Neo Sports on November 25 hiked its ad rates from Rs 2.75 lakh to Rs 3 lakh for their 10-second spots. The hike announced is for the India-England series. Neo Sports, which has eight sponsors for the series, also claims to have 90 per cent of the inventory utilisation. The channel is targeting revenues of Rs 285 crore by December-end this year, which was set up from October itself, following the India-Australia Test series.
With India on a winning spree, first against Australia and now against England, Neo Sports, which claims to have reached its peak, believes it would sustain that growth.
Commenting on the hike in ad rate, Abhishek Verma, Associate Vice President – Marketing, Neo Sports, said, “High ratings and increasing demand have pushed up ad rates for the India-England series, which were at Rs 2.75-3 lakh for a 10-second spot. The hike is 20-30 per cent. More than 90 advertisers are on board for the India-England series, in comparison to this, the India-Australia-Sri Lanka Tri-series on ESS had only 70 advertisers.”
Verma further said that the ad rates hike would only affect the existing clients positively. The idea, however, was to maximise the clients’ possibility.