IPL 2024 Jio Cinema: Mukesh Ambani already has the formula to hit the industry with free offers. When Reliance launched Jio, it offered free data, free calling and unlimited. In two years thereafter, Jio surpassed all other companies to become the number one in the telecom sector.
Reliance Industries Chairman Mukesh Ambani is the richest businessman in the country. His wealth is more than 116 billion dollars. They are present in various industries from petrochemical to green energy. Also Reliance is working in Telecom, Media Entertainment. Mukesh Ambani acquired IPL rights from BCCI. After that it was decided to show IPL for free through Jio Cinemas. So all the cricket lovers were ‘happy’. But Mukesh Ambani is also benefiting from this decision.
Rights taken for as much as 23 thousand 758 crores
Mukesh Ambani acquired the digital rights of IPL for five years through Viacom18. He has taken this right for as much as 23 thousand 758 crore rupees. That means they have to spend 4 thousand 750 crore rupees every year. But spending so much money they are showing IPL for free. So what is Mukesh Ambani’s plan, how is he profiting by showing free matches. In fact, Mukesh Ambani thinks of log term profit instead of short term, this has come to light.
No loss, no gain
Mukesh Ambani is not harmed by showing free matches on Jio Cinema. They are earning crores of rupees. They are earning more than 4000 crores only from advertisement during IPL matches. They have foresight kept the advertisement rates low. This will keep the advertiser with them for a long time. Last year they earned Rs 3239 crore from advertisement alone. This year it will go to Rs 4 thousand crores.
How Jio Cinema earns from IPL
Brand Spotlight is an option during IPL matches. It gets special attention for companies. According to reports, the IPL campaign has 18 sponsors and 250 advertisers. There are brands like Dream11, Parle, Bitrania and HDFC Bank. Jio earns from these brand spotlights. Also people use a lot of data. Jio also earns from it. Due to excess data, the mobile owner has to spend more money.
Mukesh Ambani already has a formula to hit the industry with free offers. When Reliance launched Jio, it offered free data, free calling and unlimited. In two years thereafter, Jio surpassed all other companies to become the number one in the telecom sector. Now Ambani has played a masterstroke in Jio Cinema. Companies are earning crores by showing free matches.
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