The value of IPL’s stand-alone brand value stood at US$3.2 billion in 2023 up from US$1.8 billion in 2022. Global investment bank Houlihan Lokey said in its inaugural report on the business enterprise and brand values of the Indian Premier League (IPL).
IPL Brand value increased by 80%
The IPL’s business value stood at US$15.4 billion in 2023, an increase of 80% over last year’s value of US$8.5 billion. It is largely due to the 2023–2027 media rights deal with JioCinema and Disney Star, which was three times the price of the 2017 five-year deal between Disney Star and the BCCI. IPL’s media rights have grown at a CAGR of 18% from 2008 to 2023. The growth in absolute terms between the 2017 and 2023 cycles is 196%. Comparing IPL’s broadcasting fee with other professional leagues in the world on a per-match basis, the IPL fares well above the likes of the National Basketball Association (NBA), the English Premier League (EPL), and the Bundesliga.
It is second only to the National Football League (NFL). The NFL’s broadcasting fee is $35.1 million while IPL’s is $14.4 million. With the emergence of OTT and the global reach of the IPL, media rights are expected to further increase in the next renewal cycle in 2027. The IPL will be global by the next cycle in 2027 on similar lines to EPL, which would further enhance the growth in its revenue from broadcasting rights.
History of IPL
Sixteen years ago, the BCCI conceptualized the IPL in response to the alternative Indian Cricket League (ICL). It was also the time when T20 cricket had suddenly become a phenomenon as India won the inaugural ICC T20 World Cup in South Africa in 2007.
Created on the American style of franchise-based systems of hiring players, the IPL has gone on to establish itself as a lucrative sports league in the world on similar lines to NFL and EPL. However, the remarkable thing about the IPL is that it has established itself as a premier sports brand within a very short period, and it continues to grow exponentially year over year.
IPL Brand Value & Viewers grow
The IPL’s revenues grow by the winning bids of INR₹56,250 million and INR₹70,900 million for the Gujarat Titans and Lucknow Super Giants by CVC Capital Partners and RPSG Group, respectively. The IPL is not required to pay corporate taxes based on the Income Tax Appellate Tribunal (ITAT) ruling in 2021, where the BCCI’s view was upheld.
JioCinema streamed the entire season for free, which enabled it to set a new world record with the highest concurrent viewership for a live-streamed event. Around 32 million viewers tuned in to watch the Gujarat Titans vs. CSK finale. In fact, the broadcaster broke the viewership record thrice this season, with 25 million viewers for Qualifier 1 and 24 million viewers for the South Indian derby of CSK vs. Royal Challengers Bangalore.
The report reveals that an impressive 73% of viewers opt to stream IPL matches on digital platforms, while only 27% rely on cable or DTH services. Interestingly, the data highlights the dominance of smart TVs in the digital streaming landscape, with 62% of viewers choosing connected TV over cable or DTH (38%).
