Unprecedented Growth in Ad Volumes
The ICC Cricket World Cup 2023 (CWC’23) marked a pivotal shift in the realm of commercial advertising. A detailed analysis by TAM Sports revealed a significant 17% increase in average ad volumes per match compared to the 2019 edition. This escalation was evident across 16 channels, focusing solely on live matches and excluding surrounding programming.
Indian Matches: A Hotspot for Advertisers
A standout feature was the dominant ad volume share during Indian matches, especially in high-stakes games like the semi-final and final. This attraction to Indian fixtures was a clear testament to the market’s vitality and the high viewership of these matches.
Surge in Categories, Advertisers, and Brands
The ICC CWC’23 witnessed a surge in diversity with a 42% increase in the number of categories, a 3% rise in advertisers, and a 34% growth in brands. This expansion indicates a broadening interest and investment in cricket’s advertising potential.
Sector-Specific Insights
The top five sectors accounted for a substantial 71% share of the ad volumes. Notably, the Banking, Financial Services, and Insurance (BFSI) sector saw a remarkable ascent, signaling a shift in sectoral advertising trends.
E-commerce and Two-Wheelers: Leading the Charge
Ecom-Wallets and Two Wheelers led the way in ad volume growth. Two Wheelers, in particular, saw an astonishing 42-fold increase, highlighting the sector’s aggressive marketing strategy during the tournament.
Consistency and Innovation in Top Categories
Perfumes/Deodorants, Pan Masala, and Ecom-Wallets remained consistent top players from the 2019 edition. This continuity underscores their enduring appeal and strategic importance in cricket advertising.
The Rise of New Brands and Categories
The introduction of over 55 new categories and 215 new brands in CWC’23, including notable entries like ‘Bharat Petroleum MAK’ and ‘Kamla Pasand Silver Coated Elaichi’, reflected the evolving landscape and the tournament’s ability to attract diverse advertisers.
Dominance of Hindustan Unilever and Phonepe
Hindustan Unilever (HUL) and Phonepe emerged as prominent advertisers, marking their strong presence across both national and regional sports channels. Their strategic positioning highlights the significance of cricket as a unifying platform for diverse advertising strategies.
The ICC Cricket World Cup 2023 not only celebrated the sport’s global appeal but also underscored its growing importance as a lucrative platform for advertisers. The tournament’s ability to attract a wide range of sectors, from BFSI to E-commerce, and the significant rise in ad volumes and brand participation, reflect the dynamic and evolving nature of sports advertising. This trend suggests a promising future for commercial advertising in cricket, offering exciting opportunities for both new and established brands.
