ed-tech, esports & IPL
Posted on 31st Aug 2020
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The Indian Premier League (IPL) is not only a sporting and entertainment event but also the biggest festival for advertisers and marketers of every hue.
In its decade-long journey, IPL has managed to catch the fancy of brands in a way that has no parallel. And marketers go to great lengths to find a berth in this yearly extravaganza that guarantees loyal audiences and builds brand recall in a matter of months.
Every new category and brand that wants to stand out amid the cacophony of ad-jingles and activations now depend on IPL for its unmatched visibility and impact.
The flavour of the IPL season is digital-first players, especially ed-tech and esports platforms that are betting on the game to work its magic for them. From Dream11 to BJYU'S to Unacademy, digital-first companies have collectively pumped in over Rs 400 crore in sponsorships so far.
Explaining this unprecedented spending by digital-first brands this year, noted sports journalist, academician and author Boria Majumdar, says that fantasy platforms and digital education companies are leading investors because there is a real shift in these sectors and there is enormous potential in education and fantasy sports that is now being realised.
“Be it BYJU'S or Unacademy or fantasy players, that’s the core of advertising at the moment. Post pandemic, the impact of this trend will be great because with the conventional firms also coming back, there will be a better market for the sport," said Majumdar.
“Over the period of 10-12 years of IPL, it has been like that. Lead categories have been varying over the years. It used to be telecom, auto, finance, e-commerce, and now, ed-tech, gaming etc. IPL provides the best opportunity for brands to build rapid awareness and massive reach over a concentrated period and based on the life stage of brands they see significant value in IPL. It helps them with scale and imagery, which is what they may be after”, explained Sundar Raman Sports Advisor & Consultant Formerly CEO Sports - Reliance, COO IPL and MD MindShare.
The rise of digital-first companies as big sponsors in this IPL season has also to do with the ongoing market sentiment where digital-first is also the approach adopted by consumers across categories.
With schools/colleges and tuition centres shut for close to 6 months now and with no mega sporting event taking place either, ed-tech and sports platforms have got an ideal environment to thrive. Now all they need is a big push to cement that brand connect. And with IPL having done this for many brands, ed-tech and esports are now looking for similar results and dont mind shelling out big dollars.
Also, digital businesses are also the most vulnerable businesses and they have an early to rise and early to fall tendency, so building that lasting connect is the need of the hour and IPL can do that.
According to Charu Sharma, Director Mashal Sports and popular sports Commentator, in the digital universe, there are billions of items floating around desperately seeking attention and the new age/digital businesses are the ones who are receiving mountains of funding at this time.
“They are doomed if they can’t break out of the clutter. Which is why the digital enterprises are turning out to be big advertisers. And the high potential visibility and attention received by IPL, as well as the high-cost barrier, makes it an ideal playground for the well-funded digital enterprises.”
Speaking about how legacy brands have lost to digital-first players in this IPL season, Sharma added: “Legacy brands, as well as other regular consumer brands, who were the usual suspects on TV during the IPL, are struggling to cope with the terrible economic tsunami caused by Covid. Perhaps, high-cost advertising does not fit into their recovery strategies. Add to this, the pullback by major Chinese telecom brands. Also remember, legacy brands belong to companies that depend on long term strategies and budget decisions are taken well in advance. The long delay in confirming IPL dates may not have suited them.”