World Cup final aftermath: Cricketer endorsement fees may not see a big increase

The sight of a prominent cricketer endorsing a brand is not just commonplace but is almost a norm today. It brings in the eyeballs quickly and if executed well, can work well for the brand. After all, cricket cuts across audiences today, making it a very attractive mass proposition. That said, getting in a top cricketer means cutting a big cheque. With India’s loss to Australia in the world cup final, the impact on cricket endorsements is being tracked. 

The numbers one is speaking of is not loose change. It is estimated that Rohit Sharma and Virat Kohli charge Rs 4 crore to over Rs 7 crore for each endorsement. Without a doubt, had India won the tournament, those numbers could have easily zoomed by at least 20 per cent. According to Manish Porwal, MD, Alchemist Marketing Solutions, the team having done well is a positive. “The issue is really about a loss of profit. There will not be any drop in current value, but we are not going to see a spike in endorsement fee either,” he says.  

From a sporting point of view, India is overwhelmingly dominated by cricket in terms of endorsement fee or just the money that flows into the game. Harish Bijoor, brand domain specialist and owner Harish Bijoor Consults Inc, thinks that in the current situation, a brand manager will need to closely allocate his budget. “In India, nothing comes close to cricket and films when it comes to big monies spent on endorsements. It is really a case of budgets moving from one to the other,” he says. That means a not-so-acceptable performance on the cricket field will see a tilt towards the film stars. “Marketers will now start to allocate a larger chunk of their budgets to a SRK or any large star in the south. Again, if a star’s film does not work, it will be back to cricket.” 

There will be a bit of realignment on how much is paid to the cricketers. “While the likes of Virat, Rohit and K L Rahul will see an increase in their endorsement fess, newer stars such as Siraj, Shreyas and Kuldeep may find themselves being wooed by brands,” says Salil Vaidya, marketing consultant and founder, Korero Communications, a digital first agency. He is clear that the overall marketing spend on cricket will continue to increase. “While a world cup win would have seen a sharp increase in the fee, the consistent performance of the team has won over cricket-loving India and, in fact, the loss in the final will give brands an opportunity to exploit the human side of the players to weave stories that will play on consumer sentiments.” That story is not done yet and as Bijoor says, pathos is an emotion that lasts for a while. “One loss in a world cup is a big one and equals ten losses in other finals.” 

Also read: ICC Cricket World Cup 2023 Final: Several brands go in for non-celebrity ads on TV