The news about the India-Pakistan match returning to its original schedule has brought relief to all stakeholders who spent their nights worrying about the outcome of the ICC T20 World Cup match.
The match tickets sold out instantly after the Pakistan Cricket Board (PCB) declared its decision to play against India on February 15 in Colombo. The match tickets sold out instantly after the Pakistan Cricket Board (PCB) declared its decision to play against India on February 15 in Colombo. The match tickets sold out instantly after the Pakistan Cricket Board (PCB) declared its decision to play against India on February 15 in Colombo. The match tickets sold out instantly after the Pakistan Cricket Board (PCB) declared its decision to play against India on February 15 in Colombo.
The broadcasters celebrated because they expected to earn $60 million through TV advertisements while the punters experienced relief. The International Cricket Council (ICC) saved millions of dollars through late negotiations which include funds intended for a micro business close to R Premadasa Stadium in Colombo.
The Pakistan government authorized its team to compete against India after they spent several days in doubt. The sale of tickets for this particular match was not opened during the discussion phase between the ICC and PCB, but the website experienced increased visitor traffic starting from Monday evening. The website, which had previously displayed ‘coming soon’ for ticket sales, now shows ‘event closed’ because booking has ended.
The demand for this particular match has reached such high levels that multiple websites claim to possess tickets which they sell at exorbitant prices. The secondary ticket marketplace is offering two tickets of this match for Rs 90,000, which goes up to Rs 3,65,000 for two hospitality tickets. The lower category tickets are being offered in the range of Rs 5,000 to Rs 25,000.
Direct flights from Delhi to Colombo cost between Rs 23000 and Rs 35000, but on February 15 match day, ticket prices start at Rs 48000 and reach Rs 107500. The lowest fare for flights is available at Rs 15000 which requires 14 hours of travel time.
The listing of hotels near the stadium maintains the same pattern which shows that a decent hotel at a distance of 5 kilometers from the stadium charges Rs 7000 for a room that accommodates one person while the price of a five-star hotel exceeds all logical limits.
The match generates vital revenue streams which benefit broadcasters. The TV ads for this match have been reportedly sold for $50,000 for a prime 10-second slot, and somewhere between $25,000 and $35,000 for the same length in a normal slot.
The India-Pakistan T20 World Cup game has an overall value of $500 million according to various reports which include broadcast rights, advertising, sponsorship, ticketing, legal betting, and illegal betting conducted under the radar. The fixture is expected to be watched by around 325 million people, while the recent NFL’s Super Bowl is reported to have a record viewership of 127.7 million.
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