Star India set a target of Rs 2,000 crore ($300.6M) from TV and digital ad sales for the first year.GETTY IMAGES
Even though Star India signed up 11 advertisers for the upcoming season of the Indian Premier League, "many usual names are missing from the list so far," as advertisers are finding the broadcaster’s asking price of Rs 10 lakh ($14,983) per 10 seconds "too high," according to Gaurav Laghate of the ECONOMIC TIMES. Star India placed an "astronomical" bid of Rs 16,437.5 crore ($2.5B) to buy the global media rights for five years starting with the '18 edition of IPL. To recoup its investments, Star has "come out with an exhaustive telecast plan" encompassing six languages, 12 channels and live streaming on digital platform Hotstar. It also set a target of Rs 2,000 crore ($300.6M) from TV and digital ad sales for the first year. Star Sports Ad Sales Head Anil Jayaraj previously said that the response from advertisers "was good." However, sources said that out of 11 sponsors, only Vivo, Coca-Cola, Poly Cab, Parle Biscuits and Association of Mutual Funds in India are for live telecast on TV. Other sponsors like Elica kitchen and Dream11 are "too small and may have taken spots on Hotstar or wrap-around shows (Star has not disclosed the advertisers' spots)" (ECONOMIC TIMES, 2/20).
