Riding on India's performance in the cricket World Cup, Sony Entertainment Television India has hiked its advertisement rates for the Super Six, semi-final and final matches by over seven times.
While it sold advertising spots at around $7,000 each before the tournament, it is now charging $50,000.
SET India had set aside 10-12 spots of a total of 150 per match for the remaining matches, which were to be sold in the later stages of the tournament.
"These inventory spots will go for a massive premium. SET will be selling a spot for $50,000 per match," said a source close to SET India.
A month ago, it was being seen as a bold gamble by SET India, which would pay off only if the Indian team played well.
SET India, which is a part of Sony Pictures Entertainment, has started negotiations with corporates for the sale of the available spots.
"SET has been approached by various corporates to buy the spots. India's performance has raised the interest of the companies to advertise during the tournament," the source said.
The World Cup telecast added considerable viewers for SET during the initial phase of the tournament when the Indian team was struggling.
The World Cup telecast has averaged television rating points of as high as 8.6 and a reach of 49 million viewers in a cable and satellite universe of 70 million.
The channel has also met its target for the World Cup telecast and generated Rs 275-300 crore (Rs 2.75-3 billion) revenue.
SET India, which has the exclusive satellite telecast rights in India for the World Cup, has seen brands like Videocon, BSNL, Reliance, Hutch and Asian Paints among others coming on board.
Most of these brands did not advertise on the SET network during the ICC Champions Trophy played in Sri Lanka last year. SET India has also entered into advertising deals with Toyota, Britannia, MRF, General Motors, Nokia and Motorola during the World Cup.
