When Indian pacer Mohammed Shami sent seven Kiwis back to the pavilion on November 15 giving away a meagre 57 runs, he also sent his brand endorsement fee shooting through the roof. His fees, according to industry sources, has doubled from Rs 40-50 lakh per deal to between Rs 1 crore and 1.25 crore per deal after his swashbuckling performance in World Cup 2023. Among those looking to sign him on are a mobile accessories brand, a beverage brand and a sports/casual wear brand.
Likewise, for every new deal, KL Rahul and Jasprit Bumrah will take home Rs 1.5-2 crore, up from less than Rs 1 crore per deal prior to the WC.
Experts say it is unwise to see players’ endorsement fee from the lens of their performance in one tournament or even a season. Consistency over a period is the name of the game. So is the player’s own image and availability. Shubman Gill, for instance, topped the emerging cricketers’ likeability list during his stint with the Gujarat Titans during the IPL this year, according to the Hansa Research IPLomania 2023 report. The young batter recently landed deals with brands such as Fiama Men, Gillette India and My11 Circle.
On the other hand, consider Rinku Singh, whose glass-shattering sixer in the India versus South Africa second T-20 brought many accolades, but he is yet to make it to the A-list of brand endorsers. Singh, who plays for the Uttar Pradesh cricket team in domestic cricket and has held fort for Knight Riders and Rajasthan Royals in IPL, has earlier endorsed Red Bull and Coca Cola. Then there is SKY or Surya Kumar Yadav, who signed up with UrbanGabru, Boult Audio and peanut butter brand Pintola in October alone, though his performance in the World Cup has been underwhelming, to say the least.
India’s final show in the 2023 World Cup notwithstanding, experts maintain that the team’s run throughout is likely to benefit all players, especially the younger lot. “Advertisers often align their brands with rising stars, as it can create a fresh and dynamic image for their products or services. Younger players are also likely to have a strong influence on younger demographics,” notes Girish Upadhyay, chief marketing officer, Axis My India.
Catching ‘em young
“The advantages for brands to associate with younger players are potentially lower ‘price points’ and a longer runway to plan long-term campaigns. Additionally, a brand can also help mould a player’s brand image,” observes Divya MS, business director at ITW Universe. She cautions that a big risk in signing a player early in their career is the cricketer failing to deliver as per expectations, thus weakening the brand’s investment. She also asserts that the IPL has proved to be a better platform for many young players to catch the attention of brands, in comparison with the World Cup that occurs once in four years.
Many brands with budget constraints prefer emerging stars, says Santosh N, managing partner of D & P Advisory. The current situation is a win-win for start-ups with smaller ad budgets and upcoming cricketers looking to build their own image. “Brands can create compelling narratives through the personal stories of these players to establish deeper connections,” states Santosh.
Interestingly, brand endorsements have moved well past the traditional TVC and brand launch event route. Vinay Babani, vice-president, marketing at SRV Media, says, “Building a formidable social media presence is also key to building a young star’s brand image and value.”
Star endorsers must also contend with the emerging competition in the endorsement firmament. “Competition to become brand ambassadors is much higher today. While cricket players will account for a majority of the advertisers’ preference, there are non-cricket athletes like Neeraj Chopra and PV Sindhu that are also viable options,” says Bunty Sajdeh, founder and CEO of Cornerstone, a sports management agency. Indian cinema and music industries too have actors whose appeal cuts across geographies.
That said, the potential impact in the endorsement space would have been even greater with a victory in the World Cup finals, leading even lesser-known players to secure endorsements, says Praveen Nijhara, CEO at Hansa Research. He cites MS Dhoni and Kapil Dev as examples of captains of winning teams, whose victory had a lasting impact in terms of brand endorsements.
Follow us onTwitter,Instagram,LinkedIn,Facebook