Cricket…hitting the Economy out of Boundary

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cricketHowzattt!!

Cricket has a huge fan following all around the globe. It is a game that is being played and followed by the millions of people around the world. Originated in the 16th century at England, this game of two batsmen running on 22 yard strip, bowler and eleven fielders became a global game and the most lucrative entity eventually. Today it not only a sport that is played in several nation but has emerged as a brand itself. And when you speak of India, it is no less than a religion for the people. Madness, hysteria, worshipping whatever you need name it, cricket is like a heart and soul of the country. Every home, every street, every alley, every corner, you will find diehard fans this game. And where the game is a religion itself, the market and business entrepreneurs are there too for capitalizing it.

In India, cricket is being followed and watched literally by the entire population. From kids to grownups, no individual goes missing in the line. And when it is so religiously admired, the economy related to the sports market also plays its part. Cricket marketing has become a major industry in present scenario. It is no longer just a game but a major business tool. Companies are using cricket and cricketers to promote and sell their products. Brand endorsement done by the cricket players are on an all time high. In some cases their brand value is equivalent to a movie star or even more than that. Popular players alone sign contract with the corporate houses worth millions in scale. To take advantage of the cricket craze, broadcasters of television matches are putting in everything to have maximum viewership for their channel. Television broadcasting rights is a big earning opportunity for the channels as cricket matches attract large number of sponsorship towards them. The recent emergence of IPL has changed the face of cricket entirely whereby players are being auctioned and bought by big corporate companies who form their team. The entertainment industry and the advertising industry too reap the benefits of the game in promotional campaigns and advertisement of the matches. Ads on the jersey of the players, banners inside the stadium give a good income output as well. The brand cricket is so colossal in size that even the movie industry associate itself with the cricketing event to promote their films. And being a sport at the end of the day, it is boosting the sports goods industry as well.  Sports equipments sales related to this game have seen a tremendous rise due to mushrooming cricket academy.

Business of cricket is taken an enormous shape. Today no company or no business house is there who doesn’t want to associate itself with this sporting market. According to a research analysis, the revenue earned by various cricketing event crossed a whooping $900 billion. And with each season and match this goes on an upscale. So it’s just not player hitting the ball out of boundary, it is the profits of this sporting business is across the boundary too.