The India-Pakistan World Cup cricket semi-final is here, and advertisers have turned Wednesday's big match into a one-shot solution for brands.
"Today is one of a rare event when brands are created within a day," said Sai Nagesh, executive vice-president, Dentsu Media.
According to the media buyers, many clients who earlier avoided the cup because of their smaller budgets are now keen despite the steep rate of Rs. 18 to 22 lakh per 10 seconds because of the semi-final's potential to reach the better part of 70 million cable TV homes.
"Cricket betting is not allowed here but advertisement betting is still on," said Santosh Sood, an independent marketing consultant.
Media industry officials said broadcaster ESPN Star Sports had offered a minimum of 18 matches in ad packages. The rule is being relaxed in the cup's final stages, though the four-slot per match curb stays.
Under the old rules, the minimum an advertiser would have spent was Rs. 7.5 crore at Rs. 3.5 lakh per 10 seconds, whereas even at the enhanced rate of Rs. 18 lakh an advertiser can buy the last two games at Rs. 2 crore per match.
"At this stage, there is a very strong opportunity for new buyers," said Basab Dutta, CEO, Madison India.
However, creative director Piyush Pandey at Ogilvy & Mather said it was key that India wins the match.
"Otherwise, advertisers may end up blowing up lot of money," he said.