Mumbai Indians, the Indian Premier League (IPL) franchise owned by Mukesh Ambani, has seen a double-digit increase in sponsorship money, from the current cash-rich championship season. Indiawin Sports, a subsidiary of Reliance Industries that owns the Mumbai Indians, reported an income of Rs. 336.25 crore in FY21, down from Rs. 397.8 crore the previous year.
“We have seen significant double-digit growth in our brand valuation and sponsorship revenue this season compared to last year,” a Mumbai Indians official stated. “We continue to lead the chart in total sponsorship revenue and brand quality.”
For IPL 2022, the Mumbai Indians have signed 23 partners from various categories. Principal Partners are Slice and DHL, while Associate Partners are Marriott Bonvoy, JIO, and Astral Pipes. Kingfisher, Usha, Dream11, Meesho, Cadbury, McDowell’s, BKT, Amul Kool, ESA (Reliance Foundation), Radio City, and Fever 104 FM, are among the franchise’s official partners.
The organization feels that good on-field performance, as well as team values, strong brand appeal, and fan connection and engagement, are essential elements in increasing revenue. Many of the team’s partners have connections with well-known global sports companies such as Manchester United and the Mercedes F1 team, to name a few, which speaks eloquently about the commercial program we have developed at MI over the years, opined a spokesman.
The representative added, that digital engagement has always been on the rise, as marketers seek models that will help them drive bigger fan activations. The team has also seen several brands that are digital-first, meaning they’ve invested extensively in the digital media from the start to stay active and reach their customers and followers.
Because of the limits imposed by Covid-19, the franchise has established initiatives such as Virtual Wankhede and MI Live to communicate with its fans. It’s also putting more emphasis on alternate revenue streams, as gate revenue has been hit hard by the pandemic.
“As a franchise, we’ve always thought that non-traditional connections may help us generate additional economic potential. Year after year, we are entirely committed to increasing merchandise sales. We continue to increase revenue through content collaborations, and this year we created “MI SHOP,” a site that houses all of our official MI products. We continue to monitor new-age spaces based on Web 3.0, such as NFT and Fan token and will go forward once we determine the best strategy for us, as we regard this as a long-term commitment to our fans that must be developed correctly” added the spokesperson.
The Mumbai Indians, according to a spokesperson, engage with an estimated 30 million followers throughout the year through various digital content efforts.
MI Live, the team’s fan-led digital show available on major social media platforms, aims to give the “Paltan” a chance to vent their opinions and show off their passion in a relaxed and pleasant environment. Through material, digital, and on-ground activations, the team hopes to strengthen the link between the team and the supporters during the off-season.
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