The Indian Premier League (IPL) shouts money, be it players’ auctions, telecast rights or advertising monies. Then there is capitalising on brand value to generate additional revenue from business verticals. From the obvious brand partnerships to apparel, memorabilia, sporting goods, physical spaces like cafes to NFTs, the franchises are making big bucks.
Showcasing diversity in its business portfolio with creative innovations that take fan engagement to the next level, Royal Challengers Bangalore (often abbreviated as RCB) recently launched ‘Hustle by RCB’, a subscription-based live and on-demand fitness solution product. Hustle is a consumer-first product that offers live group workouts, personal training, DIY workout programmes, and AI-based and personalised diet plans by expert nutritionists, among others.
“Our ambition is to be the best performing, most trusted and respected T20 franchise. Our endeavour is to make RCB a truly global lifestyle brand. This expansion in our business portfolio is the right step in the futuristic vision… We are very excited to unfold the future of the RCB brand world,” said Rajesh Menon, vice-president and head, RCB. The Bangalore-based franchise also recently unveiled the ‘2022 season team kit’ and an ‘athleisure collection’ in collaboration with sportswear manufacturer Puma.
In fact, RCB has been in the forefront of creating new business verticals. In December 2020, the team — owned by Royal Challengers Sports, a subsidiary of Diageo India — launched RCB Bar and Cafe in the heart of Bengaluru. Spread across 5,000 sq ft in 1 Sobha Mall, the place overlooks some of the major hotspots like Church Street, MG Road and is less than a kilometre away from the den of RCB – M Chinnaswamy Stadium.
Late last year, IPL team Rajasthan Royals (RR) set in motion India’s leading sports and sports-allied professional education platform, the Royals School of Business (RSB). Soon thereafter, it launched an online programme on ‘leadership and performance’ in collaboration with business school INSEAD. The programme was conducted by INSEAD faculty, which imparted knowledge and shared experiences to help executives adapt to the challenges faced in the fast-paced digital era.
Jake Lush McCrum, CEO, Rajasthan Royals, spoke on the collaboration, “We have a passion for talent development both on and off the field and I hope some of the individuals completing these courses will join the RR management team in the future.” Besides RSB, RR also owns and runs several cricket schooling facilities called Rajasthan Royals Academy across several cities in India and abroad including the UAE and the UK.
Meanwhile, Kolkata Knight Riders (KKR) has launched its new IP ‘Galaxy of Knights’, which has the 3D digital superhero avatars of all its star players. “We have plans in making the IPL experience come alive for the fans and making it more engaging and exciting in the years to come. For this year, we have various activations, screenings, and promotions with various partners in Kolkata,” said CMO Binda Dey of the franchise owned by Bollywood actor Shah Rukh Khan, actress Juhi Chawla and her spouse Jay Mehta. KKR has been actively following the digital space and is willing to check out even non-fungible tokens (NFTs) for the team or players. “We are waiting to see how this space pans out in Indian sports,” added Dey.
Indian brands are waking up to the reality that in sporting events, fan engagement is year-round and the majority of the fans have some form of interaction with their favourite team in the off-season. A Deloitte study on year-round fan engagement found that 95% of the fans today have some form of interaction with their favourite team or league in the off-season and say a great “year-round experience” would make them more likely to be more engaged with the team in the coming season.
Taking the cue, Indian-made craft beer Bira 91A has signed a five-year-long partnership with JSW-GMR co-owned Delhi Capitals, which will involve a host of unique activations and curated offerings enabling consumers to celebrate their love for cricket and beer. “Be it on the field or off, Delhi Capitals is always determined to push the envelope and explore new avenues,” said Vinod Bisht, interim CEO of Delhi Capitals.
Chennai-based Chennai Super Kings (CSK) is also betting big on this season’s IPL and has announced the extension of its association with SNJ Group, an Indian conglomerate with diverse interests in industries across a wide spectrum, as sponsor for the next three years (2022 to 2024). The partnership involves a marketing budget of R40 crore for three years for the SNJ Group. KS Viswanathan, CEO, Chennai Super Kings Cricket Ltd, said, “The partnership has been fruitful, and we are confident the next three years will be even more exciting. The extension of the association is another step forward in our long and successful journey.”
With inputs from Rajesh Ravi in Kochi and Mithun Dasgupta in Kolkata
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