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In season of gloom, IPL to accelerate off-take of in-house consumables
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SME Times News Bureau | 09 Apr, 2021
The mega sporting event -- IPL 2021 -- is expected to
give an added support to the in-house consumable, advertisement as well
as e-commerce segment this season.
The BCCI-backed IPL draws its
financial muscle from millions of fans and followers along with
franchises who invest handsomely on players and branding.
It is counted as one of the most watched sporting events in the world. The IPL 2021 will be played in April-May 2021 in India.
Not
surprisingly, mobile handset maker VIVO returned after a gap of one
year to replace Dream11 as the title sponsor for IPL 14.
The company had signed a deal worth Rs 2,199 crore with BCCI for IPL's title sponsorship.
Besides,
this time around, the resurgence of Covid-19 infections, night curfews
and localised lockdowns will add more significance to the sporting event
for its fans and business opportunities for the select segments.
Notably,
Technopak Advisors' Chairman Arvind Singhal said the viewership of the
IPL is expected to be much higher this year which will benefit
franchisees and advertisers.
"Because of penetration of
smartphones, high-speed internet, that has dramatically improved since
the last IPL was held, we will see much better traction from the
viewers," he told IANS, adding that, it will add to the revenue of BCCI
and the franchisees.
In terms of increase in consumer demand, he
said that as food delivery demand has always been high during IPL, the
uptick this time would be healthy as people would not be able to watch
matches sitting at bars and restaurants.
Talking of the
restrictions and the night curfews across cities and states, Singhal
said: "All the restrictions put together are indirectly going to benefit
IPL."
According to Suman Chowdhury, Chief Analytical Officer
at Acuité Ratings and Research: "While the resurgence of Covid cases has
increased the risks of disruption to IPL 2021, online viewership is
likely to remain high and may continue to benefit the online food
delivery platforms which have been permitted to make deliveries despite
containment measures taken in some states."
Additionally, India
and RCB Captain Virat Kohli expects a healthy IPL viewership this season
due to the teams playing at neutral venues which will make the
tournament more competitive like last year, when it was played in the
UAE.
The IPL 2020 was the most watched sporting event last year in India.
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