Swiggy eyes on-ground sponsorship deal with BCCI for IPL
Currently, Tata Safari, Dream11, Unacademy, Cred, and Upstox are BCCI's official partners for IPL
Online food ordering and delivery platform Swiggy is all set to become the sixth official on-ground sponsor of the Indian Premier League (IPL), two people aware of the development told exchange4media.com. Currently, the Board of Control for Cricket in India (BCCI) has five official partners for IPL including Tata Safari, Dream11, Unacademy, Cred, and Upstox.
"Swiggy has signed on as the sixth official partner of the IPL," said one of the persons quoted above. Another source said that the deal is worth Rs 35 crore for one year. Queries sent to Swiggy on the development remained unanswered till the time of filing this report.
For Swiggy, IPL has been a key property to build awareness and acquire new users. In the last three years, it has made heavy marketing investments on IPL through TV and digital sponsorships. For the 2021 season, it was one of the sponsors on Disney+ Hotstar for the IPL webcast. It had also partnered with Royal Challengers Bangalore (RCB) team for IPL 2021.
Experts say that the on-ground sponsorship will allow it to build 360-degree connect with IPL fans across multiple touchpoints.
According to financial data accessed by business intelligence platform Tofler, Bundl Technologies, Swiggy's parent company, had spent Rs 1034 crore on advertising for the fiscal ended 31st March 2020 compared to Rs 776 crore in FY19.
The company reported a 115% jump in revenue at Rs 2,776 crore for the fiscal year under review. The company's net loss widened by 61% to Rs 3,768 crore during the same fiscal. The company’s total expenses for the fiscal were Rs 6,545 crore.
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