India’s sports activities business clocked a progress of 11 per cent recording a complete income of ₹15,766 crore in 2023 over 2022, as per a report launched by GroupM ESP. The revenues embody sponsorships spends, media spends and endorsement charges. Almost 87 per cent of the sports activities business’s revenues got here from cricket amounting to ₹13,701 crore in 2023, up 13 per cent.
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Sponsorship spends surged to ₹7,345 crore in 2023 up 24 per cent over 2022 primarily pushed by a major enhance in franchise charges indicating the robustness of India’s franchising ecosystem led by IPL and WPL, the report titled, ‘Sporting Nation – Constructing a Legacy’ famous.
However, total media spends on sports activities had been nearly flat and stood at ₹7,494 crore in 2023 (down 1 per cent over 2022). This was as a result of components corresponding to robust enterprise atmosphere and inflationary pressures resulting in muted spending by advertisers throughout sports activities in addition to non-sports genres.
Speaking about advert spend tendencies in 2023, Vinit Karnik, Head-Sports activities, e-sports and leisure, Group M stated, “Digital advert revenues grew 40 per cent as all IPL matches and lots of Cricket World Cup matches had been obtainable without cost on OTT platforms, as towards the earlier season, the place they had been behind a paywall.” He added that IPL rights being break up in digital and TV between two media homes led to a ‘plateaued progress for the 2023 season’ amid a smooth promoting atmosphere. However, he added that the Cricket World Cup promoting offered a lift to advert spends final yr.
When it comes to IPL advert spends alone, whereas TV advert spends declined 17 per cent, digital advert spends grew by over 25 per cent in 2023. The report additionally famous that OTT platforms are taking part in a key position in reworking the sports activities consumption patterns.
In the meantime, sports activities celebrities earned a complete of ₹927 crore in endorsement charges in 2023 up 24 per cent, the report added.
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“Indian sports activities business, hovering from about ₹2,400 crore in 2008 to over ₹15,000 crore in 16 years, displays the elevated standing of sports activities and the fast-evolving sporting tradition in India. This highlights the sports activities business’s enlargement in addition to commercialisation and its rising affect on the worldwide stage. From being a sporting nation within the making, we are actually marching in direction of constructing a legacy on this subject,” Karnik famous. He added that whereas cricket dominates, India’s robust efficiency in numerous global-level sporting occasions, alerts a ‘vibrant multi-sporting future’ for India.
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