As the fourteenth edition of the Indian Premier League IPL got done in Dubai on October 15, it saw Chennai Super Kings emerge victorious in the final. The big-ticket tournament, an annual affair, was held in the United Arab Emirates because of the pandemic and by the looks of it, a change in venue scarcely mattered. Cricket is a phenomenon in India and remains very difficult to understand. Talk of too much of the game never seems to deter advertisers as they seem only too willing to cut the cheque. Exactly two days after the IPL, we got started with the T20 World Cup and the money will start to flow once the moment India gets on to the field. This tournament is also held in the UAE Oman will also host a few matches and India is one of the hot favourites to lift the cup. Also read: Twitter exceeds revenue targets with ad improvements, shares up 7%.
Advertisers and media planners told Business Today that a 10 second advertising spot there are 2,600 seconds of commercial time for each match will cost less than Rs 5 lakh for a match where India is not playing. The equation changes the moment India is mentioned and it will be as much as Rs 18 - 19 lakh for a spot and nothing comes close to the much-awaited India-Pakistan clash on 24 October at Dubai's international cricket stadium where the asking rate is said to be Rs 23 - 25 lakh for a 10 second spot. If the same two teams make it to the final, viewership will hit the roof and it is expected that a 10 second spot will be at least Rs 25 lakh. If things work out to plan, the broadcaster will gross a revenue of Rs 1,200 - 1,300 by way of digital advertising revenue and another Rs 250 - 300 crore through its television platform Hotstar. The IPL, it must be mentioned, had an advertising rate of Rs 12-13 lakh.
Advertisers maintain it is necessary to be there on the T20 World Cup. Considering it is not an annual event, unlike the IPL, there is always a higher level of interest in the game. This year, the event promises extensive reach in India and other markets building on the celebratory mood of the festive season, says Kartikeya Bhandari, CMO, Livspace, a company in the home interior and renovation space. His company was also on the IPL advertiser list. In markets that we are present in, a significant portion of our audience favors digital and we will invest there. The decline of appointment viewing has made live sports, be it cricket, tennis, or football, one of the more prominent parts of a marketer's media mix, he explains. That said, we are primarily betting on digital. The compounded viewership across screens propelled by OTT platforms makes digital the go-to platform for a new-age brand like ours. Also read: IPL and its changing advertiser profile.
The interesting conundrum is that while cricket is not cheap, the reach it gives is quite unbeatable. As Nida Naushad, Head of Brand, CARS 24, says cricket is deeply rooted in Indian culture. Whether it is the IPL or the T20 World Cup, there is no denying that these two sporting events are a goldmine for eyeballs, especially when it comes to brands aiming to connect with a large audience base and going beyond the home country. Largely speaking, opting for one event over the other boils down to brand budgets and timelines for promotions. The changing profile of the advertiser on digital, for example, has a large proportion around 40 per cent from e-commerce, automotive, and FMCG; e-commerce is at least 25 per cent. Another 45 per cent comes from mobile phones and online fantasy games. Harish Iyer, EVP, Interactive Avenues, a full-service digital agency explains that the audience profile during the IPL is more skewed towards cities and franchisees that do well or have created a great persona about the teams. On the T20 World Cup, all matches where India is playing will have a nationwide following, to see how India is poised against other teams as they move into the semi-finals and finals of the tournament. There is not really a great difference in advertiser skew and Iyer thinks it is quite similar to the IPL. Today, digital sports consumption is the second largest genre after GEC general entertainment channels content, he says. Again, it boils down to reach and according to Chirantan Chandran, media and advertising consultant who has held senior positions in Mindshare and Dentsu, speaks of the T 20 World Cup reaching an audience of 400 million on broadcast and 200 million on streaming. In his opinion, this will be spread out from states beyond those with an IPL franchisee. Markets historically low on IPL viewership like Orissa, north-east, Kerala will also see a surge in viewership during the tournament, he thinks. When bat hits the ball on grass, the money starts to flow in.
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