Disney+Star eyes closing deals worth over Rs 4,200 crore this World Cup
With 75-80 percent of the ad inventory claimed to be booked, and a week still to go until the ICC Men's Cricket World Cup, prices have jumped 20-25 percent from the initial closure price.
Excitement is building up among cricket fans, and that is pushing advertisers to spend generously on ads this time in the ICC Men's Cricket World Cup. Advertisers across categories are putting their ad dollars in the World Cup ad inventory for reach, buzz, and engagement.
“With a surge in demand, Disney+Star is looking to close deals amounting to more than Rs 4,200 crore,” said Sarfaraz Ansari, Senior Vice President, Integrated Media, DDB MudraMax.
According to Ansari, in the last World Cup, Star Network was able to generate Rs 2,500 to 2,800 crore. However, this year, even before the tournament, Disney+Star is expected to generate Rs 3,500 to 3,700 crore across both broadcast and digital. However, this is a dynamic number, with some experts saying Star has surpassed this range already.
“Given the excitement and inquiries from clients, we can project that, compared to last year, the current CWC (cricket world cup) will experience an upward trend of 20-25 percent in both pricing and revenue,” he said.
Anticipated to reach Rs 30 lakh for a 10-second slot, advertising rates for the World Cup are poised to surge further, close to the tournament. The substantial increase in inventory sales is driven by the event's widespread popularity and its coinciding with the festival season. Notably, the highly anticipated India-Pakistan match on October 15 has led Star to devise special packages for selling premium inventory around this key fixture.
With almost 75-80 percent of the inventory claimed to be booked and a week still to go before the tournament, prices have seen a steep rise — almost a 20-25 percent jump from the initial closure price, said experts.
Speaking of special packages, according to Ansari, what has changed for Disney+Star this time is their realisation and acceptance of the reality that they can no longer work on a pick-and-choose model.
“They must now accommodate large, medium, and small players who dream of seeing their brand in this mega cricketing event. Therefore, this season, they have designed customised packages to cater not only to large advertisers but also to medium- and small-scale advertisers, especially on the digital platform,” he said.
Initially cautious due to early apprehensions, subdued excitement during the IPL, and a slow Asia Cup in terms of sales, Star approached the start of this cricket World Cup season with caution.
However, as enthusiasm grew and significant deals were negotiated, prices began to ascend. Disney+Star has already revised costs, citing several reasons for the rate adjustments. With the World Cup returning to India after 12 years and heightened advertiser interest following the successful IPL and Asia Cup in terms of ratings, there's a substantial anticipated spike in viewership for this season.
Rohit Malkani, Joint National Creative Director at L&K Saatchi & Saatchi, agreed.
“This is the biggest cricketing spectacle, and it’s happening on home soil! There is some serious jingoism flying around. 1983, followed by 2011 (28 years later), and now 2023 (12 years later). Will the cup stay at home? It’s only natural for advertisers to want a piece of the action, whether India reaches the final or not. You’re looking at 45-odd days of viewing and a captive audience to be won. I can’t think of a better opportunity to tell the world about my brand,” he said.
