The ongoing success of the India cricket team in the ICC World Cup has resulted in a rate hike for advertisers across the Star Sports channels.
According to Exchange4Media, television advertising rates for the ICC Cricket World Cup have already hit an all-time high this year and passed records. It now seems the rates are being increased further.
The report adds that Star is expected to increase their fixed commercial time and is charging premium rates for the limited inventory. It says that the asking price for the semi-finals and finals have gone up to Rs. 40 lakh for a ten-second advert.
Anita Nayyar, CEO India & South East Asia at Havas Media Group, told the publication, “While for regular matches, advertisers have paid anywhere between Rs 10 lakh and Rs 20 lakh (depending on when they bought it and in what package), they are paying as high as Rs 35 lakh for 10 seconds for last-minute inventory, while the asking prices have gone up to Rs 40 lakh/10 seconds.”
India play Sri Lanka next on Saturday (6th July) in the ICC Cricket World Cup.