2024-07-08 05:58:25
New Delhi: The historic victory of the Indian cricket team in the T20 World Cup is expected to increase the advertising contracts of top Indian cricketers. Sports marketing experts say that this victory will increase the brand value of cricketers. They will get new advertisements. Sports marketing agencies like Rise Worldwide are also preparing to take advantage of this victory. Rise Worldwide is India’s leading sports marketing agency. It manages big cricketers like Rohit Sharma, Jaspreet Bumrah, Suryakumar Yadav and Hardik Pandya. These cricketers together advertise 89 brands in 35-40 categories. This agency had already made about 10 advertising deals before the World Cup. It is expected to increase further in the coming days. Nikhil Bardia, head of Rise Worldwide, said, ‘The T20 World Cup victory has accelerated the deals that were being negotiated.’ The price of these deals will depend on market conditions and the brand image created by the cricketers.
Fees of top cricketers right now
Industry sources said top players like Sharma and Virat Kohli charge between Rs 3.5 crore and Rs 7 crore per deal, while other top players like Bumrah, Yadav and Pandya command deals in the range of Rs 2-3 crore.
Tuhin Mishra, MD of Baseline Ventures, believes that the big players, especially the batsmen, will benefit the most in terms of advertisements after India’s T20 World Cup win. However, he hopes that this time the bowlers will also get recognition for their excellent performance in the recent World Cup and the ODI World Cup in 2023.
How much market share sports marketing agencies are able to capture for their clients will also play a key role in determining the advertising landscape.
World Cup victory gave a golden opportunity
Aviral Jain, MD, Valuation Advisory Services at Kroll, believes that this long-awaited win by India in the ICC event has provided a golden opportunity for the cricketers to attract new brands and gain global endorsements.
He expects double-digit percentage growth in the brand portfolio and an increase in advertising fee levels. Given their current brand value, this is estimated to increase by 15-20 per cent. Despite the sluggish advertising market, Jain believes that cricketers will remain a popular choice for brands during the upcoming festive season, as brands increase their advertising spends during this period.