Everyone wants a pie of World Cup- lessons from IPL
Blame it to IPL, Cricket is no more a One day format monopoly and thanks to IPL for exposing various innovative revenue models around a game called ‘Cricket’.
If you look at today’s One-Day Cricket format it looks like its fighting a battle for survival- 3 powerplays, Free hit after a no-ball and players psyche to hit every ball for a six. All of these changes are a result of IPL.
But one very important thing which caught everyone’s attention- Multiplexes showing Cricket matches and charging 50-100% more for showcasing the same.
Now with India coming into semis and that too against Pakistan, Multiplexes are aggressively approaching ESPN Star Sports to buy the rights. Cinemax recently did a fixed fee deal with ESPN Star Sports to showcase all the matches from now onwards.
On the other hand PVR cinemas because of its larger reach was able to strike a 50:50 revenue sharing deal with ESPN Star Sports. As quoted:
We have got an overwhelming response, recording three houseful bookings across our properties. Other centres too recorded more than 60 per cent footfalls. On an average, we had a total occupancy between 24 and 25 per cent. For the remaining matches, our expectancy is 45 per cent.
Multiplexes are also increasing the rates seeing a surge in demand. With tickets in Mohali already sold out (mostly to VIPs) and getting blacked from Rs. 10,000 to Rs. 100,000 fans have no where to go but Cineplex to enjoy the match in a better way and with a community.
These changes are good from both organizers as well as Cricket’s point of view. What’s your say?