In a remarkable achievement, the brand value of the top 9 IPL teams has crossed the coveted $100 million mark, according to a report by investment bank Houlihan Lokey. The inaugural report sheds light on the Indian Premier League (IPL) and its teams, revealing significant growth and record-breaking milestones.
Chennai Super Kings Dominates with $212 Million Brand Value
The Chennai Super Kings have emerged as the frontrunner, boasting an impressive brand value of $212 million. This highlights their strong presence and resonance with fans, making them a force to be reckoned with in the IPL. Notably, Royal Challengers Bangalore and Mumbai Indians closely trail behind, reinforcing their own substantial brand values.
IPL Brand Value Skyrockets to $3.2 Billion
The standalone brand value of the IPL itself has skyrocketed by a remarkable 80% to reach $3.2 billion in 2023, a significant surge from $1.8 billion in 2022. This surge reflects the immense popularity and global reach of the highly-watched cricket league since its inception in 2008.
Media Rights Deals Propel IPL Business Value to $15.4 Billion
Thanks to the 2023-2027 cycle of media rights deals with JioCinema and Disney Star, the IPL’s business value has witnessed an 80% surge, reaching an impressive $15.4 billion. The intense competition during the record-breaking mega media rights auction led to three times the price achieved in the previous five-year deal with Disney Star and the Board of Control for Cricket in India (BCCI).
Impressive Team Rankings
Apart from the Punjab Kings and the Lucknow Super Giants, all IPL teams have achieved a brand value surpassing $100 million. The rankings reveal the following team values: Chennai Super Kings ($212 million), Royal Challengers Bangalore ($195 million), Mumbai Indians ($190 million), Kolkata Knight Riders ($181 million), Delhi Capitals ($133 million), Sunrisers Hyderabad ($128 million), Rajasthan Royals ($120 million), Gujarat Titans ($120 million), Punjab Kings ($90 million), and Lucknow Super Giants ($83 million).
IPL’s Media Rights Set for Further Growth
With the emergence of over-the-top media platforms (OTT) and the IPL’s continued popularity, media rights are expected to witness further growth during the next renewal cycle in 2027. Analysts anticipate a significant increase in media rights, contributing to the enhanced business value of the IPL.
New Teams and Enhanced Revenues
The IPL’s revenues received a boost from the winning bids of new teams, the Gujarat Titans and the Lucknow Super Giants. CVC Capital Partners and RPSG Group secured the rights for ₹5,625 crore and ₹7,090 crore, respectively, further strengthening the league’s financial standing.
The IPL’s Future
With the IPL’s media rights growing at a compound annual growth rate (CAGR) of 18%, and considering the league’s popularity and reach, the media rights are expected to increase further during the next renewal cycle in 2027. The IPL’s success is also evident when comparing its broadcasting fees with other professional leagues worldwide.
Also Read: TAM Report Reveals Most Advertised Categories During IPL 2023
