Advertisement rates skyrocket for today's India-Pakistan Champions Trophy clash
By Swaroop Swaminathan | Express News Service | Published: 18th June 2017 06:15 AM |
CHENNAI: One crore. That’s the amount a few advertisers have paid to grab eyeballs during the final of the Champions Trophy on Sunday. Industry sources have confirmed to Express that ad-rates skyrocketed after it became clear that the match would be between India and Pakistan.
“For a 30-second slot, the rates are now anywhere between 75 lakhs to one crore,” an industry insider told Express.
“I think 95% of the ad inventory (available ad space) was sold before the identity of the finalists was known. There was 5% left and that was sold once the final was set.”
The bump in ad rates is to be expected because of the gravitas of the fixture and the guarantee of a record number of viewers.
“In India alone, close to 225 million are expected to watch the final,” another source said. For perspective, 201 million saw the same fixture in the group stage last week.
Former England captain Michael Vaughan accurately predicted the reactions inside boardrooms of TV executives as soon as the final was confirmed.
“India V Pakistan final,” he had tweeted. “All TV execs around the world are now cracking a nice bottle open to celebrate.”
The cricketer-turned-commentator has a point. The average rate for a 30-second ad slot at big-ticket cricket events is Rs 10 lakh. For advertisers who haven’t pre-booked their slots, they will be paying 7.5x to 10x the average price.
While multiple sources have indicated that the match could break records for ad revenue, the figure is minuscule when you compare it to events like the Superbowl (this is not exactly fair, as Superbowl’s commercials have a budget bigger than some football clubs).
For example, advertisers had to cough up somewhere between $5mn to $5.5 mn for a 30-second slot this year.
The same was true for the Oscars in 2016, with companies paying $2mn for a 30-second block to get a look in. Even sticking to sports, cricket is nowhere near when it comes to topping the ad revenue charts – that honour, predictably, goes to football. More days like Sunday, though, can close the gap.