Sony Pictures Network (SPN) and Star India are eyeing combined revenues of about Rs 1,500 crore from the two cricket extravaganzas â€“ World T20 and IPL â€“ over a span of 90 days. While SPN is aiming for Rs 1,200 crore from the IPL 2016, Star India is hoping to earn Rs 300 crore from the ICC WorldT20.
The 9th edition of the Indian Premier League (IPL 2016) will be played from April 9 to May 29 and is expected to generate enough interest, notwithstanding the controversy surrounding Vijay Mallya, owner of Royal Challengers Bangalore (RCB), one of the eight IPL teams.
"We have had unprecedented interest in IPL... despite this being a World Cup year. The IPL has reached a mature stage today and advertisers like that because you know at the beginning of the tournament what your return on investment will be, because the ratings are fairly steady," PTI quoted SPN India President Rohit Gupta as saying.
"This is the first time that two months before the start of the tournament we have sold out, which has never happened before," he added. SPN said it has hiked advertisement rates by 15 percent this year; a 10-second ad spot in the IPL ranges from Rs 5.50 lakh to Rs 5.75 lakh on standard definition channels.
The IPL 2016 matches will be broadcast on Sony MAX and Sony SIX.
On Wednesday, Sony Pictures Networks India unveiled the new campaign for the 9th edition of the IPL (VIVO IPL) in Mumbai. The theme for the IPL 2016 is "Ek India Happywala," according to a press statement issued by the network.
ICC WorldT20 matches
Star India is projecting advertisement revenues from the eight-nation tournament at about Rs 300 crore, according to a Mint report.
Citing media buyers, the daily said four presenting sponsors â€“ Indian e-commerce firm Flipkart, Nissan Motors India, Chinese smartphone maker Oppo and one another firm â€“ will be paying Rs 25 crore each to Star India. In addition, the eight associate sponsors will be paying between Rs 15 crore and 20 crore each, and these include PepsiCo Holdings and Cadbury.
The World T20 began on March 8 and will end April 3.