170The post Dream 11 CEO Harsh Jain Rubbishes China Connection appeared first on Latest stories from Media, Advertising, Marketing and Startup world.
]]>Harsh Jain reiterated that the new Indian Premier League (IPL) title sponsor Dream11’s DNA is fully Indian and said attaching its name to the country’s richest sports tournament is an opportunity to greatly expand the user base. The fantasy gaming platform’s Rs 222 crore winning bid has earned it the spotlight but the choice has also angered some because it has Chinese investors.
Chinese smartphone maker Vivo had exited from the race of the title sponsor for IPL because of public anger over hostilities at the Sino-India border. This led to calls for a boycott of Chinese products and companies.
The Confederation of All India Traders (CAIT) had complained about China’s biggest gaming and social media company Tencent Holdings has a minority investment in Dream 11. Tencent had led Dream11’s series D funding round of $100 million, along with other investors including Kalaari Capital and private equity firm Multiples Alternate Asset Management in September 2018. “We focus only on India–our employees, founders, and users, all are from India,” said Jain, co-founder, and CEO of Dream Sports, which runs Dream11, title sponsor of the 13th edition of the IPL, which starts on September 19 in the United Arab Emirates (UAE).
“We don’t disclose our capitalization table and prefer not to talk about it. We’ve submitted our papers to the BCCI (Board of Control for Cricket in India),” Jain told ET. “Also, one has to understand that if you are leading the round, it doesn’t mean you have done the whole round. We submitted it to BCCI because it was a requirement. Everyone else can speculate.” BCCI runs the tournament.
IPL 2020 will break records and Dream11, as the first sports brands to become title sponsor, will benefit, Jain said. Previously DLF, Pepsi, and Vivo have been title sponsors.
“We’ve always had this one goal–to be synonymous with sports. When you think of cricket, football, kabaddi, basketball, hockey, we want you to think of Dream11. We want to be the bridge between the consumer and the sport. And what better property than IPL for that,” Jain said. “I’m very excited by the prospect of Dream11 IPL helping us be more synonymous with sports and especially at a time where people are dying to watch IPL. The numbers are going to be fantastic.”
To achieve returns on the Rs 222 crore the company has bid it will have to work hard.
“It’s a good value, otherwise we wouldn’t have put a bid for it,” Jain said. “We now have to make sure that the plethora of users that will now get to know about something called Dream 11, when they come to our website, they understand and convert to creating a team on our platform.”
According to market estimates, India has about 100 million fantasy sports players, out of which 82 million use Dream11. Jain said only a small percentage of them play for money.
“Almost 80% of our users have never played for money–the whole point is user engagement. But when we launched in 2008, there was no market. Today we have 82 million and I see the overall potential to be around 250 million in the next two years,” said Jain.
A major boom is seen in the fantasy sports space in the past four years with more than 200 companies now compared with 30-35 in 2016.
“If you take 50 employees per company, it’s an ecosystem of over 10,000 people, in a category that did not exist before we stepped in,” Jain said.
Jain cofounded Dream11 with COO Bhavit Sheth in 2008 in Mumbai. It offers fantasy gaming in eight sports–cricket, football, kabaddi, basketball, hockey, volleyball, baseball, and handball with more than 5,000 matches per year.
For Dream11 with IPL Sports marketing experts see good value.
“The IPL title sponsorship gives Dream11 ownership of IPL as it shuts out the competition and (gives) legitimacy to their association with cricket,” said Tuhin Mishra, MD, Baseline Ventures. “They are also market leaders and, as the fantasy gaming category is growing by leaps and bounds, it gives them great opportunity… Also, IPL is a great Indian success story and so are Dream11, Byju’s, or Unacademy. They all are great Indian brands.”
Byju’s and Unacademy had also bid for the title sponsorship. Unacademy will be an official partner for IPL 2020.
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]]>The post Star India Hikes Their Ad Slot Prices For IPL appeared first on Latest stories from Media, Advertising, Marketing and Startup world.
]]>The game is set to take place at the United Arab Emirates behind closed doors due to the safety issues concerning Corona. So, the streaming partner Star is now selling ad slots at the rate of Rs 10 Lakhs to Rs 12 Lakhs for a ten seconds slot. The matches will commence from September 15 at 7:30 PM.
Since TV consumption has been up by 15% since the lockdown, things are looking up for the advertisement industry. The platform will be streaming the matches on Hotstar and is now attracting advertisers from all around the country as IPL’s viewership is most likely to increase this year.
“After COVID this year, companies are looking at recovery. Also, as IPL coincides with the festive season, the timing seems just right. Even with Vivo pulling out, we saw three bidders coming in and brands showing so much interest in the league. IPL, as we know, is a Pan-India property and is sure to lift the festive season. As the property manages to garner eyeballs from across the country, it will attract reams of advertisers,” says Shashi Sinha, CEO of IPG Mediabrands.
“With consumer sentiment having hopefully crossed the nadir, businesses will want to trigger consumer demand and what more popular advertising property than the IPL to do so. Despite the high rates, I believe brands will see this as an investment that will deliver ROI in terms of jump-starting demand. We’ve had at least 2 IPL-specific pitches over the past few weeks, so I would say that yes, brands will bet on IPL,” says Ayesha Ghosh, EVP & Head of Office, Taproot Dentsu.
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]]>The post Star Sports to Sell Ad Slots for IPL 2020 At Pre COVID Rates appeared first on Latest stories from Media, Advertising, Marketing and Startup world.
]]>Star Sports earned a revenue of Rs 2000 crores from last year’s IPL and is determined to earn a much bigger number this year despite the COVID situation. They have signed 12 sponsors and 80 advertisers so far and also tied up with other digital platforms. The matches will be streamed in Hotstar and the company is selling 10 seconds slots at a rate of Rs 12 Lakhs per slot.
To invite more brands, Star network has extended its pre-match program durations to 60-90 minutes. Hotstar is currently working on ways to bring live experience to their audience watching the matches from home. The matches will be commencing from September 16 behind closed doors. Apart from the usual advertising brands, Star Sports has seen new advertisers from two-wheeler brands, online education and mobile gaming platforms.
“IPL has always been the most-awaited national sporting event, now more than ever with the lack of live sports for such a long time. Despite the enormous demand and record-breaking viewership expected, for now, we are not increasing the price and are keeping it the same as what was planned for March 2020,” says the CEO of Star Sports, Karan Thakar.
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]]>The post Unacademy Ready Chases IPL 2020 Title Sponsorship appeared first on Latest stories from Media, Advertising, Marketing and Startup world.
]]>An official from BCCI confirmed that Unacademy has started with its process to place the bid, but has not agreed to make any disclosures at this moment. “I can confirm that Unacademy has shown interest and picked the bid papers. I have heard they will be submitting a bid and are pretty serious. So Patanjali if they bid, will have competition,” the senior official told PTI on conditions of anonymity.
This year the Chinese mobile phone company which used to pay BCCI a sum amounting to 440 crores has pulled out its hand from IPL 2020 because of the Sino-India border stand-off. The cricket board is now in search of a lesser value — between 300 to 350 crore for a period of four months and 13 days.
In further addition to the statement, the official said that Unacademy is a part of IPL’s central sponsorship pool with companies like Dream11 and Paytm on the list. “Yes, Unacademy is already in IPL’s central sponsors’ pool from 2020 to 2023,” the BCCI official said.
Asked what’s the difference between central sponsorship and title sponsorship, the official explained, “The central sponsorship doesn’t include jersey rights.” “In IPL, jersey logo can only be of title sponsor and apart from that the various team’s sponsors. If they become title sponsors, it will give them rights on various branding properties,” he said.
Asked about the specifics, he said: “The prominent space in the backdrop board in the post-presentation area, the backdrop in the dugout, and boundary rope. A lot of these branding opportunities apart from digital and media opportunities are part of the partnership,” the senior official said.
While no one from Unacademy was prepared to speak on the issue, an industry insider, who is privy to the Edu-tech company’s preparations to file a bid, said the firm is ready to take the big plunge.
“Unlike some of the other Edu-Tech apps, Unacademy has 100% Indian investment. And four and half months is the perfect time to get associated with a brand like IPL and broaden their horizons in terms of brand outreach,” the source close to the development said.
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]]>The post Star India to Rake Rs 1,500-1,700 crore of Festive Ad Spend from IPL appeared first on Latest stories from Media, Advertising, Marketing and Startup world.
]]>Although with the beginning of the festive season chances are high that Star India would likely gain from Festive ad, the overall picture seems to be dull and slow.
IPL will be played from the 19th of September to the 10th of November, the matches will be held in UAE across Dubai, Abu Dhabi, and Sharjah. It must be noted here that this is not the first time that IPL will be held outside India.
Star India as a leading media planner will make a business in the range of Rs 1,500 crore to Rs 1,700 crore in the form of revenue from the ad, and that is 20 to 30% less than of what has been estimated in last year which stood at Rs. 2100 plus ad revenue.
“Because the economy is down, a lot of advertising will go away. For many companies such as durables, festivities suit more than April-May. They are the biggest hope for IPL this year,’’ said another media planner.
There is already an expectation that IPL will record a massive fall in the revenue count, understanding the situation and the existing backlash faced by Chinese brands in India the IPL organizers have agreed to carry on the sponsorship for Chines Brands. Vivo will continue to act as the title sponsor for the tournament.
The broadcast right for all the platforms has been bought by Star for a period of five year from 2018 to 2022 at an amount of Rs 16,347 crore which includes the digital and the international rights. There has also been a forecast that the network will break even or make a profit of Rs 550 crore this year. However, it is very likely that the pandemic situation might turn the tables, with regard to targets and predictions.
As per Media planners they are expecting a good business from the FMCG companies and consumer electronics brands as the companies are going to make profits till the COVID situation normalizes, brands which deal with beverages and indulge themselves with ad spendings during summer may rework on their strategy in this season.
“It would not be a season for them to invest heavily. But at the same time durables and FMCG will pump monies. So it is a mixed bag. Now, how much will be compensated is a big question because the market is very soft. Star India is likely to go into the market this week onwards,” said a leading media agency head.
As the matches will go live during this festive season, Star India will take away the share of other broadcasters as brands are in the motive to ride their money in IPL, which is the first-ever tournament of its kind that has been played since the month of March.
The content-deprived audience is most likely to be glued to their TV sets and the tournament may even break all viewership records, experts said.
“The big impact could be on other broadcasters as IPL may absorb most of the festive spending. Whatever Star India may earn from IPL, whether it is Rs 1,500 or Rs 1,700 crore, will come from festive spending. It would be a double whammy for other genres whose revenues were wiped off by the lockdown in April and May and now IPL may hurt them in festivities when they were expecting to rebound,” said a senior executive of a leading media agency.
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]]>The post VIVO Pulls Out of IPL 2020 Next Day After Confirmation appeared first on Latest stories from Media, Advertising, Marketing and Startup world.
]]>The Galwan border dispute between Indian and the Chinese army which led to the death of 20 Indian soldiers has stirred great tension in both the countries. Due to this, fans have petitioned the Board of Control for Cricket in India (BCCI) to remove Chinese sponsors from the tournament.
These negative comments and reactions have made VIVO to pull out of the league one and half months before the game. Other sponsors like Realme, Oppo, Xiaomi which has invested 500 Crores for advertisements in the tournaments have also pulled back due to this issue. This sponsorship will affect the revenue of Star Sports around 15%-20% as Chinese brands contribute to 20% to 25% of the advertisements.
Harish Bijoor, the founder of Bijoor Consults Inc, said, “Nationalism, as a mass sentiment, is a powerful force. I believe brands have to bite into this reality. The best strategy for Chinese brands right now is to lie low, especially on a popular property like IPL.”
VIVO has broken a 440 Crore deal with BCCI and now BCCI has to find another huge sponsor to make up for this loss and start the league by September on the announced date.
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