Current Affairs

News
Pvt cos keen to sponsor CWG as PSUs pull out Read more: Pvt cos keen to sponsor CWG as PSUs pull out - India Business

MUMBAI/BANGALORE: Is the controversy surrounding the Commonwealth Games (CWG) scaring off sponsors? Though PSUs like NTPC and PowerGrid Corporation are threatening to pull out of the games, private sector companies so far seem to be the torchbearers for the event. With the government on Thursday giving fresh assurances to control the damage, a section of corporates believes that the controversy could, actually, have a positive rub-off effect on the popularity of the games. Venugopal Dhoot, chairman, Videocon Group, said, "The regular media coverage on the controversies surrounding the CWG has created public awareness on the games, which were hitherto not very popular. We have decided to spend on advertising for the commonwealth games." Videocon Group spends a couple of hundred crores on advertisements every year. The diversified consumer television manufacturer-to-mobile operator has been sponsoring various sports events such as cricket, tennis and boxing since 1991 when it first sponsored the Asia Cup Cricket. Media buyers pointed out that even in the past, cricket, movie launches and other events have benefited from controversies. This was seen last year when the popularity of IPL went up after Harbhajan Singh slapped Sreesanth. Similarly, India-Australia series in 2008 benefited from the verbal duel between Andrew Symonds and Harbhajan. "As we near CWG and the confidence builds up, more advertisers will look at it as a great opportunity. In terms of ratings, I am sure that the controversy will aid in taking the viewership up," said Nandini Dias, COO, Lodestar, a media agency. Clients like Hero Honda, Coca-Cola and Airtel have already tied up for CWG sponsorships. International rights and ground rights, too, have been tied up. As to whether the official beverage partner for CWG was still continuing with its sponsorship, a Coca-Cola spokesman said, "Our partnership with CWG is an extension of the company's focus on promoting healthy, active living for people and also to build social cohesiveness by using sports as a vehicle. We have been associated with several sporting events globally and in India. Our plans for CWG as its beverage partner is intact."

                                                                                                               
Back
Created by SaasVaap Techies pvt ltd