Star India is aiming to generate INR 1,800 crore from the Indian Premier League Season XI ad sales. Star India is working on the strategy to hit market for its first broadcast of India’s most precious sports league.
Star has acquired the global media rights for the IPL for an unprecedented INR 16,347.5 crore. The broadcaster is looking to garner close to Rs 1,500 crore from television ad sales and about INR 200-300 crore from advertising on its video-on-demand platform Hotstar.
Star India has altered the sales structure and a project focused ad revenue team has been nominated. Two vice presidents, Atul Gandhi and Vaibhav Goyal, head the team that will have six to eight managers. This team is empowered and will be responsible for the IPL-related ad sales, Economic Times’ Gaurav Laghate has reported, attributing the information to the industry and company sources.
In the previous season, the incumbent rights holder, Sony Pictures Networks India (SPN), had recovered over INR 1,300 crore from ad sales, while from digital Hotstar (as Star India had digital rights for the IPL then) had managed to earn close to INR 120 crore.
According to a top executive of a media agency, this team will effectively be responsible for revenues exceeding the total ad sales of Star Sports’ rest of portfolio put together. “Sony did a great job of selling IPL, and to better that, Star will have to start soon,” ET has quoted a media planner as saying.
Another media planner said that the clients will be in wait-and-watch mode. “The market is already abuzz, but clients will not start signing cheques just yet. Yes, IPL is a pioneering league and also the most successful one. But the return on investment is a worry. I can comment more once the rates are out,” he said.
This is the first time in the IPL history that India television, digital, and International television media rights will be with the same company.