ICC T20 2024 World Cup’s Media Rights: A Money-Minting Entity to Hold On To
🔍Insights
With the ICC World Cup 2024 underway, cricket fans everywhere are glued to their televisions and smartphones, ready to witness all the thrilling matches. Everything that has been presented during live broadcasts is merely the surface of what lies beneath; an entire ecosystem is responsible for these broadcasts. Companies just make sure that every touchpoint has been examined, starting from securing media rights from the ICC and airing the matches.
The media rights to air the broadcasting firm purchases any ICC events for a substantial sum. The corporation then makes money through advertisements or by negotiating contracts with co-sponsors. Since the vast majority of Indians are avid cricket fans, many firms have spent a lot of money on securing media rights for the Indian market. This presents a fantastic potential for them to increase their revenues even higher.
Disney Star All Eyes up for More Than 1600 CR Ad Sales
Disney Star Is Reshaping the T20 World Cup Advertising Pricing
Disney Star Joins Forces With 19 Sponsors
Disney Star All Eyes up for More Than 1600 CR Ad Sales
Disney Star, the official media rights holder for this season's ICC Men's T20 cricket World Cup, is expected to earn approximately INR 1,600-1,800 crore in advertising income, comparable to the amount they made during the last event in Australia two years ago. Forecasts indicate that the broadcaster's advertising roster will mirror that of the current Indian Premier League. Disney Star anticipates winning over prominent sponsors like those seen in the BCCI-backed cricket tournament IPL, even though it is still inking deals and is in the final stages of selling around 40% of its advertising spot inventory already.
Ajit Varghese, the executive vice president of advertisement sales, stated that broadcasters have witnessed a notable increase in interest in the gaming, banking, and finance services sectors inside cricket, both last year and this year. Additionally, industrial items and infrastructure will also prove to be formidable categories for advertisements. Interestingly, fast-moving consumer goods businesses' contributions to cricket revenue have increased from single digits to significant double digits.
Disney Star Is Reshaping the T20 World Cup Advertising Pricing
Disney Star has reduced advertising fees for the 2024 ICC Men's T20 World Cup in comparison to the 2022 tournament. The television network is requesting prices from advertisers of more than INR 6.2 lakh for each 10-second spot, with spot buyers paying an additional INR 6.4 lakh per spot. For the 2022 event, the broadcaster asked sponsors and spot buyers for ad rates of between INR 9 to 10 lakh, respectively.
Advertisements for each Twenty20 World Cup game fell 47% from the previous year, according to a recently published media report. The Disney Star is requesting donations of more than INR 60 million from co-presenting sponsors for both SD and HD channels, after successfully bidding $3 billion for the 2024–27 cycle to acquire media rights in India.
Ria Sahni
Disney Star Joins Forces With 19 Sponsors
Disney Star has recently disclosed its 19 sponsors for the 2024 ICC Men's T20 World Cup. Dream 11, Maruti, AMFI, Parle Products, BPCL, Haier, ICICI Bank, Jockey, KP Group (Kamala Pasand), Reliance Retail, Samsung India, Housing.com, Jaquar Group, Castrol, Kent RO, TVS Eurogrip, Macho Hint, and McNroe are some of the brands that are included in this category. In addition to the knockout matches, it is anticipated that the match between India and Pakistan that will take place on June 9 will be the most watched match of the tournament.
This diversified set of sponsors demonstrates the longstanding popularity of cricket as well as the strategic importance of sports consumption and the supply of creative content. As preparations are being made for this monumental event, we are looking forward to an incredible celebration of cricket that will bring together ardent fans and players from all over the world, Varghese said.
The matches will be broadcast solely on the Star Sports network, and they will be accessible to mobile subscribers of Disney+ Hotstar for free streaming.
FAQs
Where is the ICC Men's ODI World Cup 2024?
The ICC Men's ODI World Cup 2024 is in The United States and West Indies from June 1 to June 29.
What is the prize money for winning the 2024 T20 World Cup?
The International Cricket Council has announced a record prize of USD 11.25 million (approximately INR 93.5 crore) for the 2024 T20 World Cup.
How many teams are there in the T20 World Cup 2024?
There are 20 teams which are divided into four groups in the T20 World Cup 2024.
