Sony chasing Rs 1,300 crore from advertisement looks set for a victory in IPL-10
MUMBAI: Inching closer to its target of Rs 1,300 crore in advertising revenues from this year’s Indian Premier League, Sony Pictures Networks India, official broadcaster of the popular twenty20 league, has signed three more associate sponsors — Voltas, Havells and MakemyTrip.
Their addition takes the total tally of sponsors for the 10th edition of IPL to 12 so far. ET first reported that Sony Pictures Networks (SPN) has already roped in Chinese mobile handset maker Vivo, mobile service provider Vodafone and ecommerce major Amazon as co-presenting sponsors, besides CEAT Tyres, Vimal Pan Masala, Yamaha Motors, Parle Agro’s Frooti, Yes Bank and Polycab as associate sponsors.
“We have locked in 12 sponsors now and talks with a couple of categories like payment gateways, auto and FMCGs are still going on,” said Rohit Gupta, president of network sales and international business at SPN. “We have also got Reliance Jio and Oppo as large spot buyers, committing for more spots than even the associate sponsors. Between sponsors and spot buyers, we have 75% of the inventory already sold,” he told ET.
Unlike last year, when SPN sold the entire advertising inventory before the beginning of the league, at least 15-20% of the available spots will be kept for later this time, Gupta said.
“Last year we faced a situation where advertisers wanted to buy spots at a premium but we did not have inventory. This time, we have decided to keep 15-20% of the inventory for advertisers to buy at later stage. We will also increase price to Rs 6,25,000 per 10 seconds,” he said.
SPN had earlier fixed spot buy rates at Rs 6 lakh/10 seconds, while HD feed’s rates are at Rs 2 lakh/10 seconds. Co-presenting sponsors will pay the broadcaster Rs 5.2 lakh per 10 seconds of advertisement during IPL, while associate sponsors will pay Rs 5.75 lakh per 10 seconds.
In last year’s IPL, the broadcaster had raked in close to Rs 1,100 crore in advertising money, with 12 sponsors on board. SPN is confident that IPL 2017 will create a new record.
Sony has been IPL’s official broadcaster since the inception of the league in 2008. This is the last year of the 10-year rights cycle.