ICC T20 World Cup expected to generate collections of $1 billion. spocto explores how.

Worldwide cricket enthusiasts are anticipating the biggest cricketing event of the year. With good cause, too! The ICC World Cup is usually a spectacular event that features some of the world’s top cricket action along with drama and excitement. The ICC T20 World Cup is a highly well-attended competition that brings in a lot of money for both the ICC and the competing nations. The money made from the competition enables the ICC to make investments in cricket and expand the game. Let’s examine how the ICC makes money from these competitions and what the various income sources are as the 2022 Men’s T20 World Cup nears its end.

Collections from ticket sales

More than 90,000 people packed the Melbourne Cricket Ground for the India-Pakistan match, which was sold out. Additional standing-room tickets were quickly snatched up. Similar to how few tickets were left for the event’s first matchday, which featured UAE vs. the Netherlands before Sri Lanka vs. Namibia at the 36,000-capacity Kardinia Park Stadium in Geelong.

For a one-day pass, general admission tickets started at $60. Prices started at $250 for individuals who wished to buy a ticket for every game in a specific round. Kids’ tickets could be purchased for as little as $5 at some locations, while adult tickets started at $20.

Numerous hospitality packages are offered for customers seeking a more upscale experience. These start at $2000 per person and come with a reserved seat in a great viewing location, access to a private lounge, and free food and drink.

These were, of course, only the beginning pricing for ICC World Cup 2022 tickets. Demand rose as the event got closer, and some tickets ended up selling for 20X what they were listed for. We predict that the ICC will make more than $100 million from ticket sales alone by the end of the event.

Collections from Sponsorship

Based on our research, we have found that ICC charges nearly $5 million per year (with variations per sponsor falling under 3 categories – Global Partners, Official Partners, and Category Partners. Now ICC has 15 partners, and we expect for the T20 world cup they would make north of $50 million from sponsorship alone.

Among the major corporations, Byjus is the T20 World Cup’s top sponsor. The International Cricket Council (ICC) and Byju’s announced their sponsorship arrangement in February 2021. The contract is estimated to be worth $16 million (120-130 crore). Byju’s was planning to host tournaments like the T20 World Cup in 2021 and the ICC World Cup in 2023 when he inked this three-year deal with the ICC. Byju’s will own significant in-venue, broadcast, and online rights for all ICC events. Additionally, a five-year global partnership between Royal Stag and the ICC was reached. Sports commentators estimate that Royal Stag’s deal is worth $5–6 million a year.

In a similar vein, in October 2021, FTX and ICC reached a multi-year deal. All of the initiatives of the world cricket governing body will be supported by FTX up until the men’s Cricket World Cup in India in 2023. FTX is the official cryptocurrency partner of the 2022 ICC T20 World Cup, which will take place in Australia. The other sponsors of the event are Nissan, MRF tyres, Oppo, Booking.com, Emirates, Bira91, Cocacola, Nium, Upstox, Postpe, Royal Stag, Jacob Creek, and Dream 11.

Collections from broadcasting

Based on third party reports, we estimated that ICC charges $750 for media rights per year for broadcasting. Considering the T20 world cup as the sole major ICC event this year, the broadcasters will mainly try to recover the cost from media selling. As per our estimate, the broadcasting collections constitutes upto 75% of all revenue earner by ICC during a tournament.
The competition is broadcast on television in more than 200 nations, and it makes money through sponsorship and advertising. A portion of the money made by the host broadcaster is also given to the ICC.

According to media buyers from the biggest agencies, conventional advertisers have responded tepidly to this year’s ICC event. The largest network, Star Sports, charges Rs 14–15 lakh for a 10-second advertisement. The match between India and Pakistan began at around Rs 20 lakh. These expensive competitions are being sponsored by new firms in the edtech, finance, and other growing industries. The Co-presenting sponsors would be required to pay Rs 1.8 crore to Rs 2 crore for 150 seconds every match for the eighth edition of the ICC Men’s T20 World Cup.

The India-Pakistan match of the 2016 ICC World Cup T20 in India had a 17.3 rating across the Star Sports network and Doordarshan, reaching 83 million viewers, making it the highest-rated Twenty20 match since the World Twenty20 final in 2007. 730 million people watched the entire tournament from home in India, an increase of 14% from the previous year.

According to some analysts, India’s poor performance in the Asia Cup and other events may have an impact on sponsors. It will have effects if India doesn’t fare well in this. While some believe that will happen, TV marketers will regard the 2018 ICC Men’s T20 World Cup, which will take place across 5 major weekends and include 3 out of 5 India matches scheduled for Sundays, as an irresistible chance to attract in viewers.

India and the subcontinent may watch the ICC competition on Disney Star’s Star Sports channel. All games are further live broadcast on the Disney+ Hotstar app. ICC Men’s T20 World Cup 2022 Advertising on Hotstar is a well-liked advertising tactic for businesses aiming to increase visitors, with an estimated reach of over 200-230 million. There are several different media ad choices available in the packages for the ICC Men’s T20 World Cup, including banner advertisements, video commercials, and more.
The media agencies and marketers were told by Disney+ Hotstar that the ICC events generate 60% more talks than other major cricket competitions. The ICC Cricket World Cup 2019 and the just finished ICC World Test Championship had more daily social media mentions than the Indian Premier League (IPL).

Conclusion

In the 2015 ICC Cricket World Cup, which was held in Australia and New Zealand, ICC generated collections of over US$600 million. Following the trend, and by factoring in revenue sources like Tickets, broadcasting, and sponsorship, we can expect total earnings of $1 billion for the 2022 edition of the world cup for ICC.

Talking about collections, spocto is rapidly transforming the field of debt collections. Through the confluence of technology and psychology, we deliver best compliance standards, superior customer experience and save credit losses for our customers.