Sponsors put up brave face despite India's exit
Rahul Dravid's boys may have bitten the dust at the ongoing cricket World cup in the West Indies, but sponsors who have put in crores of rupees are steadfast in their belief that India's early exit from the cup will not hurt their interest.
"We have invested in the game, not on the India's performance. People will still watch the games despite the virtual exit of India from the tournament," LG, one of the official sponsors of the World Cup, Vice President Marketing and Sales Girish Rao told the agency.
Hutch Chief Marketing Officer Harit Nagpal said, "when the company decides to invest in the game, the probability of winning and losing is taken into account. It is a long term view and there will be no impact at all for us." The company's contract with ICC is for four years, which will give us various opportunities to display our products and services, he said.
Sony Max Business Head Sneha Rajan said the channel would not lose anything in case the Indian team was unable to make it to the Super 8 stage.
"Ad revenues do not depend on India's fortunes in the World Cup. The commercial slots between matches are pre sold," she said.
According to industry estimates, Sony is expected to rake in over Rs 500 crore from advertisements during the 52 matches to be played in the World Cup. It is estimated that a 10 second slot is sold at about Rs 1.5 lakh for the 52 matches.
However, one of the major sponsors PepsiCo India said, the teams performance may have a short term impact on its advertising.