Despite the blow dealt to the IPL brand by the spot-fixing and betting charges, advertisers and sponsors may not pull out for the simple reason that the cricket tournament continues to remain the richest sport event and most sought-after TV extravaganza in the country
They represent the cream of India Inc.
From Pepsi and Vodafone to Star TV and home-grown Videocon, 70 leading advertisers and 12 sponsors splurged nearly Rs 1300-crore in the Indian Premier League (IPL), which concluded last week.
That is a lot of money to put into one property.
But everyone was lured by the need to connect with India's masses.
In just two months during which the tournament was played, IPL took in one-third of the total monthly spend on TV advertising across all genres and channels (average monthly spends on TV advertising is Rs 1350 crore).
And if you took the entire advertising on TV, print, Internet, ground promotions and bill boards, the 6th edition of IPL was able to grab one-fifth of the total.
Text: Surajeet Das Gupta, Business Standard
Images Courtesy: PTI, AP, Reuters and BCCI