Cricket World Cup 2023 to bring in Rs 2,000-Rs 2,200 cr ad revenues

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The upcoming Men’s Cricket World Cup 2023 which India is hosting is expected to generate Rs 2,000-Rs 2,200 crore in combined ad revenue on TV and digital platforms compared to the Rs 1,350 crore it did four years ago in the 2019 edition. 

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“We expect the Cricket World Cup to generate ~INR 20-22bn in ad revenue on TV/digital platforms combined,” said a note from brokerage firm Elara Capital. The firm pegs digital revenues to more than double from Rs 450 crore in 2019 to Rs 950 crore in this edition, while TV is expected to rake in Rs 1,150 crore ad revenues in 2023 compared to the Rs 900 crore it did in 2019. 

Disney Star, which holds the ICC TV and digital media rights till 2023, has announced that it will stream the matches for free on its Disney+ Hotstar app in a bid to compete with Reliance Industries-backed JioCinema which streamed the IPL cricket matches for free in 2023. The network will also broadcast the matches on its Star network of channels.    

As matches are scheduled to start at 10.30 am or 2pm IST, favourable timings are likely to enhance the overall viewership of the tournament.

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according to Elara Capital’s Senior Vice-President Karan Taurani.  He sees digital revenues getting a significant boost this year.  

“The timings are favourable and viewers may watch the first half of the match on OTT. The World Cup will be available for free for all mobile users on Disney+ Hotstar app. In terms of TV advertising, expect a 6% CAGR versus the prior edition of the CWC in CY19. For the digital medium, CAGR may touch 21% versus 2019 levels,” he said in his note. 

India will be hosting the coveted tournament after a gap of 12 years. This is the first time India will be the exclusive host.  In 1987, it hosted it with Pakistan, in 1996 with Pakistan and Sri Lanka, and in 2011 along with Sri Lanka and Bangladesh. In the 2023 edition, 10 teams will play 48 matches between October 5 and November 19, 2023, across 10 venues. Ahmedabad will host the opening match and the final. 

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England, who won the 2019 edition in a dramatic final which ended in a tie with the super over also ending in a tie, are the defending champions.