In India, Sony Network has bagged broadcasting rights. As per the olympicsvenue.com sources, Sony had bagged broadcasting rights for close to $17-18 million. After such a huge investment, the question was will Sony be able to profit from the deal? But it seems that Sony is bringing in the sponsors for the Olympics.
As per recent reports, Sony has bagged 11 sponsors for the Tokyo Olympics broadcast. According to the olympicsvenue.com analysts, it is estimated that these sponsors will bring around 100 crores in ad revenue.
Since the Tokyo Olympics, originally scheduled in 2020 was postponed, the talks of companies showing less interest in sponsorship began. But the actual picture seems to be different worldwide. Coca- Cola, Amul, Hero Motocorp, JSW, and MPL have come on board as co-presenting sponsors for Tokyo Olympics 2021. While Association of Mutual Funds in India (AMFI), RBI, Visa, Lenevo, Byju’s, and Herbalife Nutrition are associate sponsors for the event. As per few reports, Sony will close more deals before the 23rd of July when Olympic Games open.
Rohit Gupta, SPNI Chief Revenue Officer – Ad Sales and International Business said that it has been a good year and Sony received a great response for Euro 2020, Copa America. A similar response is expected for the India v Sri Lanka and Olympics.
The official statement of Rohit Gupta read,
Many advertisers are now looking at sports as a medium to catch the country’s youth because the engagement level with the youth for sports is much higher. Also, this the one segment which is hard to catch on television otherwise. We have got a fantastic response from advertisers for Olympics since India is doing well in different sports. We have already signed up sponsors like Coca-Cola, Amul, MPL, etc, and are in discussion with more.
As per few reports, the advertisers are paying somewhere between 5-8 crores depending on the sports and duration of the advertisement.
Ind vs SL schedule overlap Olympics
India and Sri Lanka series was supposed to finish before the Olympics kicks in. But due to covid issues, the series got postponed and now two matches scheduled for 23rd July and 25th July will clash with the Olympics. Sony has roped in more than 15 sponsors for Sri Lanka vs India series.
The 2021 Tokyo Olympics will be streamed live in India on Sony TEN 1, Sony TEN 2, Sony TEN 3, Sony TEN 4, and Sony Six. The games will be also streamed live on their online platform – SonyLIV.