Global giants tap Indian consumers, spend $3,600 a second on World Cup ads
Brands are likely to spend about Rs 2,000 crore ($240 million) in advertisement spots on streaming platforms during the tournament, estimates Jehil Thakkar, a partner at Deloitte India
New Delhi
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TMS
Global giants tap Indian consumers, spend $3,600 a second on World Cup ads
India will be hosting the tournament, which begins on Oct. 5 and runs through mid-November, guaranteeing sponsors more than a billion viewers across the world from Europe to Oceania. But it’s the consumers in the world’s most populous nation who are the biggest prize, particularly for foreign brands, said Madan Sabnavis, chief economist at Bank of Baroda.
Brands are likely to spend about Rs 2,000 crore ($240 million) in advertisement spots on streaming platforms during the tournament, estimates Jehil Thakkar, a partner at Deloitte India. A 10-second advertising slot during matches costs up to Rs 3 lakh, a 40 per cent increase compared to the last World Cup in 2019, he said.
“Demand for eyeballs is really strong,” Thakkar added.
Amid an economic slowdown in China and its geopolitical tensions with Western economies, India’s thriving consumer market is emerging as a sweet spot for global companies looking for growth. The South Asian nation is expected to drive a fifth of world economic expansion in the next decade and become.
12:17 PM
Global giants tap Indian consumers, spend $3,600 a second on World Cup ads
India will be hosting the tournament, which begins on Oct. 5 and runs through mid-November, guaranteeing sponsors more than a billion viewers across the world from Europe to Oceania. But it’s the consumers in the world’s most populous nation who are the biggest prize, particularly for foreign brands, said Madan Sabnavis, chief economist at Bank of Baroda.
Brands are likely to spend about Rs 2,000 crore ($240 million) in advertisement spots on streaming platforms during the tournament, estimates Jehil Thakkar, a partner at Deloitte India. A 10-second advertising slot during matches costs up to Rs 3 lakh, a 40 per cent increase compared to the last World Cup in 2019, he said.
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Topics : ICC ODI World Cup 2023
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First Published: Oct 05 2023 | 12:16 PM IST
