MUMBAI: Advertisers in India should expect "a substantial hike" in their ad rates as the national cricket team progresses through to the semi-finals of the ICC Cricket World Cup, industry insiders have revealed.
The six-week tournament, jointly hosted by Australia and New Zealand, is now in the knockout stage and defending champions India soundly defeated Bangladesh in their quarter-final clash on Thursday.
With India now through to next week's semi-finals, media-planning sources told Indiantelevision.com that broadcaster Star Sports is looking to raise ad rates by at least 7% to 10%.
However, as they were speaking before India made it through to the semis, there remains the possibility that rates could rise still higher.
"From the semi-final stages, we will have a number of fresh sponsors and advertisers coming in as numerous deals at the earlier stages were signed only till the quarter-final stage," said an unnamed source at Star Sports. "The rates will certainly see a substantial hike."
Vinit Karnik, director of entertainment, sport and live events at media planning network GroupM, agreed that ad rates are likely to rise significantly.
"India's performance in the triangular series Down Under was below par, which resulted in a slow beginning to the World Cup in terms of advertiser participation," he said.
"However, as India started playing well, the tournament gained momentum. Now in the knockout stages, the demand is high and naturally Star will increase the ad rate substantially," he added.
The Indian cricket team will now await the outcome of the match between Australia and Pakistan to know who its opponents will be in the semi-finals. If Pakistan, then viewers can expect a traditionally intense spectacle.
Data sourced from Indiantelevision.com; additional content by Warc staff