“We have signed a deal to manage virtual inventory rights with the ECB for the Ashes. Earlier, we had a deal with Cricket Australia (CA), which is again in process of awarding virtual inventory rights,” said Rise Worldwide Head of Sponsorship, Sales & Talent, Nikhil Bardia.
The company is assisting cricket boards in developing a new source of revenue from the Indian market. Currently, these cricket governing bodies receive little sponsorship money from the Indian market.
“So far, we have worked with 10 to 15 brands on virtual inventory,” Bardia said. Rise Worldwide is one of the leading sports marketing agencies in the country which had cracked over 60 sponsorship deals worth ₹400 crore for Indian Premier League 2023.
He stated that in addition to the ECB and CA, the BCCI and New Zealand Cricket have also tried out virtual inventory.
Virtual inventory sits between on-ground advertising and broadcast sponsorship, with brand assets integrated virtually. “Virtual inventory increases the commercial potential for rights holders. For brands, virtual inventory offers the flexibility to modify creative for each match,” Bardia added.With cricket viewership at an all-time high on both TV and digital, brands that buy virtual inventory are assured of high visibility since the sponsor logo is inserted at the production stage, said Bardia. He further stated that an international cricket board can earn between ₹1.5 crore and ₹2 crore per match from the sale of virtual inventory for matches featuring the Indian team.
“In terms of virtual branding, BroadcastVirtual is a pioneer. They collaborate with the manufacturing crew and insert the logo during the production phase,” Bardia said.
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