Global brands are spending generously in ICC men’s cricket World Cup 2023. The tournament, scheduled from October 5 to mid-November, is a prime opportunity for brands to connect with the cricket-enthusiastic population of 1.4 billion. While brands are eyeing the global viewership that World Cup guarantees, what brands are mostly after is the viewership that the India market offers.
Inventory sales is driven by not just the event’s widespread popularity but also because it is coinciding with the festival season.
Companies like Coca-Cola Co., Google Pay by Alphabet Inc., and Hindustan Unilever are among the prominent brands securing airtime during the World Cup. Additionally, official partners of the ICC include major names such as Saudi Aramco, Emirates, and Nissan Motor Co.
In a Bloomberg report, Madan Sabnavis, chief economist at Bank of Baroda said, “It’s the consumers in the world’s most populous nation who are the biggest prize, particularly for foreign brands.”
“Cricket has less fanfare globally as compared to other sports like soccer, but the kind of frenzy you witness in India around cricket is not present elsewhere,” he said.
Brands are likely to spend about Rs 20 billion in advertisement spots on streaming platforms during the tournament, estimates.
Anticipated to reach Rs 30 lakh for a 10-second slot, advertising rates for the World Cup are poised to surge further, close to the tournament.
Disney Star, the exclusive TV broadcaster for the World Cup in India, announced a partnership with 26 sponsors, including Booking.com BV and liquor company Diageo Plc, as stated in a statement shared by the company on Wednesday.