Star Sports Signs 15 Sponsors As IPL 2024 Kickstarts
The 17th edition of the Indian Premier League (IPL) commences today, marking the beginning of cricket action for fans across the nation. The tournament kicks off with a clash between Chennai Super Kings and Royal Challengers Bangalore at the former's home ground in Chennai.
Star Sports, the official broadcaster has successfully roped in 15 sponsors for the tournament.
Among the prominent sponsors for this season of IPL are Dream11, Asian Paints, Vimal, Thums Up Charged, Havells, Joy Cosmetics, Dettol, Harpic, Vanessa, Amul, Groww, Rupay Credit, HDFC PayZapp, Parle and Mondelez. These brands have joined hands with Star Sports to leverage the massive reach and engagement of IPL among cricket enthusiasts and viewers.
As per sources, the broadcaster is currently in the process of finalising agreements with a few more sponsors before the commencement of the first match.
In terms of sponsorship rates, Disney Star was seeking Rs 71 crore for co-presenting sponsorship and Rs 35 crore for associate sponsorship for HD channels. For SD channels, the broadcaster had set outlays of Rs 167 crore and Rs 83 crore for co-presenting and associate sponsorships, respectively.
Last year, JioCinema, the streaming partner of IPL and Disney Star engaged in a fierce competition to capture viewers' attention and advertisers' investments. However, both entities reportedly faced a decline in revenue due to the intense competition and sluggish market conditions. Market estimates suggest that Disney Star recorded revenue between Rs 2,000 and Rs 2,500 crore. Viacom18, another major player in the broadcasting space earned approximately Rs 1,800 crore during the IPL season.
