Star India, the official broadcaster of the ICC Cricket World Cup is staring at huge losses on the advertising front due to washouts
As many as four matches have been washed out during the 12th edition of the ICC Cricket World Cup -- highest ever since 1975 when the first edition of the sporting event took place.
India’s match with New Zealand on June 13 became the fourth no-result in the total of 18 matches that have been played so far in this edition.
Along with the India-New Zealand match, three other matches had been called off due to rain including Sri Lanka-Pakistan and Bangladesh-Sri Lanka in Bristol, and West Indies-South Africa in Southampton.
Rain is dampening the sentiments not only of cricket enthusiasts, but also that of the stakeholders who have big money betting on these games.
Take the example of Star India -- the official broadcaster of the ICC Cricket World Cup -- which is looking at huge losses on the advertising front due to these washouts. If the India-Pakistan match is hit by the bad weather, the loss will escalate.
Similarly, advertisers who have spent significant amount of money for campaigns and advertisements during Cricket’s flagship event, are now looking at a no-show for a lot of matches. This is costing them as the advertising rates for the ongoing World Cup matches were as high as Rs 15-20 lakh for a 10 second slot.
In an earlier interview to Moneycontrol, MK Machaiah, President Content+, Mindshare South Asia, had said that the sponsorship package for matches during the World Cup costs around Rs 40 crore on television and Rs 15 crore on digital.
For India-Pakistan match, the advertising rates went up to Rs 22 lakh for a 10-second slot. The match is expected to generate over Rs 120 crore.
With such investments riding on World Cup matches, advertisers are unhappy with the way things have been arranged. A better management or scheduling of the tournament in July are few suggestions by the disappointed brands.
If reserve days come into play, the World Cup will get extended for another month, which would lead to a logistical nightmare. Accommodation, travel expenses, venue availability and broadcast logistics, everything will go for a toss.
However, most importantly, cricket fans will lose out the most as they have been traveling to watch their favourite teams and players play.
This will also impact those who are glued to their television sets or mobile devices to catch the matches live.
In fact, Star is more worried about the viewership as the rain-marred matches will lead to low TRPs (television rating points). It is banking heavily on the India-Pakistan match, when it comes to viewership. The India-Pakistan semi-final of the 2011 ICC Cricket World Cup had recorded 495 million viewers.
The India-Pakistan match is crucial for the International Cricket Council (ICC), Star and cricket fans who have bought tickets for these matches ranging between Rs 21,000 and Rs 58,000.
There remains a 60 percent possibility of rainfall in Manchester during the India-Pakistan match, according to the weather forecast. Hence, everything now depends on the rain gods.ICC Cricket World Cup | India vs Pakistan: For the LIVE updates, click hereThe Great Diwali Discount!
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