MAM
IPL 2024 expected to drive 50 per cent surge in influencer marketing collaborations: Qoruz Report
Mumbai: As the Indian Premier League (IPL) continues to captivate millions, its impact on Social Media engagements is evident. The IPL is not just a cricket tournament, it’s a social phenomenon that brings fans together, creating a buzz that goes beyond the cricket field. With the rise of digital platforms, the IPL has become a hotspot for influencers to connect with their audience, sharing moments of thrill, passion, and celebration. This trend is only growing, as highlighted in a recent industry report by Qoruz, which forecasts a 50 per cent increase in influencer collaborations during the IPL 2024 season.
The report examines the substantial growth seen last year, with influencer mentions during the IPL 2023 season showing a 45 per cent increase compared to 2022. This surge was led mainly by sports influencers, who made up 54 per cent of the influencer collaboration share, followed by those in entertainment, beauty, fashion, and lifestyle. Such dynamic interactions underscore the opportunity for brands to partner with the right influencers, leveraging trending content to enhance brand visibility and connection with audiences.
Leading the influencer marketing initiatives during the 2023 IPL season, JioCinema achieved remarkable success with a staggering 75 million reach across 77 influencers, setting a new standard for social media engagement. Following closely, Dream11’s collaborations also garnered impressive results with 41 million reach from 15 influencers. Other brands such as Zee Music Company, Gugobet, JeetWin, KFC, Puma, Cricbuz, Adidas, Swiggy, Reliance Foundation, Zomoto, Myntra, and Ubon significantly contributed to the vibrant influencer marketing landscape, each leveraging unique strategies to enhance brand awareness and consumer engagement amidst the cricket excitement.
Qoruz the co-founder and CEO Praanesh Bhuvaneswar highlights the changing dynamics, “The IPL’s widespread appeal and the engaging content created around it offer a prime opportunity for brands to make significant inroads in terms of visibility and engagement. As social media influencers continue to play a crucial role in shaping the narrative around the IPL, brands that strategically partner with these personalities stand to gain immensely.”
“The ongoing IPL season transcends the boundaries of cricket, transforming into a cultural phenomenon that captures millions of hearts. It presents a golden chance for brands to engage in innovative storytelling and create authentic connections. Leveraging the right influencers during this vibrant period allows brands to amplify their voice, ensuring their message resonates with the audience’s enthusiasm for the game. With an evident surge in influencer collaborations this season, our focus is on crafting impactful narratives that echo with the audience’s passion, fostering a deeper connection with the cricket-loving community,” said Mothi Venkatesh, Head of Growth at Qoruz.
The report anticipates a significant rise in influencer marketing activity during the ongoing IPL 2024, with a 50 per cent increase in influencer shoutouts expected. This highlights the growing importance of partnering with the right influencers to connect with fans engaged in the season’s excitement. With the IPL uniting both die-hard cricket enthusiasts and casual viewers, brands have a unique opportunity to leverage influencer marketing and reach a massive audience during this highly anticipated event.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
