The most awaited sporting event of the year is slated to be an advertising extravaganza on television this festive season. Here are 5 reasons why associating with the Cricket World Cup on television is an unmissable opportunity for advertisers.
1) The Towering Growth of Cricket Viewership and Ratings on Television
Cricket viewership on TV both in terms of reach and ratings has witnessed a meteoric rise in 2023. What makes it more compelling is that the viewership growth has been agnostic of formats whether it be T20, Tests or ODIs. IPL 2023 broke all viewership records on TV delivering a tournament reach of over 500 million viewers and a 34% increase in TVR compared to 2022, as per BARC. The World Test Championship Final recorded the highest ever reach for any test match drawing 124 million viewers, 32% higher compared to the previous final in 2021. In the year of the ODI World Cup, the format recorded a massive 63% increase in TVR, setting up for yet another record-breaking cricket megaevent on television.
2) Proven Might of Cricket World Cup on Star Sports
In the last edition of the ODI Cricket World Cup in 2019 when the overall TV and HD homes penetration was relatively less than what it stands it currently, a mammoth 552 million viewers were reached on television. Any India match during the World Cup delivers an incredible reach of 210+ million, which is more than the total number of online shoppers in India. With India set to play a minimum of 9 and a maximum of 11 matches this time, advertisers are in for a treat. Even Non-India matches are a media plan by itself having reached 380 million viewers in 2019, driving 3.5X higher reach than KBC and 3X higher reach than Bigg Boss.
3) Surging Superiority of HD in Capturing Affluent Viewers
HD continues to be the superlative platform to reach premium audiences with HD homes increasing by 30% (56 Million to 73 Million) and 2X growth in cricket viewers (46 MN to 109 MN) in the year 2023. As per industry sources, HD sponsorship is in high demand for the upcoming World Cup with multiple clients onboarded and closures expected from several more.
4) Power of Collective Viewing in Enhancing Advertiser Impact
Given the heightened level of passion for Cricket World Cups, viewers strongly prefer watching the event on television in the company of friends and family, driving the largest aggregation of collective viewing. Engagement and discussions for brands viewed during ads contribute to higher discoverability and brand recall for ads. As per a YouGov research, co-viewing on TV among friends and family leads to 2.2X higher brand recall among viewers. Additionally, 92% cricket viewers on TV discuss with family or friends before purchasing products. As Indian families often make collective purchase decisions to buy for the household, collective viewing on TV during live sports significantly enhances the impact of brand communications.
5) Differentiated Brand & Business Impact
World Cup on television has powered advertisers to supremacy both in terms of brand and business impact. As per brand lift studies conducted during the World Cup, advertisers have consistently seen an increase in awareness by 2x whereas consideration has gone up by 1.7X. Search interest for brands advertising on TV during the World Cup has seen an uplift to the tune of 2X. Digital first brands like PhonePe, Spotify, Policy Bazaar and MakeMyTrip have developed their respective categories and became market leaders on the back of associations with World Cup on TV.
As per recent media reports, the likes of Coca Cola, Mahindra Auto and HUL have announced their associations with Disney Star with the deals valued over Rs.150 Crore each. The stage is set, and the world is watching; it's a momentous occasion for advertisers to shine on the grandest stage of them all.