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Jio Continues Backing IPL franchise Punjab Kings
Reliance Industries owned Jio has renewed its deal with IPL franchise Punjab Kings (PBKS) for the current IPL season.
The deal ensures the Indian telco continues to remain the principal partner of PBKS for the current IPL season, and the franchise’s match shirts will feature the Jio emblem on the leading arm.
Apart from Jio, the franchise has also secured sponsorship deals with Hindware, Timex, Astral Pipes, KENT, Advance Decorative Laminates, SIX5SIX and Verka for the ongoing IPL season.
According to ASN data, cricket (83.4%, ~US$1.48 billion) continues to unsurprisingly dominate the India sponsorship market since Q221, as it is home to the IPL, the richest T20 cricket tournament in the world. Brands, including non-endemic ones, have all plunged into backing the franchises as a cheat code to engage the masses.
As for Jio (88.6%, ~US$14.6m), it continues to cement its position as the biggest spending brand for its category in India’s sponsorship market since Q221. It is also looking at a rosier Q124 with spends forecasted to reach US$2.05m, about 1.5x above the quarterly average of US$1.3m.
