Before the Indian Premier League (IPL 2020) season 13th was indefinitely postponed in the month of March, the broadcaster Star India was looking all good to cross magical number of 3000 Cr in revenues for IPL. With almost 70%-75% of the inventory sold out even before 30 days before the season, Star Sales team was sitting pretty and the internal target of 3000 Cr was looking achievable.
But what now ?
In the last 5 months Covid19 has impacted lives of each and every individual and in the process almost every brand. As the IPL 2020 is once again coming alive this September, how feasible is Star India’s earlier target of 3000Cr ?
Can they come somewhere near that ?
The first answer to the query comes from Star India’s big boss himself. Uday Shankar, Walt Disney APAC Chairman himself admitted few months back – that currently market is not in a position to support big buck event like IPL 2020.
“If it is one tournament where advertisers will put money, that is IPL but only if they have to put monies. The market has gone through massive shock. Whether it would recover enough to put thousand of crores worth of advertising in next 6-8 weeks is the real issue and we doubt that”, said the Star & Disney India Chairman.
‘IPL is an expensive tournament. We have paid huge monies to acquire the rights. For it to breakeven for us, for the other stakeholders the advertising activity needs to be really substantial. Given the kind of economic shock we have seen during these times, I am not sure if market is ready to support and sustain IPL 2020’, declared Uday earlier in an interview in the first week of July.
Sandip Ginodia , CEO
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