Packed stadiums, fans glued to screens everywhere, and big media deals paint a picture of a league that’s become a commercial juggernaut.
The IPL has evolved beyond being merely a sports league; it now stands as a ‘decacorn’ – a privately held entity. According to a new report from Brand Finance, the world’s leading independent brand valuation consultancy, the IPL’s total combined brand value has skyrocketed by 28% to a staggering USD 10.7 billion!
The IPL secured a ground breaking media rights deal for the next five seasons(2023-2027).(BCCI)
The IPL isn’t just about exciting cricket anymore. Packed stadiums, fans glued to screens everywhere, and big media deals paint a picture of a league that’s become a commercial juggernaut. This mega-event is now a prime launchpad for brands, offering a direct line to India’s massive consumer base. The result? The IPL’s brand value has gone up a whopping 433% since its 2008 launch .
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Hugo Hensley, Head of Sports Services, Brand Finance, London, commented:
“The IPL brand stands as a guiding light to all other T20 leagues, illustrating how the business model can be successfully scaled up on a global level. Teams are proactively recruiting professionals to handle year- round player management, organize tournaments, and manage sponsor pools. The key to upholding the IPL brand lies in robust governance. The mother ship must remain steadfast and on course, ensuring a continuous commitment to value creation.”
Catalysts of Success
Strategic Media Rights Deal: The IPL secured a ground breaking media rights deal for the next five seasons(2023-2027), amounting to an impressive US$6.02 billion(Source: BBC),underscoring its immense commercial appeal and broadcasting allure.
Sponsorship Triumphs: Franchises clinched 75Cr sponsorship deals, with Royal Challengers Bangalore sealing a lucrative three-year partnership with Qatar Airways, further bolstering the league’s financial prowess.
Expanding Viewership: Disney Star reports 450 million viewers tuning in for the first 26 matches, with the Mumbai Indians vs. Royal Challengers Bangalore clash attracting the highest viewership. The total watch time sits at a staggering 188 billion minutes.
According to a report by KPMG in 2015, the IPL was estimated to have made a significant contribution of around INR 11.5 Billion, to the Indian economy that year. Moreover, from 2015 to 2023, the IPL’s contribution to the Indian GDP has experienced exponential growth, reflecting its ever-increasing significance as a key driver of economic prosperity in the country.
According to EY FICCI M&E report 2022, India is the world’s largest fantasy sports market. The IPL season gives it an added boost, as it’s the mainstay of their marketing calendar.
Jay Shah, secretary of the Board of Control for Cricket in India, said the revenue generated from the IPL helps grassroots cricket in the country by funding infrastructure improvements and facilities.
“Now, it’s time for our state associations, IPL franchises to work together with the IPL to enhance the fan experience and ensure that our biggest stakeholder – the cricket fan – is well looked after,” he added.
