The ICC ODI World Cup or simply the CWC may have better cricket, but it is the Indian Premier League (IPL) that will have more eyeballs and larger wads of advertising money thrown at it.
The big losers during the 90-day cricket extravaganza are entertainment channels, films and multiplexes.
The World Cup is expected to generate Rs.700 crores in ad revenues; the IPL, on the other hand, could touch the Rs.900 crores mark.
Advertising rates for IPL 4 are 25 percent to 35 percent higher than last year.
Rates at the CWC are Rs.4 lakh per 10-second slot. IPL rates are much higher at Rs.5.5 lakhs per 10 seconds.
The risk quotient for the CWC is higher than the IPL; there always exists the possibility of the Indian team exiting before the finals. No such problems in sustaining viewer interest in the IPL.
The BCCI believes that the IPL is more important to its well-being, as well. Insurance cover for IPL 4 is Rs.744 crores, a whopping Rs.200 crores more than what was sought for the World Cup.
Another reason for the disparity in rates is that sponsors have a seven-year commitment with the ICC for the World Cup. The IPL seeks a yearly agreement; the advertisers pay what the market demands.
Ad spends have to be budgeted; thus there will be very little overlap between sponsors at the World Cup and the IPL. No firm wishes to burn a hole in their pockets by taking on two blockbuster events.
They may have no choice. The consumer’s memory is a byword for recency.
Quote of the Day
"Now I know what a statesman is; he’s a dead politician. We need more statesmen." - Bob Edwards