Latest news with #Rediffusion
Time of India
a day ago
- Automotive
- Time of India
Tesla's California cool aura faces big test on Indian terrain
As Tesla gears up for its next showroom unveiling, this time in Delhi following the recent Mumbai debut, it is clear that the brand remains a big draw despite its limited numbers and high price tag. This was more than evident from the media hysteria accompanying the Mumbai event which dominated the headlines through the day. 'Tesla is a much admired brand, not just in India but all over the world. In India, it is always seen as a cool brand given the fact that it is very popular with the Silicon Valley IT crowd and the budding tech millionaires in India also want to own one. So do the stock brokers and equity traders.' says Ambi Parameswaran , noted brand strategist and author. Observers believe the charm lies in its disruption. On US roads, a Tesla is as common as a Toyota Camry and yet it still carries the sheen of Silicon Valley sophistication. It represents something far beyond transportation. In India, this halo still exists, albeit dimmed by sticker shock. According to Sandeep Goyal, Chairman, Rediffusion, 'More than anything else, it is the badge value. To be one amongst your social and work group to own a Tesla gives you bragging rights - the glow of that social esteem is incomparable!' Diminishing aura The fact that the company has lost its aura in recent times thanks to competition from Chinese carmakers, especially BYD, could be of little consequence to buyers in India. Many are also aware that the electric movement is already underway here thanks to local brands which have thrown their hats into the ring. 'Maybe the Indian-made cars from Tata and Mahindra may be better, or BYD may be better, but Tesla has the California cool aura, so there will be a long waiting list,' says Parameswaran. Vinay Raghunath, Partner, Automotive and Mobility Sector Leader, EY India, echoes these sentiments. 'Tesla's arrival marks a milestone in India's electric mobility journey. It will elevate consumer awareness, set benchmarks in connected and autonomous mobility, and prompt OEMs and ecosystem players to invest and innovate.' Tesla is also about the charisma of its CEO, Elon Musk, who has a huge fan following among India's young techies who almost revere him. This kind of hero worship may not resonate across the US and Europe where the Tesla chief has faced a lot of heat in recent times. The Elon Musk factor He has also had a publicised falling out with US President, Donald Trump, and subsequently exited the White House administration. Musk has raised the hackles of many people in the West with his provocative comments but India could not care less. 'Tesla is an Elon Musk statement. It is a statement of futuristics married to technology. Therefore, Indians love the Tesla story,' reiterates Harish Bijoor, Business & Brand Strategy Expert, Founder – Harish Bijoor Consults Inc. Perhaps, this may not be entirely true, argues V.G. Ramakrishnan, Managing Partner, Avanteum Advisors LLP. 'Tesla's aura in India has faded slightly from five years ago. Back then, it was the ultimate symbol of aspiration. Today, some of that sheen has worn of partly due to its pricing, Musk's polarising leadership and partly because American brands have struggled to localise in India. Apple is the exception; most others—Coke, Pepsi, Domino's—had to adapt to survive.' High levies In its turn, the company cannot ignore India either even while there have been constant cribs about the high import duty levels prevalent here. The Model Y shipped from Shanghai will, consequently, cost a bomb at over INR 60 lakh and it remains to be seen if this will still attract customers by the droves to Tesla showrooms. The price tag immediately sparked a wave of memes online, with some branding the vehicle 'TAX‑LA.' On offer is the base Autopilot suite (Level 2 ADAS), while Tesla's full self-driving (FSD) package—currently restricted by Indian regulation—remains off-limits. Yet, this is of little consequence when the top priority is to test the waters here. "Tesla or for that matter any other brand in the world of auto cannot ever ignore India. India is just too big to ignore. We host the largest number of potential consumers in the world, a wee bit of a notch above China as well. India is a "never mind the price" market at the top of the pyramid hierarchy of auto. This fact is scented by Tesla,' says Bijoor. Gauging market response The market response will also give the carmaker a better idea of its longterm business plan and if it makes sense to manufacture in India. Tesla's India debut has been long in the making—delayed by red tape, regulatory uncertainty, and Musk's well-documented standoff with India's high import duties. "In many ways, Tesla delayed an Indian entry as far as possible till friendly tariffs fell into place. This is just yet to happen, but might just. Tesla does pack charm. Its charm is in its differentiation,' continues Bijoor. While no 'friendly tariff' resolution is yet in place, Tesla has decided to test the waters. And true to its style, it arrives not as a mass-market disruptor, but as a high-end provocateur. It's no secret that the Centre tweaked its electric vehicle policy to suit Tesla except that the company was in no mood to bite the bait. Whether the India-US trade pact will offer import duty concessions is also a moot point since there is now no love lost between Trump and Musk. Tesla's influence is catalytic, rather than competitive—at least for now. With luxury EVs forming just 4 per cent of the 1.5–1.6 lakh EVs sold in the first half of FY25 (roughly 5,000–6,000 units), Tesla's positioning is elite, aspirational, and niche. It does not rival Tata, MG or Mahindra on volumes but its arrival will compel everyone, from automakers to policymakers, to look up and take notice. To what extent this attention or adulation will translate into sales remains to be seen.
NDTV
5 days ago
- Business
- NDTV
BCCI Earns Record Rs 9741 Crore In 2023- 24; IPL's Big Contribution Is...
The Board of Control for Cricket in India (BCCI) generated a record revenue of Rs 9741 crore in the 2023-24 financial year, according to a report by Rediffusion. Indian Premier League (IPL), which was described as the golden goose of BCCI in the report, contributed 59 per cent of the total revenue amounting to Rs 5761 crore. 'BCCI in 2007 discovered a golden goose – the IPL which is now a 100 per cent part of the BCCI. The tournament is the best and media rights are constantly going up. IPL also ensures that players from Ranji Trophy-levelget a playing field. IPL will continue to churn out profitability as it growth further,' said Lloyd Mathias, business strategist and independent director. The BCCI earned Rs 361 crore from the media rights of non-IPL events which included the rights for series featuring the Indian cricket team. At the moment, Viacom18 holds the rights for the Indian cricket team matches while Disney Star and Viacom18 have the IPL rights for the 2023-27 cycle. 'BCCI has immense potential to commercialise traditional formats like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to shore up non-IPL revenues. Moreover, the board has close to ₹30,000 crore in reserves, which brings in about ₹1,000 crore a year in interest alone. These revenues aren't just sustainable—they are poised to grow 10–12 per cent annually, thanks to expanding sponsorships, media deals, and matchday earnings.,' said Sandeep Goyal, Chief of Rediffusion. The growing revenue has put BCCI in a brilliant possible when it comes to the global cricketing landscape. Even the International Cricket Council (ICC) has reiterated how important India is to global cricket. 'ICC depends on BCCI for the bulk of its funding. ICC is not driving revenue as it should,' said Ajimon Francis, Managing Director at Brand Finance India.
The Hindu
5 days ago
- Business
- The Hindu
BCCI earns record revenue of ₹9,741.7 crore in FY24, IPL proves main cash cow
The annual cricket extravaganza the Indian Premier League (IPL) has proved to be a golden-egg-laying goose for the Board of Control for Cricket in India (BCCI), contributing over 59 per cent of its revenue in FY24, according to a report by Rediffusion. Experts say the Board can take it further still by branching outside India. 'BCCI in 2007 discovered a golden goose – the IPL which is now a 100 per cent part of the BCCI. The tournament is the best and media rights are constantly going up. IPL also ensures that players from Ranji Trophy-levelget a playing field. IPL will continue to churn out profitability as it growth further,' said Lloyd Mathias, business strategist and independent director, pointing out that the Indian cricket event gets a big viewership as the India diaspora is huge. ALSO READ | How much money does BCCI make from one IPL? — The numbers behind IPL 2025 BCCI could popularise cricket in more countries which would help increase revenue, he added. According to branding and ad giant Rediffusion, the BCCI generated ₹9,741.7 crore revenue in FY23–24, and along with IPL, which generated revenue of ₹5,761 crore, and growing streams like WPL and global rights, 'BCCI has built a billion-rupee engine powered by fan love, smart deals, and cricketing excellence.' The Board also earned ₹361 crore from non-IPL media rights, as per the numbers. This income comes from broadcasting rights for international cricket matches and tournaments, contributing significantly to BCCI's diverse revenue streams. 'BCCI has immense potential to commercialise traditional formats like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to shore up non-IPL revenues. Moreover, the board has close to ₹30,000 crore in reserves, which brings in about ₹1,000 crore a year in interest alone. These revenues aren't just sustainable—they are poised to grow 10–12 per cent annually, thanks to expanding sponsorships, media deals, and matchday earnings.,' said Sandeep Goyal, Chief of Rediffusion. Ajimon Francis, Managing Director at Brand Finance India, said that the revenue performance by IPL shows that BCCI has created a good business model. ALSO READ | IPL's addiction to surrogate ads is undermining its family image 'ICC depends on BCCI for the bulk of its funding. ICC is not driving revenue as it should,' he said. On the flipside, an interruption in IPL revenues can also mean a big hit for BCCI. This year, the league was interrupted due to Operation Sindoor, when some events were briefly halted. However, Francis argued that the IPL performance remained 'hunky-dory' despite the temporary halt. He also pointed out that other leagues of BCCI like WPL also drive sponsors, from whom there is significant demand. 'The point is, so what if IPL makes for the bulk of BCCI's revenue? It's just a portfolio of revenues, some do better, some do not,' said Francis. When asked what BCCI can do to boost, non-IPL revenues, Francis suggested the body take equity share in other leagues at a governing level to scale up. Whereas, Mathias suggested that BCCI increase its sponsors, popularise cricket more in other countries to increase its revenue. Earlier in April, Lancashire County Cricket Club's Chief Executive Officer (CEO) also reportedly said that the England and Wales Cricket Board (ECB) should offer the BCCI a minority stake in the Hundred to attract Indian men's players to the tournament. This story by Aroosa Ahmed, Vallari Sanzgiri and Anupama Ghosh was originally published in The Hindu Businessline.
News18
5 days ago
- Business
- News18
BCCI Generated Rs 9,741.7 Crore Revenue In 2023-24, IPL Alone Contributed Rs 5,761 Crore
Last Updated: The IPL boosted BCCI's revenue, contributing 59% of Rs 9,741.7 crore in FY23-24. The top T20 league features 10 teams and top cricket talent globally. The Indian Premier League has become a 'golden goose" for the BCCI as the world's richest cricket board's coffers continue to swell thanks to the ever-growing popularity of what is widely considered to be the world's best T20 league. According to a report, of the revenue that the Indian cricket board earned in Financial Year 2023-24, IPL alone contributed a whopping 59 per cent. The IPL is an annual franchise-based T20 tournament that sees participation from the top cricketing talent from India and around the world. As many as 10 teams take part in the competition which came into existence in 2007. As per a report in The Hindu Business Line, quoting Rediffusion, the BCCI generated Rs 9,741.7 crore revenue in FY23–24 of which IPL's contribution stands at Rs 5,761 crore. 'BCCI in 2007 discovered a golden goose – the IPL which is now a 100 per cent part of the BCCI. The tournament is the best and media rights are constantly going up. IPL also ensures that players from Ranji Trophy-level get a playing field. IPL will continue to churn out profitability as it growth further," the publication quoted business strategist and independent director Lloyd Mathias as saying. As per Sandeep Goyal, the Chief of Rediffusion, the board hasn't yet realised its full potential in terms of revenue generation as there's 'immense potential" to commercialise its domestic competitions including Ranji Trophy – India's top-flight domestic red-ball tournament. 'BCCI has immense potential to commercialise traditional formats like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to shore up non-IPL revenues," Goyal said. '…the board has close to ₹30,000 crore in reserves, which brings in about ₹1,000 crore a year in interest alone. These revenues aren't just sustainable – they are poised to grow 10–12 per cent annually, thanks to expanding sponsorships, media deals, and matchday earnings," Goyal added. As per the report, the International Cricket Council (ICC), game's global governing body, is dependent on BCCI for funding since it's failing to drive revenue 'as it should". view comments First Published: July 18, 2025, 08:05 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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First Post
6 days ago
- Business
- First Post
How much money the BCCI earned in FY24, with IPL as its biggest cash cow
The IPL remains BCCI's biggest money maker, contributing over half of its annual earnings in FY24. Check out how much India's richest sporting body made in the last financial year. The numbers will shock you. read more The BCCI earned over Rs 9,000 crore in FY24 with IPL as its biggest money maker. Reuters/AFP The Indian Premier League (IPL) continues to be the biggest money-maker for the Board of Control for Cricket in India (BCCI). According to a report in The Hindu, which quoted Rediffusion, the IPL contributed more than 59 percent of BCCI's total revenue in FY24, proving once again why it is called the Board's cash cow. Here's how much money BCCI made in FY24 In total, BCCI reportedly earned Rs. 9,741.7 crore (over $1 billion) in FY23–24, out of which Rs 5,761 crore (over $580 million) came from the IPL alone. Apart from IPL, the Women's Premier League (WPL), international media rights, and sponsorship deals also added to the board's income. The report also mentioned that BCCI made Rs 361 crore from non-IPL media rights, like broadcasting India's international matches. Apart from these, the Board has close to Rs 30,000 crore in reserves, earning nearly Rs 1,000 crore a year in interest alone. The board also gets Rs 1,000 crore from the ICC as annual revenue. STORY CONTINUES BELOW THIS AD Business strategist Lloyd Mathias said IPL is a perfect model for generating money and giving opportunities to players from the domestic level. 'BCCI in 2007 discovered a golden goose – the IPL which is now a 100 per cent part of the BCCI. The tournament is the best and media rights are constantly going up. IPL also ensures that players from Ranji Trophy-levelget a playing field. IPL will continue to churn out profitability as it growth further,' Mathias said. Sandeep Goyal, Chief of Rediffusion, said that even tournaments like Ranji Trophy and Duleep Trophy can be commercialised to boost non-IPL income. He believes BCCI's overall revenue could grow 10 to 12 percent every year, thanks to sponsorships, media deals, and match-day earnings. 'BCCI has immense potential to commercialise traditional formats like Ranji Trophy, Duleep Trophy, or CK Nayudu Trophy to shore up non-IPL revenues. Moreover, the board has close to ₹30,000 crore in reserves, which brings in about ₹1,000 crore a year in interest alone. These revenues aren't just sustainable—they are poised to grow 10–12 per cent annually, thanks to expanding sponsorships, media deals, and matchday earnings,' Sandeep Goyal said. However, experts also warned that BCCI relies too much on IPL. A disruption in the league can hurt revenue. For example, the tournament was briefly halted this year due to Operation Sindoor and the subsequent tensions between India and Pakistan. For now, the IPL remains the most crucial brand for the BCCI.
