India’s historic victory at the cricket world cup will spell huge revenues for the Indian Premier League, the country’s commercial cricketing competition.
Advertising revenues from the Indian Premier League, the domestic 20-20 cricketing tournament starting next week is expected to match, even exceed the cricket World Cup’s $180m bonanza.
All of the winning team’s 11 players will compete in the 74-match cricketing competition, making the bollywood celebrity endorsed cricketing event a must watch for the country’s cricket fans.
“It would be difficult to compare, but SET Max (the IPL official broadcaster) would earn comparable revenues,” Punitha Arumugam, group CEO of Madison Media , which buys media for advertisers such as ITC, Cadbury, Bharti Airtel and Britannia, told Economic Times newspaper.
SET Max, Sony’s Indian television channel, is likely to earn over $223m from the fourth season of the premier league, an official told the Economic Times.
Advertising rates for the winning team players have shot up after Saturday’s victory. Brand endorsement rates of M.S.Dhoni, the team’s captain, Sachin Tendulkar, the legendary cricketer, and Yuvraj Singh, the sportsman adjudged the man of the series, are reported to have increased by a third. Rumour has it that the endorsement rate for Dhoni might exceed $2.2m per product or product range per year.
The timing of the event, immediately following the world cup, combined with the beginning of the financial year have helped corporate allocations for television advertising this year, according to analysts. New advertisers for products including water purifiers, paints, detergents and even travel portals are looking for the victorious cricketers.
About 67.5 million viewers watched the India-Sri Lanka world cup final, according to Audience Measurement and Analytics, the rating agency. Analysts expect the premier league matches, which are played in the 20-20 format in the evenings, and are therefore shorter and convenient to watch, to match similar viewership numbers.
Merchandisers of the premier league teams have also benefitted from the demands of zealous cricketing fans. Many youngsters are said to have been buying team jerseys and accessories for the upcoming competition.
India seems to have been gripped by the cricketing fever, and while Indians celebrate the win, broadcasters and cricketers are poised to cash in.
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