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Thursday, March 30, 2023

Sony Entertainment Signs Cashless Payment Agreement for Shark Tank India

Sony Entertainment Signs Cashless Payment Agreement for Shark Tank India

Cashfree Payments India Pvt Ltd, a payments and API banking solutions company, has partnered with Sony Entertainment Television and its OTT platform, Sony LIV, as a “payment partner” for Shark Tank India Season 2.

The company said the partnership is in line with its vision of enabling budding entrepreneurs to turn their ideas into successful and scalable businesses. This is the second year the company has partnered with the production company, which will air in January.

In the first season of Shark Tank India, 67 Indian companies out of 198 pitches received investment, which greatly promoted the entrepreneurial landscape in India. The goal for season two is to make a bigger impact with more episodes, publicity and a successful business deal. It will have 50 episodes.

Akash Sinha, co-founder and CEO of the payments company, said: “India’s digital payments growth story is driven by a surge in the number of start-ups, not only in metros but also in tier 2 and 3 cities. Our idea of ​​fostering innovation in the Indian startup ecosystem goes a long way and should be encouraged and celebrated.”

Sandeep Mehrotra, Head of Advertising Sales, Network Channels, Sony Pictures Networks India, said: “Shark Tank India is a testament to the impact the property has had by revolutionizing the perception of business and entrepreneurship brought to audiences. We are excited to bring back another exciting season and welcome them on board.”

Ranjana Mangla, Head of Ad Sales Revenue, OTT platform Sony LIV | Culver Max Entertainment, said: “This show offers viewers a unique viewing experience that is both educational and entertaining. This show is a highly engaging environment for brands and marketers A great platform to drive deep, purposeful advertising in the world.”

Ad spend in India is expected to grow by 15.2% in 2023 and 15.7% in 2024, the highest of any global market. Advertising in India will grow by 16% by 2022, Dentsu said in a report titled “Global Advertising Spending Forecast”. Ad spending growth in China is expected to be 4.0% in 2023 and 5.4% the following year. Global ad spending is likely to grow by around 8.7% through 2022, it said.

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