To achieve this, the franchise intends to attract fans directly to its own app and website. Currently, it engages with fans through social media platforms like Twitter, Facebook, Instagram and YouTube.
“From a business perspective, getting customers to purchase items on MI Shop is our next growth story,” said the executive. “Last year, we began selling fan merchandise directly through MI Shop. Earlier, we were selling merchandise only through third-party platforms, but now it’s both,” he added.
IPL franchises have not realised the potential of the licensing and merchandising revenue opportunity, the executive said.
As per data provided by the franchise, Mumbai Indians’ content crossed 2 billion cumulative video views across Instagram, YouTube, Facebook and Twitter. According to consultancy firm Brand Finance, Mumbai Indians is the most valuable IPL team and has a brand value of $83 million.
“Our digital strategy is linked with social media to increase top-of-funnel engagement with MI fans. Instagram and YouTube play a huge role in us reaching out to a wider audience,” the executive said.The objective is to establish a direct relationship with fans, he said. “Once they come to our platforms and register themselves for our membership programmes, we will have more insights about them.”During IPL 2023, the MI app witnessed 300% more app downloads than the previous season, while the Mumbai Indians website recorded 60-100% growth in page views, sessions and unique users.
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