Brands battle for mindspace as cricket carnival kicks off

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₹4,600 crore in 2022 to about ₹4,000 crore in 2023, with Star receiving a majority of the revenue, Mint had earlier reported. But this year too, advertising rates have been sluggish so far. Company budgets and other external factors like the general elections and the upcoming ICC Men's T20 World Cup in June have resulted in less spends on advertising for this season, said Sandeep Ranade, executive vice president and head of quantitative research division of Hansa Research.

“Most advertisers are concerned about whether they should use up their entire advertising budgets in Q1 or hold off till Q2 when the World Cup happens," he said. He added that while brands and sponsors or associate sponsors get high visibility, the data they have collected from the first two weeks shows that, as expected, it is Dream11, which creates advertising specifically for the IPL, that is the most recalled brand followed by Tata group's Tata Neu and Tata cars, according to research from Hansa Research. In the top 10 are also surrogate brand Vimal Elaichi and HDFC Bank's Payzapp, Rupay and AngelOne, which have replaced Cred in terms of spontaneous brand recall value.

There was also My11Circle, which was more prominent this year but is advertising a little less. “This year, the percentage of people watching the IPL on digital has also increased and we have observed that most of them are seen streaming them on their connected TV screens rather than on their mobiles," said Ranade. “In general, we have observed that TV and digital are at par this year, for now at least.