So, Are you another die-hard fan of cricket or IPL? Then I am pretty much sure that you closely follow all the matches of India and also the most famous T20 tournament game, Indian Premier League. During these matches, you must have seen players of different teams advertising various commercial brands during the match and on television as well.
The famous strategic time out which happens between matches which have been easily renamed as ‘CEAT’ strategic time out, who gives a huge 31 crores for a contract of 3 years.
What exactly it is for?
Well, As its name implies it is a short break taken in between the match. The haste in IPL usually calls for a short break for the teams to plan for urgent correction or addition of any strategies in order to play better. But Technically, it is mainly for the additional revenue by advertisements, which is calculated the worth of 3.6 crores!
There are two such time outs taken during every innings. One which can be taken by the bowling team between 6-8 over while the same can be taken by the batting team between 11-16 over.
Origin Of This Concept
The concept of Strategic Time out was first begun in 2009 when IPL was had been in South Africa due to elections in India at that time. Strategic time-outs placed the game on halt for a while and the cheerleaders on the boundaries score to attract the audience. The audiences present in the ground utilizes this time to buy food, toilet-breaks, a short walk or anything else. It absolutely added so much spice to the game.
That 2.5 minutes’ Break worth Millions
In those 2.5 minutes, the main motive of the sponsors is to create as much revenue possible. The broadcasting sponsor, Star Network, charges advertisers 10 lakhs just for advertising the brand for a mere 10 seconds. If we calculate all the strategic time outs, breaks and wickets and calculate it correctly, it generates as much as 34.8 crore rupees! And in just one season of IPL, Star Network earns a huge 2880 crores only via advertisements. Isn’t it surprising for you?
Furthermore, there are brand advertisements displayed on the big screen placed in the stadium and much more. Those 2.5 minutes is like gold for the sponsors in the whole match. However, they need to be careful of the allotted time and to leverage maximum benefits. The real challenge is to keep the value of the game undisturbed yet make huge profits and while still keeping all relevant parties, people and stakeholders entertained.
Strategic Time Out is like a win-win situation for all stakeholders. It is a break in the game to ensure that all the stakeholders receive equal opportunities to brand themselves and bring the commercial value for the advertisers.