The ICC World Cup 2023 is one of the most anticipated sports events globally, and the hype for it is already building up. Fans are eagerly awaiting the arrival of their favourite cricket teams, and so are the brands, which are always trying to discover new ways to promote themselves and attract new customers.
Brand sponsorship in sports events has become increasingly popular over the years, and the ICC World Cup 2023 is no exception. It’s a great opportunity for brands to showcase their products and services to a massive audience and gain maximum exposure. In between players and brands collaborating together we wanted to understand how stadiums work.
But how exactly are brands using different parts of the playground to sponsor their brand in ICC World Cup 2023? Let’s find out.
In between players and brands collabing together we wanted to understand how stadiums work
ICC Cricket World Cup Overview
First, let’s take a brief overview of the ICC World Cup 2023. The tournament would be held in India and would feature ten teams from around the world. The world’s best cricket teams will compete against each other to see who is the best. It would be the 13th edition of the World Cup, with the first one held in 1975. The final would be held at the famous Wankhede Stadium in Mumbai, which has a seating capacity of 33,000.
ICC World Cup 2023 Venues
The ICC Cricket World Cup 2023 will be held in ten different stadiums across India. Here is a list of the venues-
- Narendra Modi Stadium, Ahmedabad
- M. Chinnaswamy Stadium, Bengaluru
- M.A. Chidambaram Stadium, Chennai
- Arun Jaitley Stadium, Delhi
- Himachal Pradesh Cricket Association (HPCA) Stadium, Dharamsala
- Eden Gardens, Kolkata
- Bharat Ratna Shri Atal Bihari Vajpayee Ekana Cricket Stadium, Lucknow
- Wankhede Stadium, Mumbai
- MCA International Stadium, Pune
- Rajiv Gandhi International Stadium, Hyderabad
ICC WorldCup 2023 Sponsors
The following is a list of sponsors for the 2023 ICC Cricket World Cup:
- ICC Global Partners: MRF Tyres, Booking.com, Byju’s, BharatPe, Aramco, Emirates
- Official Partners: Bira, Upstox, Polycab, Coca-Cola, Nissan, Nium, Oppo, DP World
- Category Partners: Royal Stag, Dream11, Jacob’s Creek, FanCraze, TYKA
- Broadcast Partner: Star Sport
These sponsors have invested heavily in the World Cup, and their logos will be prominently displayed throughout the tournament. They will also have a variety of other marketing and promotional opportunities to connect with cricket fans around the world.
The ICC Cricket World Cup is one of the most prestigious sporting events in the world, and it is a major opportunity for brands to reach a global audience. The sponsors for the 2023 World Cup represent a wide range of industries, and they are all looking to capitalise on the excitement and popularity of the tournament.
How do Cricket Stadiums Earn Money
Cricket stadiums have several opportunities to earn money during the ICC Men’s Cricket World Cup 2023.
Ticket Sales: The first and most obvious way for stadiums to earn revenue is through ticket sales. With matches being played across 10 venues, ticket sales for each game will undoubtedly bring in a significant amount of income. Stadiums can set varying prices depending on the match, location, and demand. The revenue generated from ticket sales is also directly proportional to the seating capacity of the stadiums. You must have already be aware about the high prices of tickets in secondary ticket market!
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Sponsorship: Another source of revenue for stadiums is through sponsorships and partnerships with various brands aiming to promote their products during the matches. These partnerships could range from large corporations to local businesses depending on the financial resources of the brand. For stadiums, this offers a unique opportunity to gain publicity and promote the image of the stadium to a wider audience. In return, the sponsoring companies can expect to reach more potential customers as the games are viewed by millions of people worldwide.
Merchandise sales is another potential source of income for stadiums during the ICC Men’s Cricket World Cup 2023. Fans of different teams can purchase team jerseys, caps, flags, and other items from the stadium shops, making it a lucrative source of revenue for stadiums during the tournament. Stadiums may choose to partner with sports brands to supply the merchandise or produce their own branded products to sell during the event. The sale of merchandise also allows fans to express their support for their favorite teams while generating revenue for the host stadium.
Broadcasting RIghts: Finally, stadiums may also generate significant revenue through broadcasting rights. Television networks pay to air the matches to a global audience, with rights fees often worth millions of dollars. Broadcasting rights not only generate revenue for the stadium but also provide publicity, making it an excellent opportunity for stadiums to gain recognition worldwide.
Stadium Branding through Sponsorships
Stadium branding is one of the most popular ways for brands to advertise their products during the ICC World Cup 2023. The stadiums provide an excellent opportunity for brands to showcase their logos and products to a global audience. Let’s take a look at the various branding options available at the stadia.
Pitch branding: Pitch branding involves the use of logos and advertisements on the playing surface. It is an effective way for brands to increase visibility and create brand recall. The logos and advertisements are strategically placed to ensure maximum visibility. Brands can choose to have their logo displayed on the pitch throughout the tournament or during specific matches.
Boundary boards: Boundary boards are advertising boards placed around the perimeter of the playing field. They are visible to the spectators and the television audience, providing a great way for brands to showcase their products. Brands can choose to have their logos displayed on these boards throughout the tournament or during specific matches. Cup branding:
Cup branding: The ICC World Cup 2023 trophy is an iconic symbol of the tournament. Brands have the opportunity to have their logos and advertisements placed on the trophy, providing a great way to promote their products. The branding on the trophy is visible to the players, officials, and the television audience, creating a lasting impression on the audience.
Crown branding: Crown branding refers to the branding on the headgear of the players and officials. It is an effective way for brands to build awareness and create brand recall. Brands can choose to have their logos displayed on the crowns of the players and officials throughout the tournament or during specific matches.
Fan village branding: Fan villages are set up near the stadium to provide a unique experience for the spectators. Brands have the opportunity to set up their own booths and stalls to showcase their products and services. Fan village branding provides a great way to interact with the audience and create a lasting impression on them.
In conclusion, the revenue-generation strategies employed by stadiums during the ICC Cricket World Cup are a testament to the remarkable fusion of sports, entertainment, and commerce. These modern arenas, designed to provide fans with unforgettable experiences, have evolved into financial powerhouses themselves. Through a combination of ticket sales, sponsorships, hospitality packages, merchandise sales, and broadcasting rights, stadiums not only cover their operational costs but also contribute significantly to the economic success of one of the world’s most-watched sporting events.
In this symbiotic relationship between cricket and its stadiums, both the game and its venues thrive, ensuring that the ICC Cricket World Cup continues to be a global phenomenon celebrated by millions around the world. As we eagerly await each World Cup edition, it’s worth appreciating the intricate dance of economics, passion, and athleticism that unfolds within the confines of these iconic stadiums, proving that in the world of cricket, the show goes on not just for the love of the game but for the love of the sport’s enduring financial legacy.
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