IPL Team Sponsorship Crosses ₹ 500 cr mark this year: GroupM’s ESP Properties
ESP Properties, the entertainment and sports division of GroupM, cited that the IPL 2020 sponsorship crossed the ₹ 500 cr mark this season. IPL finally made its comeback a little later than the usual schedule, causing a storm within the sponsors, fans and players. Even though the pandemic has seen a direct impact on the sports sponsorship market, IPL continues to carve a niche for itself in India while also keeping its fans engaged.
The current position at which IPL stands is quite strong considering how the pandemic has taken a toll in India. This year ESP properties, being at the forefront, helped multiple brands in different categories close deals for IPL, some of them include; Paytm, Colgate, Myntra, Lifebuoy, Cadbury Dairy Milk, Clear Shampoo, Acko Insurance, MPL, Center Fruit and Tata Tea – Chakra Gold amongst others. IPL 2020 has showcased that it is pandemic-proof with the number of brands coming on board for sponsorship.
Vinit Karnik, Business Head, GroupM ESP Properties said, “Sport is a universal language that connects everyone. While Cricket in the country returned with IPL – India welcomed it with a tremendous fervour despite the games being delayed and in a ‘no-live audience’ scenario. GroupM played a pivotal role in closing central and team sponsorships deals this year which goes to show that in a pandemic like this, brands have leveraged IPL to communicate their brand stories in the best way possible. With the heartfelt connection that our country has with the IPL phenomena, the fans made sure that they loyally and virtually welcome the games making sure that COVID-19 does not impact their vibe.”
Despite the slowdown, backed by its growing presence IPL continues to attract strong consideration from advertisers and add to the year on year growth of the sports business industry.