“Today is a historic day in cricket as the bidding for teams of inaugural #WPL broke the records of the inaugural Men’s IPL in 2008! Congratulations to the winners as we garnered Rs.4669.99 Cr in total bid.”
“Let the journey begin,” commented BCCI as it finished with the auction for the first season of the Women’s Premier League in 2023.
The market value and the popularity of cricket leagues in India have kept increasing, and women’s cricket is now seeing the same trend. The first ever Women’s Premier League was organised in March 2023, similar to the years-old Indian Premier League. The tournament attracted immense interest from domestic foreign players, audiences in India and countries abroad, and businesses and sponsors at an international level.
What Does WPL Mean For Audiences, Cricketers, And Businesses?
The league meant different things to the cricketers, organising bodies, audiences, and businesses. To the women cricketers participating in the tournament, it was a lucrative opportunity and a rewarding platform for their talent and years of hard work. The organising body saw the Women’s Premier League as the opportunity to create another money-churning event besides IPL. It was another excellent tournament for cricket lovers to offer them the thrill of a twenty-twenty cricket match. A significant number of emotional sentiments were also attached to the WPL. For women cricketers and women in general, the tournament was a step towards increasing the role of the female gender in our economy.
However, For Tata Group, the Women’s Premier League turned out to be another opportunity to play an active role in the fast-developing economy of India. Tata Group has taken another step to boost its popularity and advertise its services by bagging the title sponsorship and securing the central spot at the chest of the jersey for all five teams. Tata Capital is looking to expand its share prices with this measure significantly. Moreover, with an active role in the Women’s Premier League, Tata Group has a chance to increase its recognition in new markets, target audience, and investors.
The frontline sponsorship in the Women’s Premier League means excellent potential benefits for the group. For a sound appreciation of the same, we need a good overview of the business opportunities in the WPL and the reasons why conglomerates and enterprises invest millions in sports tournaments.
Business Size Of Women Premier League 2023
Although the capital poured into the WPL was relatively low compared to the Indian Premier League, it is a substantial amount for a start and considering the viewership of women’s cricket today. The maximum expenditure limit for each team was set at Rs 120 million for the auction, while the broadcasting deal with Viacom 18 cost Rs 9.51 billion.
The five teams included many foreign players; the maximum individual earning was around Rs 32.9 million. Furthermore, the teams are estimated to earn Rs 150 to 200 million for sponsorship on the jersey and other requirements.
The tournament attracted huge viewership and became an extraordinary opportunity for sponsors like Tata Capital, Bank Of Baroda, Noise, H&M, and World Gold, among many others.
|TATA Group||Title Sponsor|
|Tata Capital||Chest Spot – Jersey Sponsor|
|Bank Of Baroda||Associate Media Sponsor|
|Hero Vida||Co-powered Sponsor|
|Other Key Sponsors||JSW PaintsWorld Gold CouncilH&M Apar IndustriesMPL Striker|
|Dream11||Official Fantasy Partner|
|CEAT Tyres||Official Strategic Timeout Partner|
|Amul||Official Beverage Partner|
|Sports 18||Official Broadcaster|
|JioCinema||Official Digital Streaming Partner|
|Lotus HerbalsAshok Leyland Dream 11 Sonata Software UshaMax Life InsuranceNutrizoe||Mumbai Indians|
|Kajaria CeramicsMia by TanishqDream11Vega BeautyHimalayan Face CarePuma||Royal Challengers Bangalore|
|JSW PaintsYatra.comGalaxy Basmati RiceSportsbuzz11NavyasaJoy Personal Care||Delhi Capitals|
|Ambuja CementSports Buzz 11CristosTata CapitalAdani GroupFortuneGopal Namkeen||Gujarat Titans|
|Patanjali Ayurved LimitedFrench Essence perfume Transworld||UP Warriorz|
Key Reasons For Tata Group’s Investment In WPL
Why do large companies spend hundreds of thousands of rupees on sponsorship or the streaming rights of significant sports tournaments? A sponsorship might look like little beyond digital marketing and advertising opportunity, but the real difference is what the companies do with it.
The key reasons why a conglomerate like Tata Group sees sports tournaments like WPL as an essential opportunity –
- People have valuable emotional connections attached to the sports tournaments, allowing the business to develop a great relationship through that road.
- The sports tournament reaches a target audience that usually consumes beverages, digital and telecommunication services, fashion apparel, etc.
- The tournaments attract national-level attention and can be streamed online anywhere and anytime.
- These events generate a massive share of voice and increase the brand’s visibility.
- The games have comprehensive coverage regarding the business partners, level of organisation and audience distribution and take products and services advertised to distant corners.
Potential Benefits For Tata Group
What does increased visibility mean for Tata Group in terms of its revenue, performance and share performances? What does this have in store for stockholders, investors, and businessmen associated with the group?
Increased visibility and customer recognition mean more engagement of the products and services of brands like Tata Capitals, Tata Motors, etc. The participation in international-level events elevates the brand’s popularity among retail investors and capital ventures, developing great faith among them. Positive impacts on revenues and profits answer these developments. A positive figure and reputation are destined to raise the share prices of Tata Capital, Tata Motors and Tata Technologies.
Tata shares prices are predicted to do well and rise in the months to come. Therefore, buying Tata unlisted shares is a must for retail investors, especially before the awaited Tata Technologies IPO. Therefore, don’t wait for the prices to surge, and make your investment today with Stockify!