Latest news with #RiseWorldwide
Mint
20-05-2025
- Business
- Mint
Gen Z wants more than just cricket from sports entertainment, looks for authentic athlete engagement
As sports entertainment evolves, younger audiences—especially Gen Z (born 1997-2012)—are increasingly seeking real athlete stories and digital engagement beyond traditional cricket formats. Rise Worldwide, the sports management arm of Reliance Industries that manages athletes and media rights, among other things, is looking to capitalise on this shift. Its non-cricket business, although small, has been expanding sharply over the past two years, Nikhil Bardia, head of Rise Worldwide, told Mint while explaining how companies are adapting to new fan behaviour and the growing demand for sports content beyond cricket. The company, which manages about a dozen top cricket stars including Rohit Sharma and Hardik Pandya, also has merchandising and digital advertising divisions. Its non-cricket vertical has grown from 5-7% of revenue a few years ago to almost 11% now. Also Read | India's sports economy inches closer to $2 billion as endorsements, emerging sports fuel growthRevenue from football, Olympic sports, gaming, and lifestyle collaborations have risen by about 50% over the past two years, Bardia said. In March, the company tied up with Manchester City to represent the Premier League club in India, aiming to build brand tie-ups and expand its local fanbase. Last year, it teamed up with Blast Esports, a company that organises e-sports events, to launch a joint venture to develop e-sports in the country. Rise Worldwide, which competes with JSW Sports, among others, is building partnerships with organisations across football, rugby, and Olympic disciplines and has teamed up with tyre brand BKT, which sponsors La Liga and Six Nations rugby. It has also helped IndusInd Bank enter the Paralympics advertisers, Bardia said, now want to be more immersive and experience-led when it comes to their fans and don't just want to rely on regular advertising. 'We understand the fan landscape well now and can identify unique opportunities across different sports and formats," he said. Changing consumption Bardia added Gen Z's changing content consumption habits are central to this evolution. 'Digital-first fandom is what fans now engage in. They primarily follow and interact with sports through online platforms and social media rather than traditional media. They want to connect with athletes as people, not just as players," he digital shift has also influenced the way brands approach sports marketing. 'Modern sports fans are savvy – they can tell when a partnership is forced or purely transactional. Brands want to tell stories that resonate on a human level—not just logos on jerseys," he said. Non-cricket sports are still gaining traction in India, though. According to GroupM's recent report Sporting Nation, Building a Legacy, released in April, viewership and engagement for these sports remain in the early stages and do not yet command advertising rates comparable to cricket's prime-time events. Also Read | How much it costs to pursue a career in sports in India Overall sports sponsorship grew 6% year-on-year, exceeding ₹16,633 crore last year. Athlete endorsements reached a record ₹1,224 crore in 2024, up 32% from ₹927 crore in 2023, driven not only by cricket but also by emerging sports, with stars Neeraj Chopra, PV Sindhu and Manu Bhaker leading a 46% rise in non-cricket endorsements. The Olympic momentum boosted sponsorships for emerging sports, which rose 19% to ₹2,461 crore from ₹2,065 crore in 2023. Distance running alone accounted for a quarter of this market. Cricketers, athletes as partners Cricket, however, remains the biggest contributor. A major shift is in the way athlete-brand relationships are structured, Bardia added. Increasingly, players are not just endorsers—they are co-creators and equity partners. 'We are encouraging our players to move from simple endorsement deals to equity partnerships and strategic investments to ensure there is continuity with fans and, of course, a legacy of the athlete that can be carried forward," Bardia said. Sports events and team rights owners are also moving away from one-off deals in favour of long-term brand partnerships, added Bardia, which help build fan loyalty and ensure sustained value for both parties. Also Read | Sports in 2024: A year of promise fulfilled and a reset for the futureBowler Jasprit Bumrah is involved in designing travel gear with luggage company Uppercase where they're creating a brand identity together. Cricketer Shreyas Iyer's tie-up with fashion label Huemn merges his interest in sports and street-style clothing. Recently, cricketer Hardik Pandya co-created performance wear with streaming platform FanCode based on the gear he actually trains with. Indian ODI team skipper Rohit Sharma partnered with Marico-owned True Elements to launch his co-owned breakfast and snack brand, RS by True Elements, last October. Rise Worldwide continues to expand its digital ad inventory in cricket, managing virtual advertising rights for the England and Wales Cricket Board and working with Cricket Australia. In financial terms, Rise Worldwide reported revenue of ₹158.7 crore in FY24, a 14.6% increase from ₹138.5 crore in FY23. Profit after tax rose 88% to ₹23.11 crore.
Time of India
07-05-2025
- Business
- Time of India
Cricket's commercial landscape evolves as virtual inventory gains momentum
Virtual inventory technology is transforming cricket advertising, with Cricket Australia and the ECB partnering with Rise Worldwide to offer digitally inserted brand elements during live broadcasts to target Indian audiences. This approach provides a less cluttered space for brands like BKT and Hero MotoCorp, allowing focused engagement and reducing reliance on traditional sponsorships. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Virtual inventory technology is slowly transforming how brands engage with cricket audiences, say industry executives. Cricket Australia and the England and Wales Cricket Board (ECB) have partnered with India's Rise Worldwide to offer virtual inventory to Indian brands, with other boards likely to follow based on their commercial in India by Rise in 2021, virtual inventory sits between on-ground advertising and broadcast sponsorship, with brand elements digitally inserted during live broadcasts . The technology is provided by Australia-based Broadcast Worldwide has sold virtual inventory to brands such as BKT, Hero MotoCorp , EPCO, and MakeMyTrip for the India vs England Test series scheduled for June and July. Another deal is expected to be finalised ahead of the series with one slot out of the six up for the past, Indian brands had limited ways to reach home audiences during India's tours to England—mostly through kit sponsorships or LED boards. These often resulted in wasted visibility, as they were seen by global audiences, said ECB chief commercial officer Tony Singh.'We also have sponsors in the UK looking to enter other markets, and this provides a way to do that. It's incremental and supplementary,' Singh Worldwide's head, Nikhil Bardia, said virtual inventory allows brands to engage with viewers in a more focused way. 'It offers a less cluttered space within live content, especially given the interest in the tournament and the participating brands,' he year, the ECB is considering adding promotional content and direct fan messaging to its inventory.'Our goal is to develop a long-term, strategic relationship with Indian fans. We're taking a more sustainable approach, rather than chasing short-term revenue in ways that may not benefit the fan experience,' Singh are using several measures to evaluate the impact of virtual inventory, including content association, screen visibility, and marketing outcomes such as awareness and customer noted that this technology has already reduced the demand for physical sponsorships from Indian brands focused on local Indian viewers. "But there are some Indian brands for whom the local cricket market is a natural ingredient to their core business," he said, citing the example of ECB and Rise plan to expand the use of virtual inventory gradually, with a focus on maintaining a good viewing experience. Currently, the placements are limited to areas like behind the wickets, and potential expansions are reviewed from time to virtual inventory could be extended to women's cricket amid rising interest in the format, and may also be considered for tournaments like The Hundred. The two are working to strengthen relationships with brands in the Indian market by offering both virtual and pure digital inventory, along with player IP and access.
Mint
03-05-2025
- Business
- Mint
Fourteen and fearless, Vaibhav Suryavanshi's record-breaking ton sends marketing world into overdrive
Baby-faced batsman Vaibhav Suryavanshi of Rajasthan Royals, all of 14, launched a stunning assault on Indian Premier League title contenders Gujarat Titans' bowlers this week, marking the arrival of a new superstar in the country's most popular and commercially viable sport. As Suryavanshi's blazing century in just 35 balls sent the packed stadium in Jaipur into a frenzy, talent managers' phones began buzzing as brand marketers explored early deals. His performance also raises the question whether the youngster from Bihar will follow in the footsteps of several illustrious predecessors in the parallel arena of brand marketing to sell everything from colas to suits. The opinion is sharply divided. While some warn of early burnout and urge caution and patience, others have started to think of tactical deals. 'We're seeing significant brand interest in Suryavanshi, driven by his current sensational performance," said Nikhil Bardia, head of Rise Worldwide, the talent management and sports marketing arm of conglomerate Reliance Industries, adding that most brands are approaching this as a tactical opportunity for the short term. Also read: Hyatt eyes emerging cities for its next 50 hotels in India 'As he evolves and develops a more defined personality, we expect his value proposition to shift toward more strategic partnerships," Bardia said. 'He is 14 and fearless," said Vinit Karnik, managing director at GroupM and head of its integrated sports, entertainment and content verticals, adding that brands will watch his growth trajectory very closely and echoing Bardia's point on tactical deals while noting that the smart thing to do now may be to let him enjoy the moment from a sporting perspective. 'He's making the right noises and is quite measured in his interviews. What events he turns out at, how he conducts himself on the field in terms of his performance and off the field, all of that will be noticed," Karnik added. Some others are being cautious—especially those who've seen several young stars fade away into oblivion after a quick rise. Also read: How Mhow, Silvassa and Rewa emerged as hotspots for Indian hotels 'It's too early in his career trajectory," said Harsh Talikoti, senior vice president at Houlihan Lokey, who advises companies and talent on brand valuation. 'This is his first season. He came into the limelight only recently and there have been some one-season wonders in the past. It's hard to assign a brand value at this point." There are also legal and personal considerations. As a minor, Suryavanshi's ability to enter into commercial agreements may even be restricted by contractual regulations and perhaps even by his own priorities. 'Whether he wants to monetize his brand now or focus on sport will be a personal and strategic decision," Talikoti added. 'Virat Kohli, for instance, was 17 or 18 when he signed a five-year deal with Nike. There have been very few such long-term contracts signed this early in a player's career in India." Globally, the landscape is shifting though. In the US, college athletes have begun capitalizing on their 'name, image and likeness" rights—a legal framework that allows them to earn from endorsements, while retaining control over their personal brand. While such deals remain rare in India, Talikoti does not rule out their emergence, especially in a sport like cricket where young talent is increasingly thrust into the spotlight. 'I'm pretty sure he will sign with an athleisure or sportswear brand," he added. Also read: How Sotheby's made it to the spotlight in India's art market Brand specialist Sandeep Goyal, chairperson of advertising agency Rediffusion, is more circumspect. 'Fame is very fragile; Vaibhav needs to make haste slowly," he said. 'He has potentially a 25-year runway ahead of him. There should be no rush to sign up brands. There will be lots of opportunities. Cricket and commerce together could harm his nascent career." A report from global investment bank Houlihan Lokey, titled IPL Valuation Study 2024 , had assessed the Indian Premier League's performance last season both as a business entity and a brand. According to the study, the IPL's overall business reached $16.4 billion (approximately ₹ 1.35 trillion) in 2024, reflecting a 6.5% growth compared to the previous year. IPL's standalone brand value also saw a similar rise of 6.3% in 2024, reaching $3.4 billion.
