Days ahead of the Tokyo Olympics, official broadcasters Sony Pictures Sports Network have signed a multimillion-dollar deal with 11 sponsors for the upcoming event.
The deal sees Coca-Cola, Hero Motocorp, JSW and MPL come on board as Co-Presenting Sponsors while RBI, Visa, Lenovo, Byju’s, Herbalife Nutrition and Association of Mutual Funds in India join as Associate Sponsors for sports biggest event.
Sony have stated that while they have brought on board the new sponsors, they are also looking to on-board a few more sponsors before the start of the games on July 23.
The deal is reported to be around INR 100 crore with each sponsor paying in the range of INR 5 – 8 crore for their packages. After missing out on the event last year due to COVID-19, it’s not only the fans but the advertisers too who are looking to be associated with a major event, especially in the sports’ field, to make up for lost ground.
Sony, who will be riding high on the record viewership from the UEFA Euro 2020 finals, had released a statement before the England v Italy final saying that they had recorded 54 million viewers leading up to the final on their platform. Buoyed by this, the new sponsors will surely look to build on Sony’s ever-growing presence to reach out to wider audiences.
“Many advertisers are actually sports activities as a medium to catch the nation’s youth as a result of the engagement stage with the youth for sports activities is way increased. Additionally, this is the one section which is tough to catch on TV in any other case. We’ve bought an improbable response from advertisers for Olympics since India is doing properly in numerous sports activities. We’ve already signed up sponsors like Coca-Cola, Amul, MPL, and so forth, and are in dialogue with extra.” Rohit Gupta, Sony Footage Networks India’s Chief Income Officer, said.
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Gupta also mentioned that the network is seeing a positive response from sports, with the Euros and Copa América having already been a success and the Olympics, the India-Sri Lanka series and the India-England series also coming up.
Sony is reported to have already signed up 15 sponsors for the upcoming India-Sri Lanka cricket series. Along with Sony, the Indian Olympic Association has also received significant sponsorship deals for the upcoming event, with brands like MPL joining as Principal Sponsors in a deal reportedly worth INR 8 crore. Edelweiss, Nippon Paint, and INOX Group are on board as National Sponsors while Amul, Raymond and JSW Group join as onboard partners.
The Olympic Games will be telecast live on the Sony channels starting from July 23 to August 8.