The 2019 cricket World Cup is slowly picking up pace but the English summer is once again killing the excitement over the tournament. In the past also, the rain has played a critical role is spoiling parties. Well, who could forget that controversial game of 1992 World cup when South Africa was bowed out of in an unceremonious way. Needing 22 runs from 13 deliveries, every pundit that was favouring the chasing team which was, unfortunately, South Africa that they. Then comes a short spell of rain and the target was revised from 22 runs in 13 delivers to 22 runs in 1 ball, weird duck-worth lewis rule in the game.
With cricket going global especially since 1992 with the introduction of coloured jersey and television, the economic implication of each match has been huge. In this year's world cup with 4 games already washed-out, the official broadcaster of the game in India, Star India is facing the heat. As per the weather forecast, the match between arch-rivals India and Pakistan is likely to be washed out due to rains. The development would not amuse Star India as the broadcaster is facing a loss of Rs 100 crore which they were expecting in ad revenue from the match.
Mint reported that Star is likely to lose Rs 50 crore as the insurance provides only partial coverage of the total sum. A person privy to the development said Star would have an insurance cover "but like all insurance, it cannot give the same return as an original event can give". He further added, "In the World Cup, matches involving India, Australia, Pakistan, and South Africa are important. If they get affected and the event is not able to maintain the tempo and excitement, there is a chance that advertisers may reduce their commitments."
As per an estimate, Star India has been betting high on India-Pakistan clash, charging almost 50 per cent higher on last-minute ad spot buying. The 10-second ad rates in sky-rocketing Rs 25 lakh. Notably, the broadcaster is selling ad packages (including television and Hotstar) of India matches for Rs 16-18 lakh vis-a-vis Rs 5 lakh per 10 seconds it asks for the advertisement for non-India matches.
Sandeep Goyal, the chairman of Mogae Media, a Mumbai-based marketing and communication agency, said, "For a broadcaster, it is a serious loss if an India match gets partially or fully rained out, especially when we are playing against Pakistan after a long period. In terms of ticket money, a lot of fans buy tickets in black, paying a premium, which adds to losses and disappointment among fans."
