MSLGROUP India has launched their latest executive report ‘Brand IPL: Still a Smash Hit?'. The report takes a look at the Indian Premier League (IPL) - season 5 of which is scheduled to start on 4 April, the controversies the brand has weathered, the challenges and opportunities that lay ahead for the brand, its sponsors and advertisers.
The challenges the report consists of are costs, controversies, falling TRPs, advertising rates and the overdose of cricket.
The opportunities the report brings out includes advertising benefits, sports sponsorship work, integrated coomunications approach and a cricket fan's short memory.
The report says that despite various high profile corruption charges, the IPL is still valued at more than $3.5 billion, according to Brand Finance, a UK firm specialising in brand valuations. By its second year, Lalit Modi, ex-Commissioner of the IPL stated that the IPL was thought to be the fifth largest sports brand, just smaller than FIFA and bigger than Wimbledon and F1.
Commenting on the report, Jaideep Shergill, chief executive officer, Hanmer MSL and member, MSLGROUP India Management Board said, “Launched in 2008, the IPL was a huge success, hitting the advertising jackpot and capturing the nation’s attention. Its entertainment value combined with its marketing muscle changed the game forever. However, over the last two years, IPL has hit a few road bumps and as a result, viewership has taken a knock. Brand IPL is facing serious credibility issues, which the organisers must address quickly. Brand IPL report ‘Brand IPL: Still a Smash Hit? is an attempt to understand what marketers can expect and the opportunities that they can look to tap this season."
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