India’s world cup dream came to an end after New Zealand defeated the Kohli Brigade by 18 runs. The official broadcaster of ICC Cricket World, Star Sports is hit with a sizable monetary loss. If India reached finals, star would have charged a premium selling ad spots for 25-30 lakhs per seconds. Livemint reports in details about the development.
From the beginning of the world cup, they were enjoying a lucrative time. And now, the prices of the advertisement slots have plummeted. They have been dropped to 15-17 lakhs. One of the industry experts comments, “Although India’s exit is disappointing, but still this has been a bonanza time for brands with more than 100 days of non-stop cricket action divided between the India Premier League and ICC Word Cup.”
An independent media consultant, Harsha Joshi commented to Livemint explaining the situation, “Since Star has been selling ads in bundled deals, leaving a small inventory for last minute buy, there may not be significant revenue loss. But the opportunity of selling a few last-minute spots has been lost because of India’s exit.
She said, “Even if the broadcaster had sold the inventory at 30 lakh per second, it would have made additional 8-10 crores. Brands do pay the huge premium, often launching new products/services, during a world cup final match as it has tremendous reach.”
It was estimated earlier that Star will make 1,800 crores in ad revenue from the top-flight cricket championship. A usual world cup match has about 5,500 seconds of total ad inventory, while during the final, depending on the demand, start can load up to 7,000 seconds of inventory which can pave the way for more revenues to come.