Global corporations are investing substantial amounts of money to gain visibility during the Cricket World Cup in India, as this sporting event provides an ideal opportunity for brands to tap into the cricket-loving nation of 1.4 billion people.
Cricket World Cup in India – A Golden Opportunity for Global Brands
India is hosting the tournament, commencing on October 5 and lasting until mid-November, ensuring sponsors access to over a billion viewers worldwide, from Europe to Oceania. The most significant prize, especially for foreign brands, is the consumers in the world’s most populous nation, according to Madan Sabnavis, the chief economist at Bank of Baroda.
Brands are projected to spend approximately 20 billion rupees ($240 million) on advertising slots on streaming platforms during the tournament, estimates Jehil Thakkar, a partner at Deloitte India. A 10-second advertising slot during matches costs up to 3 million rupees, a 40% increase compared to the last World Cup in 2019.
“Demand for eyeballs is really strong,” added Thakkar.
Amid China’s economic slowdown and geopolitical tensions with Western economies, India’s thriving consumer market is becoming an attractive growth spot for global companies. The South Asian nation is expected to contribute one-fifth of global economic expansion in the next decade and potentially become a $10 trillion economy by 2035, according to some forecasts.
Cricket’s Dominance in India: A Magnet for Global Brands During the World Cup
Cricket stands as the undisputed favourite sport in India, with an annual sponsorship and media spending exceeding $1.5 billion, constituting a whopping 85% of the total expenditure on sports-related activities.
“While cricket may not enjoy the same level of international attention as sports like soccer,” Sabnavis remarked, “the sheer enthusiasm and excitement it generates within India are unrivalled.”
Among the brands advertising during the World Cup are major corporations like Coca-Cola Co., Alphabet Inc.’s Google Pay, and Unilever Plc’s India unit Hindustan Unilever Ltd. Official partners of the ICC (International Cricket Council) include Saudi Aramco, Emirates, and Nissan Motor Co.
The line-up of brands reflects a shift back to more traditional sectors such as consumer goods, automobiles, and phones, as education technology and online betting companies that were once prominent sponsors have reduced their spending due to debt and regulatory concerns.
Disney Star, which holds exclusive TV broadcast rights for the World Cup in India, has announced partnerships with 26 sponsors, including Booking.com BV and liquor company Diageo Plc.
The Indian economy is also set to receive a substantial boost in household spending during the World Cup, as fans travel for matches, watch them in venues like restaurants and bars, or order takeout at home. Hotel rates have increased by an average of 150% on days when India is scheduled to play.
Companies are also anticipating a robust December quarter as the World Cup coincides with India’s festive season, which extends from September to January. Diwali, for instance, falls in mid-November, just as the tournament concludes.
“The Cricket World Cup is the biggest sporting event of the year for fans across the country,” said Yannick Colaco, co-founder of FanCode, the International Cricket Council’s official retail partner in India for the event. “No other sports tournament captures the hearts and minds of Indian fans like a World Cup. That’s why you see brands and companies eager to associate with the tournament.”
