BYJU’S, one of India’s fastest-growing edtech platforms has extended its deal with the BCCI for the next 18 months. The new contract is now a extended till the end of 2024 after its original term expired in March 2022 just before the start of IPL 2022. The extension is estimated to be valued at around US$ 55 million. BYJU’S new term has begun with India’s recently concluded South Africa tour.
The brand had replaced OPPO in a groundbreaking deal in 2019 when the smartphone brand wanted to hand over the remainder of its term after being a Team India sponsor for two and a half years. BYJU’S strongly believes that cricket and its target market are synonymous, hence so much investment.
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“This was a unique and ground-breaking deal when it was announced. The extension only vindicates our original assessment that a learning app and cricket actually have a lot in common both in terms of philosophy and in terms of a strategic marketing opportunity,”
SAID BHAIRAV SHANTH THE CO-FOUNDER OF ITW UNIVERSE.
“It’s an iconic and most impactful sporting property like no other. BYJU’S have had a tremendous first term in terms of the exposure they have garnered. A global education company such as BYJU’S understands the value of associating with a national team representing a passionate fan base of 1.4 Billion people globally, using it as a key resource to leverage throughout the year. I am delighted that they have decided to extend their association for another term. We feel it’s a natural fit and in BYJU’S & Indian Cricket we see a lot of synergies and a common passion for the sport,”
HE SAID.
Indian brands now following BYJU’S footsteps
The edtech startup is also the official sponsor of the FIFA World Cup Qatar 2022. The ld will be happening late this year. In the past few months, many Indian startups followed BYJU’S footsteps. Moreover, many have sponsored cricket teams in the Indian Premier League (IPL) 2022. Some of the prime names that backed IPL teams included Paytm, Unacademy, Swiggy, CRED, and Cars24. Besides, Indian conglomerate Tata was the title sponsor for IPL 2022. The cricket fever is rising up and up in India with recent proof of IPL media rights selling at a skyrocketed price, IPL in years to come will match the valuation of the English Premier League.
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