How Much Share BCCI Will Get From The ICC ODI World Cup 2023 Revenue? Here Are The Details. Attaining tickets for the ODI Cricket World Cup 2023 is like chasing a shooting star – elusive and often accompanied by excessive costs, especially for marquee matches such as India vs. Pakistan. However, the tournament’s significance goes beyond the packed stadiums. It is a massive cash generator through sponsorships and media rights, raking in hundreds of crores. It is important to note the impact the ICC World Cup 2023 has on the Indian economy.
Bank of Baroda’s Staggering Prediction: ICC ODI World Cup 2023 Revenue
Bank of Baroda has made an astounding prediction, estimating that the ICC Cricket World Cup 2023 will contribute a colossal $2.6 billion (approximately Rs 22,000 crore) to India’s economy. Let’s dive into the numbers and see how this cricket extravaganza fuels economic growth.
Revenue Division (Approximately)
Television Rights – Rs 12000 Crore
Screenings & Food Deliveries – Rs 5000 Crore
Ticket Sales – Rs 2000 Crore
Travel, Merchandise & Event Management – Rs 3000 Crore
Total Revenue – Rs 22000 Crore
Sponsorship Revenue and Record-Breaking Viewership: ICC World Cup 2023
The ICC Men’s Cricket World Cup started on October 5 and will conclude on November 19, 2023. It is on track to collect an astounding $150 million (approximately Rs 1,250 crore) in sponsorship revenue. India is expected to exceed the 552 million total viewership recorded during the 2019 World Cup. And here’s the mind-boggling part—global giants are pouring in $3,600 per second into the Cricket World Cup.
Bank of Baroda’s economic experts are playing it safe, estimating TV rights and sponsorship revenue to range between Rs 10,500 crore and Rs 12,000 crore. Ticketing revenue for the 2019 World Cup hit an astounding 50 million Great British Pounds, marking a staggering 75% increase from the 2015 edition.
The BCCI’s Share of the Pie
When you examine the financial complications, the Board of Control for Cricket in India (BCCI) is positioned to take the lion’s share. BCCI is going to take about 40% of the ICC’s annual net earnings from 2024 to 2027. This equates to a substantial $230 million per year for four years, capturing a remarkable 38.5% slice of ICC’s projected annual earnings of $600 million. This revenue-sharing configuration takes into account cricket history, team performance, revenue contributions, and full membership status.
Economic Impact Beyond the Matches
This isn’t just about cricket matches; it’s about the far-reaching impact on India’s economy. Hosting the World Cup in 10 cities has led to a surge in airline ticket sales, increased hotel rentals, and a boost in the informal sector. There is a chance of a marginal inflation increase, ranging from 0.15% to 0.25%, during October and November.