Not sure if market can support IPL 2020: Uday Shankar
The chief of Star India reportedly said he does not expect the market would recover in next 6-8 weeks to put thousand of crores of advertising on this season of IPL
Uday Shankar, President of Walt Disney Company, APAC, and Chairman, Star & Disney India, has said "the market is not ready to support and sustain the IPL 2020 with the same fervour and gusto in the current economic environment," according to a report in ET Now.
The chief of Star India, which holds the global media rights of IPL, reportedly said he does not expect the market would recover in next 6-8 weeks to put thousand of crores of advertising on this season of IPL.
"The market has gone through massive shock. Whether it would recover enough to put thousand of crores worth of advertising in next 6-8 weeks is the real issue and we doubt that," he was quoted as saying.
"IPL is an expensive tournament. We have paid huge monies to acquire the rights. For it to breakeven for us, for the other stakeholders, the advertising activity needs to be really substantial. Given the kind of economic shock we have seen during these times, I am not sure if market is ready to support and sustain IPL 2020," he reporedly said.
When asked when does he see IPL happening, Shankar reportedly said they dont know when the league will happen. But BCCI is extremely keen to do it sooner than later, provided the environmen is safe, he added.
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