IPL 2020 could still gain ₹700 crore from Chinese brands advertising in it: Report

India-China relationship has perhaps reached its lowest point ever in past few weeks. As many as 20 Indian soldiers lost ir lives in a cross-border fight with Chinese army. incident gave rise to a huge turmoil and people from all over country called for banning Chinese products.

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IPL sponsors: Chinese brands planning to spend ₹700 crore on advertising in IPL 2020

According to some reports recently, BCCI retained VIVO as title sponsors for IPL 2020, which was anunced after IPL Governing Council meeting on Sunday. IPL 2020 sponsors VIVO has been paying ₹440 crore annually as IPL’s title sponsorship fee since 2018. IPL VIVO deal was done in 2018 for being title sponsor of IPL for 5 years. 

However, as of Monday, BCCI confirmed to Republic World that VIVO has pulled out of deal this year with BCCI and would only return as its title sponsor in 2021, perhaps reacting to extreme social media pressure with IPL brand being under threat. According to a MoneyControl report, BCCI might have to w settle for ar sponsor paying just ₹250-300 crore for rights for just one year.

In ar development, it has been learnt that despite IPL VIVO deal snapped for 2020, several Chinese brands are all set to spend a hefty amount on advertising during IPL 2020. se Chinese brands are planning to spend ₹700 crore on ads as IPL sponsors. According to estimates of media buyers, numerous Chinese smartphone brands spend a lot of money on cash-rich league to advertise ir products. Brands such as Oppo (which is co-incidentally owned by same parent company as VIVO), Xiaomi, Realme, and OnePlus take up premium ad slots, spending more than ₹500 crore of on-air advertising money throughout tournament.

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While speaking to Livemint, Sandeep Goyal, chairman, Mogae Media, a Mumbai-based marketing and communication ncy said that Chinese brands were quite visible recently on  Kapil Sharma Show as it returned to screen after lockdown hiatus. According to Goyal, Chinese mobiles will advertise during  IPL 2020 too. He added that Chinese brands account for a substantial chunk of advertising revenues that Star India is expecting. Goyal pointed out that ir spends contribute about 20-25% of total IPL revenues.

massive uproar for boycotting Chinese brands hasn’t led to diminution of Chinese smartphones in Indian market because of immense advertising on online and offline platforms. India lockdown has made people realize importance of techlogy. mobile industry w claims that consumers will be more entitled to invest in such brands.

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Biswajit Dhar, who is a professor of trade at Jawaharlal Nehru University, reckoned that government needs to come out with a medium-to-long-term plans to reduce Chinese dependence in strategic areas such as pharmaceuticals and telecom. He added that separating from China has to be carefully done and it has to be a well thought out process and t a knee-jerk one.

Dhar reiterated that India’s ecomy right w is too dependent on China. He also said that sponsorship of IPL and taking loans from China-led Asian Infrastructure Investment Bank are areas where government policy “seems unclear". 

When will IPL start?

Ever since IPL 2020 was indefinitely postponed due to COVID-19 pandemic, fans started wondering 'When will IPL start? To answer 'When will IPL start' query, IPL 2020 will start on September 19 and go on till vember 10, which was anunced by BCCI after  Government Council meeting on Sunday. IPL dates haven't been anunced yet. However, IPL dates are soon expected to be anunced after BCCI's meeting with franchises.

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IM COURTESY: INDIAN PREMIER LEAGUE TWITTER