New Delhi: The impressive viewership generated by the Indian Premier League, or IPL, in its first three days has more advertisers looking for sponsorship opportunities on television. IPL’s broadcast partner, Sony Entertainment Ltd, or SET, had rounded off its list of on-air sponsors last week but the network reopened the gates to allow electrical goods manufacturer Havell’s India Ltd as another on-air sponsor on Monday.
Riveting: Bangalore Royal Challengers’ M. Boucher in action during the IPL match in Mumbai on Sunday.
According to Mumbai-based television audience measurement agency, TAM Media Research, IPL was seen by 12.5 million people in New Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bangalore on 20 April, the third day of the tournament. Its average viewership share during the first three days ranged between 4.97% and 8.21%.
“We added Havell’s to our list of sponsors today,” said Rohit Gupta, president, network sales and revenue management, digital and syndication, SET. While Gupta did not disclose the amount Havell’s paid, a media buyer close to the development said it could be between Rs18-20 crore.
Hyundai Motor India Ltd and Vodafone Group Plc. had paid Sony about the same amount for sponsorship rights. Havell’s will be the fifth co-sponsor after Max New York Life Insurance Co. Ltd, Godrej Appliances Ltd, Coca-Cola India Inc. and Citibank.
According to the same media buyer, prices of spot buys, or advertising time bought at the last moment, went up 75% on Monday. He said Sony sold its 10-second spots for Rs3.5 lakh on Monday, against Rs2 lakh initially. National Egg Coordination Committee, Castrol India Ltd and Blue Star Ltd are among those buying ad spots.
Both Sony and IPL were hopeful that prices would rise as the league progressed. Media buyers agreed there could be a last minute scramble to get on board. “Going by the excitement in the past three days, IPL ad spots are likely to go up to at least Rs5 lakh over the next few days,” said another senior executive of a media buying house.
-Priyanka Mehra
BSE, Reliance Capital plan spot gold market
Mumbai: Reliance Capital Ltd, the financial services provider controlled by billionaire Anil Ambani, plans to set up an exchange to trade gold for immediate delivery in India, the world’s biggest user of the precious metal.
Reliance Money Ltd, the retail broking unit of Reliance Capital, will partner the Bombay Stock Exchange Ltd, Asia’s oldest bourse, and the Bombay Bullion Exchange Ltd, chief executive, Sudip Bandyopadhyay, said on Monday. The spot market will start trading on an electronic platform in a month, he said.
The exchange will allow jewellers and investors nationwide to buy and sell the metal, as the fall in the US dollar and rising inflation increase its appeal as an alternative asset.
-Bloomberg
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