MUMBAI: The bean counters at Star Sports have had to recalibrate overall advertising revenue estimates a tad following the shock loss of pre-tournament favourites India to New Zealand in a pulsating semi-final played over two days earlier this week.
Advertising rates for the 5-10% air time inventory Star Sports had kept aside as spot buys for the finals Sunday have reportedly dropped back to Rs 1-1.5 million per 10 seconds, as against the Rs 3-3.5 million per 10 seconds that would have been quoted had Team India been contesting forthe title.
Livemint, quoting media industry sources, reports that the average TV sponsor rates for this edition of the Cricket World Cup were in the range of Rs 800,000-1 million per 10 seconds across the tournament.
For the record, four matches, including a league match between India and New Zealand on June 13, were washed out.
And the semi-final between India and New Zealand stretched for two days because rain disrupted play on Tuesday.
As per what media agency sources tell SportzPower, after factoring in the washouts and India not being able to reach the final, Star may end up getting around Rs 10-12 billion in advertising revenue from television for the tournament and an additional Rs 3 billion from Hotstar.
Leveraging the popularity of the ICC Cricket World Cup, a once-in-four-year event, that is being played in England and Wales, Star had signed over 40 top advertisers, including PhonePe, OnePlus, Havells, Amazon, Dream11, MRF Tyres, Coca-Cola, Uber, Mondelez, Oppo, Philips , Ceat Tyres, Swiggy, Airtel, Vodafone, Netflix, Paisabazaar and ICICI Lombard, among others.
