The ongoing ICC Cricket World Cup 2023, hosted by India, has attracted numerous brands, both established and newcomers, in both the television and digital realms. In a noteworthy shift, this year digital platforms have gained prominence.
The digital streaming of the World Cup on Disney+ Hotstar boasts a total of 19 sponsors, co-powered by Mahindra & Mahindra and Dream11. Among the digital streaming associate sponsors are Booking.com, Surf Excel (HUL), Peter England, Thums Up, Kingfisher Premium Packaged Drinking Water, Diageo India, MRF Tyres, LendingKart, BPCL, Herbalife, Haier Appliances, Pernod Ricard India, AMFI, Google Pay, PhonePe, Amazon, and Parle Biscuits. Notably, 11 of these 19 sponsors exclusively choose the digital platform, including well-established brands like MRF Tyres and Parle Biscuits.
Amazon and Haier are two prominent brands that have opted for a digital-only approach. In contrast, brands like PhonePe, HUL, and BPCL are present on both TV and digital platforms. TV, on the other hand, has 15 sponsors for this year’s event.
Several factors contribute to the increased advertiser interest in digital for the ICC Cricket World Cup 2023. One primary reason is the availability of free mobile streaming, which offers viewers flexibility and convenience. Additionally, the digital platform typically offers a lower entry point for advertisers compared to TV. Experts suggest that digital advertising is often more cost-effective and efficient than TV, though the choice ultimately depends on the brand’s specific goals.
Digital is offering more predictability as advertisers only pay for actual viewership. In the context of an unpredictable event like the World Cup, where India’s performance can greatly impact returns on TV advertising, digital emerges as a more efficient option.
Coca-Cola, a major tournament sponsor, has chosen to advertise on both TV and digital. This is because both mediums have unique roles in connecting with consumers. Digital provides the flexibility of watching matches on various devices, while some audiences still prefer the traditional TV experience with their families.
Some brands, like Booking.com, invest significantly in digital advertising. For Booking.com, digital has been a stronghold due to its origins as an online brand. The brand aims to remain relevant to both partners and consumers through digital and social media marketing.
The availability of free mobile streaming is not the only reason for advertisers’ digital attraction. The cost of digital advertising is often lower than TV, making it an appealing choice. Digital viewership has been on the rise, and with free streaming, more viewers opt for digital over TV.
Brands are bound to make choices between TV and digital based on their targeting preferences and budget considerations. Which is why connected TV is gaining prominence and delivering significant results, particularly for brands seeking specific audience targeting.
In conclusion, the 2023 ICC Cricket World Cup has seen a surge in brands choosing digital platforms due to factors like cost-efficiency, free mobile streaming, and the ability to target specific audiences. This shift underscores the evolving landscape of advertising in the digital age.
