homemarket Newsstocks NewsAnalyst lists these as the key beneficiaries of forthcoming cricket events
Analyst lists these as the key beneficiaries of forthcoming cricket events
Most of the IPL teams were doing a revenue of about ₹250-300 crore, which in FY24 will potentially move towards ₹500-600 crore because of the media rights, Karan Taurani of Elara Capital said.
Karan Taurani of Elara Capital, quick service restaurant (QSR) and beverages companies will have a strong first quarter in the next financial year due to the major cricket events.
Zomato could among a key beneficiary in terms of order volume.
“Indian Premier League (IPL) is something which we have got every year but this time we have got the T-20 World Cup in the month of June. The timing of the matches is very favourable at about 8 pm,” he said.
He doesn’t sees IPL providing a big delta in terms of numbers as it is an annual phenomenon.
Most of the IPL teams were doing a revenue of about ₹250-300 crore, which potentially in FY24 will move towards ₹500-600 crore because of the media rights, he said.
It is going to have a big positive impact in terms of profit after tax (PAT) for companies like United Breweries, Sun TV, RPSG Ventures as IPL has higher earnings before interest, taxes, depreciation, and amortisation (EBITDA), Taurani said.
According to Vinit Karnik of GroupM it is forward-looking and an optimistic 2024 from an IPL perspective.
“We have seen very constant growth within the IPL ecosystem from a commercial standpoint. 2024 is not going to be any different,” he said.
He estimated that in 2024, the central sponsorship will grow around 20% on a year on year (YoY) basis.
“From a Team sponsorship perspective, we expect growth of about 15%, which has been a steady growth YoY,” he said.
Women's Premier League 2024 (WPL) just got over. When asked about the WPL’s numbers, Karnik replied, “WPL this year saw a decent growth in advertising. We expect a steady growth of about 10-12% in WPL this year.”
According to Karnik, the support for WPL in terms of on-ground fans was encouraging with 50-60% occupancy in the stadium. “This comes on the back of a very strong Indian team in terms of women cricketers. They have done exceedingly well,” he said.
Angel One has signed a five-year sponsorship deal with IPL and will now serve as an Associate Partner of the league in the financial services category. Recently, they had also forayed into the wealth management business.
“The combined TV and digital reach of IPL would be around ₹800 million and with our spend, we expect to reach out to 500 million or 50 crore people,” said Prabhakar Tiwari, Chief Growth Officer of Angel One in an interview with CNBC-TV18.
He believes this is a good platform for the company to take the business to the next level.
The company paid about ₹400 crore for this partnership deal and each year is payable separately.
For more, watch the accompanying video
(Edited by : Shweta Mungre)
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