The fervor surrounding the ongoing Asian Games 2023 has led to a surge in sponsorship deals, with Sony Sports Network, the official broadcaster, in discussions with additional brands eager to participate in the sporting extravaganza.
Sony Pictures Networks India (SPNI) has already secured the support of prominent sponsors, including Hyundai, JSW, LIC, Limca Sportz, Paisabazaar, Ultratech, Amul, SBI, Panasonic, Parle Products, and RBI for this multi-sport spectacle.
For Sony LIV, SPNI’s digital arm, discussions are ongoing with multiple brands, reflecting the growing relevance of the Asian Games as a multi-sport event. Ranjana Mangla, Head of Ad Revenue at Sony LIV, emphasized the event’s increased significance, stating, “While cricket offers extensive reach, the proliferation of screens today means that each of us is exposed to two screens. With 650 million smartphones, 22 million connected TVs (CTVs), and a growing web and desktop audience, there is a significant opportunity to bring sports to every screen.”
Approximately 40 percent of Sony LIV’s revenue is derived from advertising. Notably, Sony Sports Network has already sold 90 percent of its TV and digital ad inventory for the Asian Games.
Mangla further highlighted the impact of digital platforms, citing the success of the recent series “Scam 2003” and the current Asian Games in the festive season. Multi-sport events have proven to be highly lucrative for Sony LIV over the past few years.
In Sony LIV’s overall ad revenue, sports claims a 40-50 percent share.
The 19th Asian Games has garnered significant interest from advertisers spanning various sectors, including automobiles, BFSI (Banking, Financial Services, and Insurance), beverages, consumer durables, and FMCG (Fast-Moving Consumer Goods). Sandeep Mehrotra, Head of Ad Sales at Network Channels SPNI, attributed this enthusiasm to the wide-reaching appeal of multi-sporting events across India.
Mehrotra underscored the evolving advertising landscape in India, which has shifted towards content-centric approaches. Advertisers are increasingly drawn to sporting events beyond cricket, aiming to align with meaningful and inspirational content while connecting with fans in smaller towns and becoming part of athletes’ remarkable stories.
Paisabazaar.com, one of the Asian Games sponsors, emphasized the importance of sports in its marketing strategy. Sachin Vashishtha, Chief Marketing Officer at Paisabazaar.com, stated, “We have always believed in leveraging the power of sports to take our brand to every household across towns and cities in India. Our association with the Asian Games aligns with our commitment to promoting sports and supporting athletes nationwide.”
SPNI has ambitious goals for the Asian Games, aiming to reach over 100 million TV viewers, up from 80 million in the 2018 edition, underlining the growing enthusiasm for the event.
As the sporting action unfolds, the Asian Games 2023 continues to captivate audiences, both on and off the field, thanks to the increasing support from advertisers and brands eager to be part of this momentous occasion.
