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A candid cricket fan would confess to grudging the cricketers their endorsement millions every time her heart has been wrenched by a dismal performance by the national team. After the depressing exit from the World Cup comes balm for the frayed soul.
Casual advertisers that bought spots for India's matches are certain to pull out, delivering a blow of Rs 125-150 crore (Rs 1.25-1.5 billion) to Sony Entertainment Television, the official broadcaster.
The long-term sponsors that have committed an estimated Rs 650 crore (Rs 6.50 billion), are reeling under the projections of 20 per cent drop in viewership for the rest of the tournament.
Industry experts said the most affected would be Pepsi, Reebok and Visa, whose ad campaigns were based on India's performance at the World Cup. They now have to tank swank new ads that cheer Team India or project cricketers as heroes. The post-World Cup advertising plans will now have to be advanced.
"I predict a value erosion of Rs 150-175 crore (Rs 1.5-1.75 billion), assuming no advertiser pulls out as ratings will fall. It is similar to the erosion of market cap," said Sundar Raman, managing director of MindShare, WPP group's media services company.
Companies like soft drink major Pepsico for instance released a new commercial during the India-Sri Lanka tie featuring superstar Shah Rukh Khan cheering the Indian team.
FMCG giant ITC also has been running ads on Sachin's Fit Kit, its new nutritional foods product endorsed and named after batting maestro, Sachin Tendulkar.
Pepsi, which even launched a "gold cola" variant and a "blue billion" campaign may have to take fresh guard. As for the Shah Rukh ad, it is unlikely to bat again.
Others like sportswear brand Reebok say they will stick with cricketers but may stay away from television for a while.
"We may not do television commercials for a few days but our print, outdoor and other publicity campaign with cricketers will go on," says Sajid Shamim, director, marketing and product, Reebok India.
However, SET India CEO Kunal Dasgupta put on a brave front: "The Indian team's exit from the World Cup does not affect us. Cricket fans will now cheer other teams which will draw viewership for the channel." He expressed confidence that advertisers would not withdraw their commercials.
While there was no official word from Pepsi, company sources said a back-up plan was in place. "Cricket or no cricket, the summer is here and Pepsi is geared up for it."
Fixed sponsorships and spots already booked by the advertisers
Going rates for 10-second spots
