IPL 2023 ad revenue hits Rs 10,000 crore mark
Rs 6,500 crore, was earned as direct revenue by the BCCI, franchises, and broadcasters and the remaining 35 percent was earned as indirect revenue
ADVERTISEMENT
The 2023 Indian Premier League (IPL) clocked Rs 10,000 crore in advertising. Of this, Rs 6,500 crore, was earned as direct revenue by the BCCI, franchises, and broadcasters and the remaining 35 percent was earned as indirect revenue by social media platforms, traditional media, and other internet platforms.
The direct revenue was earned through a variety of channels, including TV commercials, online ads, and sponsorships. The indirect revenue was earned through a variety of channels as well, including social media engagement, news coverage, and search engine traffic.
According to a recent report by consulting firm Redseer. Star Sports and Jio Cinema together earned closed to Rs 4,700 crore as advertising revenues, while franchises earned about Rs1,450 crore and the BCCI made Rs 430 crore.
While the report does not highlight how much TV and the steaming partner made independently from advertising, the increasing popularity of streaming services in India pushed not just the reach but also ad revenues for the platform during IPL 16.
The platform recorded the highest-ever number of advertisers on TATA IPL with JioCinema having more than 13 times the number of advertisers on broadcast TV. 6 top brands partnered with JioCinema for their digital streaming of TATA IPL 2023, including (Co-Presenting Sponsor) Dream11, (Co-Powered) JioMart, PhonePe, Tiago EV, Jio (Associate Sponsor) Appy Fizz, ET Money, Castrol, TVS, Oreo, Bingo, Sting, AJIO, Haier, RuPay, Louis Philippe Jeans, Amazon, Rapido, Ultra Tech Cement, Puma, Kamla Pasand, Kingfisher Power Soda, Jindal Panther TMT Rebar, Saudi Tourism, Spotify and AMFI.
