The Indian Premier League (IPL) has finally been suspended indefinitely after many players tested COVID-19 positive. But start-ups have to settle half the traction. Spend some minutes to know more about it….
IPL suspended indefinitely
After much criticism, the Indian Premier League (IPL) has finally been suspended after many players tested COVID-19 positive. And left midway are startups that had doled out large sums of money on sponsorship deals for the cricketing league.
Startup advertised heavily
As it was one of the biggest sporting events being held in India, startups in the country had pounced upon the opportunity to advertise. But now, with IPL being stopped mid-season, the companies will have to settle for half the traction.
Edtech platforms alone contributed to 15% of the total ad revenues for IPL, as per reports.
Blow to start-ups
This also comes as a big blow for fantasy gaming startups like Dream11, Mobile Premier League (MPL), for whom IPL is one of the biggest business seasons. As per reports, when Dream11 had bagged the title sponsorship rights for the 2020 season, it had paid as much as Rs 222 crore.
How much sponsorship costs
As per reports official sponsor has to peg Rs 210 crore, umpire sponsor fee is Rs 28 crore and strategic timout sponsor is Rs 30 crore and title sponsorship is Rs 440 crore. More ad space in the front of the team jersey is around Rs 15-25 crore, back jersey is 7-13 crore, shoulder of the team jersey is 1.5-3 crore and ad space in the front of the helmet is 2-14 crore.
Bio Bubble goes burst
The VIVO IPL 2021, which started on April 9, was scheduled to go on till May 30. However, it has come under much scrutiny as India is in the midst of a gruesome second wave of the COVID-19 pandemic, with the death toll rising each passing day. Amidst the grim situation, experts said that celebrating a cricketing tournament, which had also reported breaches of the bio-bubble, was wrong.
Keywords: chalgenius, start-ups, Indian Premier League, IPL, BYJU, Dream 11, Start-up
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