A ten year deal worth a whooping $50 Billion for developing IPLT20.com as an online presence of the Indian Premier League (IPL) has been clinched by Live Current Media (LCM,) a Vancouver, Canada based media company.
Live Current Media entered into an agreement with IPL and BCCI, which is the largest cricket body in the world, to provide exclusive online content for IPL through its website, IPLT20.com. The rights include building, launching and operating the online portal IPLT20.com. This deal includes a guaranteed $3 million per year to the BCCI and $2 million to the IPL, which amounts to $50 million over a ten year period. This is to be a combination of revenue generated through advertising percentages, sponsorships and merchandising sales.
Reports say that IPLT20.com will feature all the news about IPL, including profiles of players, interviews, audio-visual, photographs, live scoreboards, summaries match results, schedules, statistics and ticketing. They wish to make this an interactive site, where fans will be able to take part in polls and contests as well as sign up for newsletters for up-to-date information. Live Current Media also plans on developing fun applications such as Fantasy Cricket on their IPLT20.com site, which will endear it more to their numerous fans around the globe, which Live Current Media estimates at about one billion.
Since Live Current Media also owns cricket.com, in addition to IPLT20.com, it is also planning on developing it as another destination as well as BCCI.tv, BCCI’s official website. The BCCI site will be a premier sports website and will be the ultimate destination for all cricket fans to get all the information they need about teams and players.
IPLT20.com will be providing access not only to fans from around the world but will also provide a great opportunity for businesses catering to fans worldwide, in the form of advertising.
Andrew Wildblood, SVP of IMG, the official media and event partner for the IPL, says, “Having managed significant sports media of this size, we recognize the immense opportunity for IPLT20.com to enable passionate fans to connect with the content they want from wherever they are around the world, and for brands in India and around the world to gain visibility to this huge audience.”
It is being predicted that DLF Indian Premier League will be a major source of revenue, with many big names already coming on board as various sponsors. However, there have been concerns voiced about how Live Current Media, with revenues of $9 million and a net loss of $2 million last year, will be able to make this a success and justify the $5 million outflow per year.
These concerns may be unfounded. Lalit Mody, Charman & Commissioner of DLF Indian Premier League says, “We chose to work with Live Current because of its vision of developing a consumer hub for that provides IPL fans globally with free and direct access to the play-by-play action and ability to connect with those aspects that they love about the game – from the international stars to the on-field action.”
After betting everything into this deal, marketing wizards at Live Current Media are ready to unleash their grandiose plans and innovative schemes to lure fans to their website, to make this a great success.