Star is gearing up for a redemption of sorts in the upcoming ICC Men’s Cricket World Cup, particularly in terms of advertising sales. Ad rates are expected to go up to Rs30 lakh for a 10 second slot.
Media experts anticipate a significant boost in inventory selling due to several key factors.
Popularity of the event apart, the timing of the World Cup during the festive season further bolstering its attractiveness to advertisers. Not to forget the India-Pakistan match scheduled for October 15. Star as experts say is drawing up special packages for selling the premium inventory around it.
Ad rate analysis
“India-Pakistan match at Ahmedabad will not be sold as a standalone, one will need to buy more matches. From what we hear now is that the asking price is anywhere between Rs 25lakh and Rs30 lakh per ten seconds and depending on the size of buy and the sponsorships brands decide to take,” said Rammohan Sundaram, president, integrated media, DDB Mudra Group.
According to Sundaram, if one needs to be in all matches, an investment of nothing less than Rs 80 crores will make sense.
For perspective on the pricing dynamics that Star has implemented in the past, during the previous ICC Men’s Cricket World Cup in 2019, Star charged approximately Rs 25 lakh for 10-second ad slots specifically for the India-Pakistan match, while other India games commanded rates of around Rs 16-18 lakh.
For the other matches, a 10-second ad spot was priced at Rs 14-15 lakh.
Additionally, for the T20 World Cup held last year, Star set the price at about Rs 10.2 lakh for a 10-second ad slot.
What is boosting advertiser interest
“The timing of the World Cup couldn’t be more perfect, as it coincides with the festive season. This convergence presents an opportunity for brands interested in cricket and festive advertising to invest their ad dollars in the World Cup,” said Navin Lalchandani, SVP, Starcom India.
Star has also taken a different approach this time, offering flexible packages instead of following the conventional route. “By doing so, they are ensuring that brands with varying budgets can participate in the World Cup, including smaller brands that may have hesitated to partner with a premium cricket event like the IPL live World Cup in the past,” Lalchandani added.
So is it redemption time for Star?
Due to the division of TV and digital rights for IPL (Indian Premier League) this year, TV saw lukewarm responses in the beginning of the season. This happened mostly because digital is seen as a valuable platform for reaching a younger audience, and brands were willing to pay more for digital ads during IPL. What amplified interest was the immense reach JioCinema was offering with free streaming.
“Losing IPL to Jio was a big blunder they did given they were the ones who visioned about OTT back in 2012-2013. So of course, this is some redemption of sorts given the fever of the World Cup will be felt in every city of India given we are the hosts and that definitely is a big plus since both broadcasting and digital rights for ICC is with Disney,” Sundaram said.
Last month, Disney+ Hotstar also announced that users will be able to stream the upcoming ICC World Cup 2023 and Asia Cup for free on their mobile devices.