Jio’s aggressive reach target of 500 million may encourage greater digital engagement with this tournament and drive users towards Jio services.
Jio has also provided consumers with other content which should increase consumer dwell time.
Economic Impact
IPL generates considerable revenues through sponsorship and advertising revenue streams as well as stadium stalls. Teams also benefit financially through revenue share payments generated from broadcasting the tournament live as well as prize winning, with this income divided up and shared among themselves and BCCI.
Sponsors and advertisers of IPL ads have an unparalleled chance to reach an enormous cricket-loving audience through television broadcasts and online advertisements, providing sponsors and advertisers with a valuable way of connecting with cricket fans worldwide. As a result, this event has become an essential source of income for local businesses and communities.
IPL owners have also expanded the IPL’s market reach by purchasing stakes in new leagues and international cricket events to expand its market reach, creating jobs and driving economic growth across India. Unfortunately, however, the IPL also faces several criticisms and challenges including financial instability, scheduling conflicts and negative environmental impact – issues IPL organizers must address to ensure its long-term success.
Social Impact
The IPL has revolutionized cricket into an enjoyable and captivating format. Fans now experience something unmatched by any other cricket game in terms of sports, Bollywood drama and cheerleaders – creating an unparalleled value proposition in the market that generates significant demand.
IPL has provided new opportunities for many businesses. From OTT services to food delivery apps, all kinds of businesses are experiencing increased sales during IPL season.
Apart from its direct business impacts, IPL has also had profound social ramifications. People staying indoors to watch IPL matches has affected leisure activities like cinema hall visits and live events; therefore many film production houses avoid releasing blockbuster films during IPL season.
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Environmental Impact
Indian Premier League (IPL) is one of the world’s biggest sports leagues but still needs to do much more when it comes to environmental sustainability. Now is an opportune moment for IPL organisers to include environmental responsibility as one of their key priorities.
Large sporting events can have multiple negative environmental effects, and lack of reliable data hinders efforts to plan and implement effective policies. Adopting climate tech and taking advantage of existing technological advancements are essential in rapidly and accurately measuring emissions from various sources to set goals, track progress, and select cost-effective solutions.
Rohit Sharma of MI is an outspoken proponent of numerous environmental causes and recently made waves by wearing shoes that read ‘End Plastic Waste’ during a match against RR – we hope more players follow his example and turn to renewable energy sources in IPL data centres, which could reduce carbon footprint by 10%!
Sustainability Impact
IPL matches generate significant emissions, with stadiums not always equipped to offset this impact. But in 2023 season teams will take steps to minimize their carbon footprint.
Brands can take this as an opportunity to highlight their sustainability initiatives, like when the team of RCB has designated April 23 as “Green Game.” By doing so, fans are invited to join them in supporting environmental protection.
RCB will wear green jerseys and take an environmental pledge as part of an initiative first implemented in 2011, which has become part of their annual calendar ever since.
IPL and its SLL structurer, Westpac Institutional Bank, undertook an exhaustive process to identify KPIs that address IPL’s hard-to-abate credit profile, while also ensuring its facility ratchets over time towards reaching net zero sooner rather than later – this requirement was “non-negotiable” according to Stratford.
