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Sony Entertainment signs Cashfree Payments for Shark Tank India

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Cashfree Payments India Pvt Ltd, a payments and API banking solutions firm, has partnered with Sony Entertainment Television and its OTT platform Sony LIV as the ‘Payments Partner’ for Shark Tank India season 2.

The company said the partnership aligns with its vision of enabling budding entrepreneurs to turn their ideas into successful and scalable businesses. This is the company’s second year of partnering with the production house which is to be televised in January.

In the first season of Shark Tank India, 67 Indian businesses got investments out of the 198 pitches, serving as a significant boost to the Indian entrepreneurial landscape. The second season aims to have a bigger impact with more episodes, pitches, and cracked business deals. It will have 50 episodes.

Akash Sinha, co-founder and CEO of the payments firm said, “India’s digital payments growth story is fuelled by a surge in the number of startups not just in metros but across tier 2 & 3 cities. We believe this association goes a long way towards our philosophy of fostering innovation in the Indian startup ecosystem, which deserves to be encouraged and celebrated.”

Sandeep Mehrotra, head, ad sales, network channels at Sony Pictures Networks India said, “The revolutionary change that Shark Tank India has ushered into the mindsets of the viewers about business and entrepreneurship is a testimony to the impact that the property has created. We are thrilled to be bringing back another exciting season and welcome them onboard.”

Ranjana Mangla, head of ad sales revenue for the OTT platform Sony LIV | Culver Max Entertainment, said, “This show has presented the audience with a unique viewing experience that is both educational and entertaining. This show is an excellent platform for brands and marketers to drive deep purposeful advertising in a highly engaged environment.”

Advertising spends in India are projected to grow at 15.2% in 2023 and 15.7% in 2024, the highest for any market in the world. In 2022, Indian advertising will grow at 16%, said a report by Dentsu titled ‘Global Ad Spend Forecasts.’ Ad spend growth rate for China in 2023 is forecast at 4.0% and 5.4% the following year. Around the world, ad spends will likely grow at about 8.7% in 2022, it said.

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