VIVO is back again as the title sponsor of IPL 2021. The mobile company has spent almost 1133 Crores on advertising in FY20.
70% of the money will go into two sports sponsorship, i.e. IPL & Pro Kabaddi League (PKL). However, according to financial data accessed by the business intelligence platform, the advertising budget of Tofler VIVO has decreased by 11.72% vis a vis FY19.
It was earlier reported that VIVO shells out 440 Cr annually for IPL Sponsorship & 60 Cr for the title sponsorship of PKL. This year they added another 250 Cr to activate these sponsorships. A total of 750 Cr has gone into sports activations and sponsorships.
Last year VIVO decided to exit the IPL Title sponsorship contract by selling the same to third parties. In IPL 2020, Dream 11 was the title sponsor. But in IPL 2021, the interested parties like Dream 11 & Unacademy have offered not up to their expectations. So VIVO decided to continue their stint in IPL 2021.
Nipun Marya, Director-Brand Strategy, VIVO, in an interview with PTI said, “Vivo is back as the title sponsor of IPL and that is very encouraging and exciting for us because IPL is the biggest property in India and is a perfect amalgamation of sports and entertainment, so we are looking forward to the 9th of April when IPL begins.”
However, now the big question is, will VIVO buy ON-AIR Sponsorship packages with Star Sports and launch new brands around IPL just like in the past? They have not confirmed anything regarding this yet.
