India Inc. Splurging $235m on Cricket World Cup
May 3, 1999 - 0:0
NEW DELHI The upcoming Cricket World Cup has unleashed a multi-million-dollar advertising bonanza in India, where the sport's quasi-religious status ensures two weeks of unprecedented market reach. India Inc. plans to splurge 10 billion rupees (235 million dollars) on advertising and promotions before and during the tournament, which begins in England on May 14. "Since most Indians are cricket-crazy, companies consider it savvy to jump onto the cricket bandwagon to promote their brands," said Rajat Banerjee of New Delhi-based advertising firm, Iris India Ltd. Media buying agencies say Indian companies have already committed 4.3 billion rupees (101 million dollars) to advertise on television, radio and in print during the cup.
State-run television network Doordarshan and satellite broadcaster Star-ESPN, which will carry the matches, say 50-odd Indian companies have already snapped up all their advertising slots. "We sold out all our advertising space by end-February. A good ten weeks before the event," said Sidharth Ray, chairman of Doordarshan's marketing agent Stracon. "The World Cup outstrips any other sporting event in its mass appeal in India. This year, there is nothing to compete with it as a revenue earner," said Ray. Indian test cricketers enjoy the sort of public attention lavished on Hollywood film stars, and the deep-rooted passion for the game means upwards of 80 million Indians will be tuning into the cup.
"We have already sold advertisement slots for 570 million rupees (13.47 million dollars) to 25 Indian companies," said Ray. Castrol India, Pepsi, Coca-Cola, Samsung, LG Electronics and hero Honda account for a significant chunk of the latest rush of cricket-led advertising. Star-ESPN has paid 16 million dollars to the England and Wales Cricket Board for telecasting all the matches during the 42-day cricket tournament.
"We will book handsome profits," said an ESPN official. This confidence stems from the fact that the main sponsors on Star-ESPN have already put up 90 million rupees (2.1 million dollars) each, while 25 companies have snapped up all the available 30-second spots being hawked at 315,000 rupees (7,400 dollars) a pop. Indian companies have also drawn up a budget for carrying out product launches during the World Cup. (AFP)
State-run television network Doordarshan and satellite broadcaster Star-ESPN, which will carry the matches, say 50-odd Indian companies have already snapped up all their advertising slots. "We sold out all our advertising space by end-February. A good ten weeks before the event," said Sidharth Ray, chairman of Doordarshan's marketing agent Stracon. "The World Cup outstrips any other sporting event in its mass appeal in India. This year, there is nothing to compete with it as a revenue earner," said Ray. Indian test cricketers enjoy the sort of public attention lavished on Hollywood film stars, and the deep-rooted passion for the game means upwards of 80 million Indians will be tuning into the cup.
"We have already sold advertisement slots for 570 million rupees (13.47 million dollars) to 25 Indian companies," said Ray. Castrol India, Pepsi, Coca-Cola, Samsung, LG Electronics and hero Honda account for a significant chunk of the latest rush of cricket-led advertising. Star-ESPN has paid 16 million dollars to the England and Wales Cricket Board for telecasting all the matches during the 42-day cricket tournament.
"We will book handsome profits," said an ESPN official. This confidence stems from the fact that the main sponsors on Star-ESPN have already put up 90 million rupees (2.1 million dollars) each, while 25 companies have snapped up all the available 30-second spots being hawked at 315,000 rupees (7,400 dollars) a pop. Indian companies have also drawn up a budget for carrying out product launches during the World Cup. (AFP)