Have you ever heard of any major sports event being streamed live for free by a private company? It is extremely rare but very much possible if the end prize target prize promises to deliver multifold returns.
Recently in a surprising move, the chairman of Reliance Industries, Mukesh Ambani, announced that the 2023 Indian Premier League (IPL) would be available for streaming for free.
This news has left many cricket fans excited, but also puzzled as to why one of India’s richest men would give away one of the country’s most popular sporting events for free. In this article, we will explore the top reasons why Mukesh Ambani has made this decision.
2. Increased brand loyalty and market share
One of the primary reasons why Mukesh Ambani has decided to stream IPL for free is to increase brand loyalty and market share for Reliance Jio, his company’s telecom arm.
Reliance Jio has already disrupted the Indian telecom market by offering low-cost plans and high-speed internet to its customers. However, it faces tough competition from established players such as Airtel and Vodafone Idea.
By offering free IPL streaming, Reliance Jio aims to attract more customers and increase its market share. The move will also help the company retain its existing customer base and keep them loyal to the brand.
The IPL is one of the most popular sporting events in India, and millions of fans tune in to watch the matches. By providing free streaming, Reliance Jio hopes to tap into this massive audience and increase its customer base in a short period.
The strategy has been thought out carefully. The TATA Group is the title sponsor of the event and streaming the event for free, will also help Reliance to portray itself as equivalent to the TATA brand.
An important assumption is the wide consumption of data and adoption of mobile phones in India, which in an opportunity for Jio to nudge competitor users to try out its own product. Content consumption on mobile phones is growing by leaps and bounds in India and Jio wants to leverage this phenomenon.
Now, regulation is also providing an environment, which is conducive. Earlier phone number portability did not exists and thus stickiness to a brand was on the higher side. Based on user experience Reliance Jio can also convert additional users to it’s services, thus increasing the revenues.
3. Generate Ad revenue
While Reliance Jio is offering IPL streaming for free, it does not mean that it will not generate any revenue from it. The company plans to monetize the free streaming by selling advertising space during the matches. With millions of viewers expected to tune in, the IPL is a perfect platform for advertisers to reach a massive audience.
By offering free streaming, Reliance Jio is likely to attract more viewers, which will translate into higher advertising revenue. This move will help the company generate revenue without having to charge its customers for the service. In addition, it will also help the company differentiate itself from its competitors, who are yet to offer such a service.
4. Revenue streams diversified
Reliance Jio has been primarily focused on the telecom industry, offering services such as voice, data, and messaging. However, the company has been expanding its portfolio and diversifying its revenue streams. For instance, it has launched its e-commerce platform, Jio Mart, and has also entered the digital content space with Jio TV and Jio Cinema.
By offering free IPL streaming, Reliance Jio is entering a new market and diversifying its revenue streams. The move will help the company generate revenue from advertising and increase its brand value. In addition, it will also help Reliance Jio stay competitive in the fast-changing telecom industry, which is increasingly becoming digital-centric.
5. Enhanced User Experience
In addition to generating revenue and increasing market share, offering free IPL streaming is also aimed at enhancing user experience. The IPL is a high-energy event, and watching it on a small screen is not the same as watching it on a big screen. By providing free streaming, Reliance Jio is allowing its customers to enjoy the matches on their big screens, making the experience more immersive and enjoyable.
In addition, Reliance Jio has been investing heavily in its network infrastructure to provide high-speed internet to its customers. By streaming IPL matches for free, the company is showcasing the capabilities of its network and highlighting the quality of its service. This move is likely to attract more customers and help Reliance Jio stay ahead of its competitors.
6. Corporate social responsibility
Finally, Mukesh Ambani’s decision to offer free IPL streaming may also be driven by his sense of corporate social responsibility. The COVID-19 pandemic has had a significant impact on the world, and India has also been impacted.
The free streaming of IPL, will not only help boost engagement and excitement around cricket but will also foster a sense of unity among fans regardless of their socio-economic backgrounds.
7. Parting thoughts
Someone had rightly quoted that the best marketing leads the intended product to sell itself. This is usually achieved by creating an artificial scarcity and fear in the mind of consumers.
The initiative by Mukesh Ambani to make IPL available for free is a noble gesture and appreciated by millions of fans. Through this initiative, he has provided an opportunity for many cricket lovers to enjoy their favorite sport. Moreover, it has helped in bringing people together from different walks of life to cheer for the same team and share the same joy. It is no doubt that this move has gone a long way in connecting with the hearts of cricket fans all over India.
In addition, it will also help Reliance Jio stay competitive in the fast-changing telecom industry, which is increasingly becoming digital-centric.
1. How can Reliance Jio users watch 2023 IPL for free?
Ans. Reliance Jio users can watch the 2023 IPL for free in Jio Cinema where all the 410 matches will be streamed for free in 4K resolution.
2. How many teams are playing in the 2023 IPL ?
Ans. There are 10 teams who will be playing in the 2023 IPL.
3. Who is the title sponsor of the 2023 IPL?
Ans. The Tata Group is the title sponsor of 2023 IPL.