Global corporations are investing significant sums to gain visibility during the upcoming Cricket World Cup in India. With this sporting event providing an ideal opportunity for brands to tap into the cricket-loving nation of 1.4 billion people, India’s hosting of the tournament from October 5 to mid-November guarantees sponsors exposure to over a billion viewers worldwide, spanning Europe to Oceania. The primary focus for foreign brands is the consumers within India, given the country’s massive population.
Projections suggest that brands will collectively spend around Rs 2,000 crore ($240 million) on advertising slots across streaming platforms during the tournament. According to Jehil Thakkar, a partner at Deloitte India, a 10-second advertising slot during matches can cost up to Rs 3 lakh, marking a 40 percent increase compared to the 2019 World Cup. The demand for viewership is notably high, reflecting India’s status as a burgeoning consumer market.
Amid China’s economic slowdown and geopolitical tensions with Western economies, India’s thriving consumer market is becoming increasingly attractive to global companies seeking growth. Some estimates suggest that India will drive a fifth of world economic expansion in the next decade and reach a $10 trillion economy by 2035.
Cricket reigns supreme as the most popular sport in India, attracting over $1.5 billion in sponsorship and media spending annually, accounting for 85 percent of all sports-related spending, according to Jefferies research. Madan Sabnavis, Chief Economist at Bank of Baroda, emphasizes that while cricket may have less global fanfare compared to sports like soccer, the unparalleled fervor it garners in India sets it apart.
The list of brands securing airtime during the World Cup includes prominent corporate names like Coca-Cola, Google Pay (Alphabet Inc.), and Hindustan Unilever Ltd. (Unilever Plc’s India unit), while the International Cricket Council’s official partners comprise Saudi Aramco, Emirates, and Nissan Motor Co.
Jehil Thakker notes a shift in the roster of brands, with a return to more traditional sectors such as consumer goods, automobiles, and phones. This comes as education technology and online betting firms, which were previously major sponsors, reduce spending due to debt and regulatory concerns.
Disney Star, the exclusive TV broadcaster for the World Cup in India, has partnered with 26 sponsors, including Booking.com and Diageo Plc.
In addition to the boost in advertising and corporate sponsorship, the Indian economy is set to receive a significant boost in household spending during the World Cup. Fans are expected to travel for matches, watch them in venues like restaurants and bars, or order takeout at home. Hotel fares have surged by an average of 150 percent on days when India is scheduled to play.
Companies also anticipate a robust December quarter, as the World Cup coincides with India’s festive season, which spans from September to January. Diwali, a major festival, falls in mid-November, aligning with the tournament’s conclusion.
“The Cricket World Cup is the biggest sporting event of the year for fans across the country,” says 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, which is why you see brands and companies eagerly associating themselves with the tournament.”
