Despite the disappointment of not clinching the cup, advertisers exhibited remarkable resilience during the ICC Men’s Cricket World Cup 2023. Industry experts note that the season surpassed expectations in terms of both ad volumes and expenditure.
According to an anonymous leading media buyer, the financial success of the season was evident, with ad expenditure totaling between Rs3200 crore to Rs3300 crore. The festive season, a commercial powerhouse, amassed Rs3700 crore, with the World Cup contributing a notable 7 to 8 percent to this figure.
As the series reached its climax, there was a frantic last-minute rush for ad slots, leading to premiums soaring to Rs30 lakh to Rs45 lakh per ten seconds. This surge in demand was fueled by the exceptional value placed on the teams’ journey to the finals, and advertisers bet heavily on the attention it garnered across markets.
The finale, particularly the India-Australia match, witnessed a remarkable 30 percent surge in ad spends, with the semi-final between India and New Zealand closely following in both spends and volumes.
In terms of ad volumes, TAM Sports reported an indexed growth of 17 percent from all matches in the ICC Men’s Cricket World Cup 2023 compared to the 2019 season. The analysis, based on pure advertising and excluding franchisees, promos, filler, film trailers, and official broadcaster content, covered advertising across 16 channels.
The data revealed an increase in the number of categories from 75 plus to 105 plus, advertisers from 90 plus to 95 plus, and brands from 170 plus to 225 plus during the 48 matches of the season. The top advertising categories included e-commerce, perfumes, cars, soft drinks, and pan masala.
Top advertisers for the 2023 World Cup were Vine Product (Fogg), FX Mart, Mahindra & Mahindra, Coca Cola, and Hindustan Unilever. New categories saw 55 plus entrants, with top newcomers including anywhere banking, paints, footwear, consumer durables/home appliances, and banking services and products.
The season saw an exceptional 215 plus new brands, with Bharat Petroleum Mak, Kamla Pasand Silver Coated Elaichi, Indusind Bank Indie App, Vi Cellular Phone services, and Apple iPhone 15 Pro leading the way.
A media buyer with expertise in television and digital noted that allocating 10-20 percent of yearly advertising budgets to high-impact events like the ICC World Cup and IPL is common. However, for this World Cup played on home grounds, brands went above and beyond, dedicating as much as 30 percent of their annual funds to the tournament.
The increased advertising expenditures were attributed to the tournament’s ability to engage diverse target audiences, enhance reach and frequency, and leverage various media platforms (TV, digital) and language feeds (Hindi, English & regional).
Regarding language feeds, brands of Hindustan Unilever (HUL) dominated Hindi+English language sports channels and regional language sports channels, with top brands including Lux Jasmine & Vitamin C+E, Cadburys Celebrations, Close Up Ever Fresh, Kent Mineral Ro, Boost, Indulekha Svetakutaja Dandruff Treatment Oil, Pepsodent Germi Check, Surf Excel Quick Wash, and Amul Taaza Milk. Among the 168 common brands between these categories, Phonepe, Fogg, Bharat Petroleum Mak, Puro Healthy Salt, and Kamla Pasand Silver Coated Elaichi topped the charts.
