💎 Is Shark Tank the next IPL?

Do you think Shark Tank India will become the next IPL? Will it grow from being a televised show to a business in itself?

Well, if the popularity of the new season of Shark Tank is anything to go by, it may just follow in the footsteps of the IPL and grow into a mega-successful business in itself.

In this edition of Three Point Five, I will dive into the world of Shark Tank India, how it is slowly becoming a business in itself, and the impact the show has had on Indians.

Entertainment and business

Did you know Shark Tank USA, which premiered in 2009, is actually based on a Japanese show called Money Tigers?

The concept of entrepreneurs pitching their businesses to a panel of investors in a televised reality show became popular in Japan and was adapted by different countries after that.

In fact, Shark Tank USA was conceptualised after Dragons' Den, based in the UK. So clearly, India is very late to the party.

But, if the popularity of the adaptations across the world is anything to go by, this is just the beginning for Shark Tank India.

In the first season of Shark Tank India, across 35 episodes, 67 businesses were funded from the 198 pitches, with sharks committing investments of Rs 42 crore.

Shark Tank - a business in itself?

While a lot has been discussed over the past week about the profitability of the sharks' businesses, it turns out that the show is turning out to be a successful business venture.

Let me tell you about the various sources of income for the show–

Distribution:

Like every television show, Shark Tank India too can be viewed on TV channels and streaming platforms. While these broadcasting rights come at a considerable cost, the revenue from brands and advertisers is also high due to the high viewership.

Sony Pictures Networks India, the sole distributor for both seasons of Shark Tank India, announced "Shark Tank India season one received a phenomenal response from brands and advertisers. With season 2, the show has already clocked in triple the revenue on Sony LIV compared to last year."

While the exact revenue from distribution is not known, the growing popularity only means more viewership and more revenue.

Other formats across the globe eventually air on Netflix and other streaming platforms that bolster revenue through viewership.

In fact, the current season is already exceeding expectations when it comes to viewership.

Sponsorships and advertisements:

In Season 2, Shark Tank India has only gotten bigger – pitches, deal sizes, marketing budgets, and partnerships have increased in quantum.

Sponsorship is an important source of income for the entertainment and sports industries. Shark Tank is no different. This season has many big names as sponsors – UpGrad, ACKO, Cashfree Payments, Smallcase, Fi Money, Flipkart, Dell Technologies, Pokerbaazi, EatFit, Lenskart, and Apollo 24/7.

Along with sponsors, advertisements play a vital role in earning revenue. 10 days before the new season of Shark Tank India launched, the channel announced that it had already sold over 75% of its ad inventory.

Adaptations, spin-offs and specials:

As its popularity grows, Shark Tank India has the potential to capitalise on its popularity, much like the other international adaptations. Other than Shark Tank having its own versions in multiple countries, spin-offs and adaptations have been made to cash in on the success of the concept.

In 2015, the American Broadcasting company launched a series called Beyond the Tank that showed the success stories and status of companies funded on Shark Tank USA. It also explored the performance of companies that got rejected by investors. Recently, in 2020, a special called Shark Tank: Greatest of All Time featured the most successful products, unforgettable pitches, and clever entrepreneurs to appear on Shark Tank over the years.

Shark Tank USA further adapted the show to include a live studio set up wherein viewers come in as a live audience and get to view, vote and order from businesses they like.

A place in the spotlight:

While the production house, television channel and sponsors all seem to be basking in the sunshine, the real winners of Shark Tank are the participating businesses and the sharks.

Whether they are bagging an investment from the sharks or not, businesses get free publicity – be it virality on social media or an increase in sales.

Hammer Lifestyles, one of the businesses pitched in season 1, which had a monthly sales figure of Rs 70 lakhs before coming to the show, has jumped to a whopping monthly figure of Rs 2 crores.

This story of exponential growth isn't just limited to one or two businesses.

The sharks, too, have become household names, strengthened their personal brands and seen an uptick in their businesses.

Through social media content, decoding business jargon, personal anecdotes from the sharks and deal highlights – the show truly has struck a chord with Indians.

The success of Shark Tank India is very poignant. It reflects the increased interest in 'starting up' and highlights the increasing acceptance of entrepreneurship in our society.

Suddenly entrepreneurship has become a part of dinner table conversations – a welcome change from the times when the only professions that were respected were 'doctors, engineers and chartered accountants.'

True to its tagline, Shark Tank is achieving its objective — "Ab pura India, business ki sahi value samjhega!".

And like how the IPL started off as a sports league, it has now become a brand worth $8.4 billion; Shark Tank India, too, is on its way to becoming a brand of its own.