The upcoming Men's Cricket World Cup 2023, hosted exclusively by India for the first time, is expected to significantly boost total ad revenue across television and digital platforms. The anticipated revenue is estimated to be between Rs 2,000 and Rs 2,200 crore, marking a substantial increase from the Rs 1,350 crore generated during the previous tournament in 2019.
Elara Capital, a brokerage firm, predicts a significant surge in digital revenues for this edition of the World Cup. Digital revenues are projected to more than double from Rs 450 crore in 2019 to Rs 950 crore in 2023. Concurrently, television ad revenues are forecasted to reach Rs 1,150 crore in 2023, up from Rs 900 crore in the previous tournament.
Disney Star, which holds ICC TV and digital media rights until 2023, plans to offer free streaming of the matches on its Disney+ Hotstar app. The move is seen as a strategic attempt to compete with JioCinema, backed by Reliance Industries, which provided free streaming of IPL cricket matches earlier this year. Additionally, Disney Star will broadcast the games on its Star network of channels.
Elara Capital's Senior Vice-President Karan Taurani suggests that the timing of the matches, set to commence at either 10:30 am or 2 pm IST, is likely to increase overall viewership. He predicts a significant boost in digital revenues this year, with an expected compound annual growth rate (CAGR) of 21% compared to 2019 levels. Television advertising is also expected to grow at a CAGR of 6% compared to the last World Cup.
The World Cup returns to India after twelve years and marks the first time India will host the tournament exclusively. The country previously co-hosted the event with Pakistan in 1987 and 1996, and with Sri Lanka and Bangladesh in 2011. The 2023 tournament will feature 48 matches played by 10 teams across 10 venues from October 5 to November 19, 2023. Ahmedabad has been selected to host both the opening match and the final.
England, the winners of the thrilling 2019 edition that concluded with a tied super over, will enter the tournament as defending champions.
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