CRICKET AND COVID: NOT AD-DING UP?
Even as the IPL gets set to be staged in the UAE, experts say advertisers’ response may be a bit muted due to the economic impact of Covid-19 pandemic
Finally, after lying low for months, millions of cricket fans are ready for some action, albeit only on the cricket field. After all, Indian Premier League (IPL) is confirmed to keep its date with 2020 as the T20 tournament is ready to be staged in the UAE from September 19 onwards. But ad world analysts/experts feel that unlike cricket crazy fans, advertisers’ response may be a bit muted, due to the wideranging economic impact of Covid-19 pandemic, as compared to previous years.
To put things in perspective: in 2019, the IPL ad revenues were estimated to be nearly ₹2,200 crore. But this year, industry analysts say the figure may take a hit of 1520%, to around ₹1,800-1,900 crore. As per an estimate, the official broadcaster would have pocketed a whopping ₹2,800-3,000 crore, if the tournament had kept its original date —March 29. However, now, industry insiders feel “things have to go extremely well” if the advertising revenues are to cross the figure of ₹2,000 crore.
Experts agree that there will be a “Covid impact” but at the same time, feel it’s “great news” that IPL is happening. “Don’t forget people have been hungry for live sporting events, especially cricket,” says Atul Kasbekar, managing director of Bling Entertainment, adding: “Due to Covid-19, a majority of companies went for costcutting in every possible way. And, they may apply the same logic vis-à-vis their ad spends, too. However, since IPL is a premium tournament, corporates will come in. But yes, the figures might be smaller compared to previous years.”
It’s believed that sectors such as automobile, clothing, banking/financial services and F&B etc., which have traditionally been the main source of ad revenues, may not be as enthusiastic this year. But on the other hand, e-commerce and digital firms including OTT platforms/online gaming that have flourished during the lockdown are likely to turn big contributors to the money pie.
“Due to the Covid-19 impact, it’s true that not many sectors have done well in the last fourfive months. So, there will surely be an impact [in terms of ad revenues]. But still, if there’s a big FMCG brand or any new
product, looking to get noticed immediately, IPL can be a great opportunity,” says ad filmmaker and Bollywood director Vinil Mathew.
At the same time, analysts feel, what may come as a major relief for marketers is that the tournament is happening during the festive season, which will give an extra push to the revenues. “IPL and festive season may turn out to be a great combo,” says ad guru Prahlad Kakkar, adding: “In the last four-five months, companies have started focusing in the digital space vis-à-vis ad budgets as it gives a bigger bang for their buck. Plus, youngsters are all over the internet. Still, having said that, IPL is too big a ‘mass brand’ for advertisers to skip.”