The ICC World Cup 2023 has proven to be a monumental success, capturing the hearts and attention of cricket enthusiasts in India and around the world. The tournament, held in India, witnessed record-breaking viewership numbers both on television and through digital streaming platforms. This article delves into the remarkable achievements of the World Cup, exploring the immense popularity and engagement it generated, as well as the significant impact it had on advertising and the travel industry.
The ICC World Cup 2023 created history by attracting a staggering 518 million viewers on TV alone, according to the latest data released by the Broadcast Audience Research Council (BARC) This phenomenal figure solidifies the unwavering passion of the nation for cricket and underscores the immense popularity of the tournament. The final match between India and Australia reached a peak concurrency of 13 crore viewers on TV, surpassing previous records set during matches between India and Pakistan, as well as India and New Zealand.
Not only did the television broadcast captivate millions of viewers, but the streaming arm of Disney Star, Disney+ Hotstar, also witnessed unprecedented success during the World Cup. The platform broke its own record multiple times, achieving a peak concurrency of 5.9 crores during the final match between India and Australia, surpassing the previous record set during the semi-final between India and New Zealand. This highlights the growing popularity of digital streaming platforms and the increasing trend of viewers opting for online streaming options.
The ICC World Cup 2023 proved to be a lucrative opportunity for advertisers, with Disney+ Hotstar generating an ad spend of Rs 9 to 9.5 billion. The superior performance of Team India in the tournament played a significant role in attracting advertisers from various sectors, including consumer packaged goods, BFSI, telecom, and travel. The digital ad spend for the World Cup doubled compared to the previous World Cup in 2019, with a Compound Annual Growth Rate (CAGR) of 25%. Furthermore, TV ad spend for the tournament witnessed a 25% increase compared to the 2019 World Cup, reaching a total ad spend of Rs 22 to 23 billion across TV and digital platforms.
“The festival season and the World Cup have been the ideal combination, as the festival season drives spend and consumption with consumer sentiments at their highest, which, in turn, influences advertisers to spend more toward advertising,” stated the Elara report This symbiotic relationship between the festival season and the World Cup created a favorable environment for advertisers to reach a larger audience and maximize their impact.
As the host nation, India experienced a significant boost in the travel and hospitality sector during the ICC World Cup 2023. Cricket enthusiasts from various cities traveled across the country to witness the matches firsthand, contributing to the growth of the tourism industry. The return of the World Cup to India after 12 years intensified the excitement among fans. The stellar performances of players like Rohit Sharma, Virat Kohli, and Mohammad Shami further fueled the palpable craze surrounding the tournament.
Disney+ Hotstar emerged as the go-to streaming platform for cricket enthusiasts during the World Cup. The platform witnessed a peak concurrency of 5.9 crores during the final match, breaking its own record multiple times throughout the tournament. This success can be attributed to factors such as the larger target audience of the World Cup, India’s superior performance, and the availability of free content on OTT platforms. The streaming platform also achieved the highest Cost Per Mile (CPM) ever at approximately 400-450, surpassing even the Indian Premier League (IPL).
However, it is worth noting that Disney+ Hotstar has faced challenges in terms of subscriber retention. The platform has lost more than 23 million subscribers in the past year. Despite this, Disney remains committed to the Indian market and is exploring various options to ensure the future success of its local business.
The success of the ICC World Cup 2023 has undoubtedly opened up new possibilities for cricket and the broadcasting industry. The tournament has showcased the immense popularity of the sport in India and has proven to be a lucrative platform for advertisers. As the world’s most populous country, India presents vast opportunities for companies like Disney to tap into the market and reach a massive audience.
Looking ahead, it will be interesting to see how Disney and other players in the industry navigate the evolving digital landscape and continue to engage viewers in the ever-competitive world of cricket broadcasting. The ICC World Cup 2023 has set a new benchmark for viewership and has left an indelible mark on the hearts of cricket enthusiasts around the world.
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