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IPL - The Business of Cricket in India

Aparna Dutt Sharma, Chief Executive Officer, IBEF

Apr 08, 2013 17:31

Cricket drives Indians like no other sport. In fact with 1.2 billion people with a median age of 24 years, it is undoubtedly emerging as one of the biggest markets for the sport. The cricket frenzy and the loyal following to the sport have attracted many marketers to tap this consumer. For instance, going by newspaper reports of PepsiCo’s bid of apparently INR 397 crore (US$ 73 million) for the title sponsorship for the recently–started Indian Premium League (IPL) for five years is one such example of the kind of investments companies are making in the business of cricket. It is also possibly the largest investment PepsiCo has made in India in the game.

The fact that Indian sports TV broadcasting segment is hugely dominated by cricket, contributing 85-90 per cent of the total TV sports advertising revenues speaks a lot of about the segment. The future for the sport looks equally exciting and formats like the IPL have only opened new avenues for marketers to woo the Indian consumer.