New Delhi: With T20 cricket becoming a big hit, sports broadcaster ESPN Star Sports is understood to have hiked the advertisement rates by up to 50% for the upcoming ICC World Cup for the shortest form of the game, asking over Rs500,000 for a 10-second spot.
According to industry sources, ESPN Star, which was earlier selling spots at Rs3-3.25 lakh, is now asking for more than Rs 5 lakh for a 10-second spot and is aiming at revenues of over Rs240 crore from the ICC T20 World Cup.
The tournament, to be held in England, begins on 5 June and ends on 21 June.
“This increase stems from the fact that the broadcaster is already sitting pretty with more than 90% of the inventory sold with more than a month left for ICC World T20 to commence,” a source said.
When contacted, Sanjay Kailash, executive VP (Advertising Sales and New Media), ESPN Software Pvt Ltd, said, “Though I cannot talk specifics, we are indeed selling the balance inventory at a premium; we feel that the event demands such a premium given the popularity of T20.”
The broadcaster has signed up more than 30 clients for the telecast related to the tournament, including 10 sponsors.