Formula 1 seats not hot, but ad spots are | business | Hindustan Times
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Formula 1 seats not hot, but ad spots are

business Updated: Oct 26, 2012 21:51 IST
Himani Chandna Gurtoo

The clamour for tickets might be missing from the second Indian season of world's hottest motor sport event, the Formula One Grand Prix, but advertisers jostled and booked air time for the event about seven months earlier.

"We had blocked the entire inventory by the beginning of March," said Sanjay Kailash, executive vice-president, ESPN Software India.

"The live telecast of the first edition of India Grand Prix generated TV ratings which were at least 4 times higher than the TV ratings generated by next best GP."

Petronas, Samsung and Vodafone are among sponsors of the event whereas 14 other advertisers.

"The rush of premium advertisers is obvious as the event is the only medium to reach the Indian elite," said Kapil Arora, country head for Vodafone account at advertising firm Ogilvy and Mather.

But whatever the charms of Formula One, cricket stays way above despite a string of Indian defeats this year. Besides, F1 slots cost only a fraction of prime cricketing events.

"Broadcasters have priced the slots at the same rate as last year Rs. 1.25 lakh per 10 seconds, knowing the tendency of advertisers," said a media buyer.

In contrast, ad slots for World Cup cricket went for Rs. 25 lakh per 10 seconds, while the IPL's fourth season fetched Rs. 8 lakh per 10 seconds.