With the ICC Cricket World Cup 2023 just around the corner, global giants are spending big on advertising. According to a report by TAM Media Research, advertisers are spending Rs 3 lakh a second on advertising related to the tournament.
The report states that the majority of the advertising spend is coming from the FMCG, telecom, and automobile sectors. These sectors are targeting the large and passionate cricket fan base in India and around the world.
Some of the biggest brands that are advertising during the Cricket World Cup include Coca-Cola, Pepsi, Vodafone, Airtel, Samsung, and Maruti Suzuki. These brands are using a variety of media channels to reach their target audience, including television, print, digital, and social media.
The report also states that the advertising spend on the Cricket World Cup is expected to increase further in the coming weeks as the tournament gets closer.
(Image of the ICC Cricket World Cup 2023 logo)
Analysis:
The high level of advertising spending on the Cricket World Cup is a testament to the popularity of the tournament and the value of the cricket fan base. It is also a sign of the growing Indian economy and the increasing disposable incomes of Indian consumers.
The advertising spend is likely to have a positive impact on the Indian economy. It will create jobs in the media and advertising industries, and it will boost sales of consumer goods.
The advertising campaigns are also likely to have a positive impact on the Cricket World Cup itself. They will help to generate excitement and anticipation for the tournament, and they will attract new fans to the sport.
