Cricket World Cup Expects To Generate INR 2000-2200 Crore Ad Revenue: Report Disney Star, which holds the ICC TV and digital media rights till 2023, has announced that it will stream the matches for free on its Disney+ Hotstar app
By Teena Jose
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The brokerage firm Elara Capital's has released a Consumer Discretionary report on the upcoming Cricket World Cup. According to the firm's Senior Vice-President Karan Taurani, the upcoming Men's Cricket World Cup 2023 which India is hosting is expected to generate INR 2,000- INR 2,200 crore in combined ad revenue on TV and digital platforms compared to the INR 1,350 crore it did four years ago in the 2019 edition.
"We expect the Cricket World Cup to generate INR 2000 – INR 2200 in ad revenue on TV/digital platforms combined. The firm pegs digital revenues to more than double from INR 450 crore in 2019 to INR 950 crore in this edition, while TV is expected to rake in INR 1,150 crore ad revenues in 2023 compared to the INR 900 crore it did in 2019," said the firm in the report.
In contrast, digital adex for 2023E CWC may likely grow at least 70% more than the prior editions led by: 1) favorable timings (viewers may watch the first half of the match on OTT), 2) CWC will be available free for all mobile users on Disney+ Hotstar app and 3) better growth in digital advertising versus traditional media. CWC 2023 may see a similar growth as in digital ad spends during the Indian Premier League (IPL) in 2023, stated the report.
In 2019 CWC, digital advertising-led revenue ranged within INR 4,000-INR 5,000mn. Asia Cup may generate TV adex within INR 3,000-INR 4,000mn.
Disney Star, which holds the ICC TV and digital media rights till 2023, has announced that it will stream the matches for free on its Disney+ Hotstar app in a bid to compete with Reliance Industries-backed JioCinema that streamed the IPL cricket matches for free in 2023. Reportedly, the network will also broadcast the matches on its Star network of channels.
