A double-digit drop in the viewership of the ongoing season of the Indian Premier League (IPL) doesn’t seem to be worrying the advertisers as they are willing to shell out upwards of Rs 25 lakh for a ten-second slot during the playoff matches.
“The lower ratings of IPL this year haven’t really impacted the rates negatively. Playoffs ad rates are typically double of the league matches. Right now, what Star India is asking is Rs 25-26 lakh per 10 seconds,” said a senior executive of a media agency.
Not only this, but for finals, the ad rates for a ten-second slot are likely to climb up to Rs 35 lakh.
“For finals, the 10-second ad rate ranges between Rs 30-35 lakh depending on the inventories, demand and popularity of teams playing,” the executive added.
There were doubts that the ad rates would go down in the light of the shrinking viewership. In the opening week itself, IPL saw a 33% drop in its viewership. Many questioned the high prices of media rights and sponsorships that is being charged for the property.
What’s propelling the advertiser interest if the viewership is falling? Answering this, a CEO of a large-sized media agency said, “There are a lot of start-up kind of clients this time on IPL for whom visibility is paramount and they are not die hung on ratings. They use ratings for negotiations but if they need visibility, they will buy it.”
This is the last season of the Indian Premier League on Star Network and Disney+ Hotstar before the BCCI auctions the media rights for 2023-2027.
IPL 2021 had clocked in Rs 2,950 crore in advertising. This year, despite the shrinking viewership, the broadcaster is likely to make upwards of Rs 3,000 crore.
Owing to the uncertainty because of Covid last year, Star India had played safe and barely left the scope for last-minute spot buying.
This year, the IPL ratings have been negatively impacted for multiple reasons. Big players and teams, like Mumbai Indians and Chennai Super Kings, haven’t been able to win their matches. Plus, there has been no controversy, and no big talking point around IPL this year.
According to experts, the viewership is likely to pick up as the tournament moves towards the finals which is slated to be held on May 29.
“The momentum picks up in the last ten days. That’s what we are set to experience now. There are ten matches remaining and even one talking point can reignite viewer interest,” said a former BCCI official.