Indian Premier League (IPL) has changed the game of cricket in so many ways. With India’s young talent getting global recognition, the business model of IPL is something that every sports league is trying to learn from. IPL has not created successful teams and franchises, it has built some successful brands in the name of teams. Whether its the consistency of Chennai Super Kings to RCB having a super loyal fanbase even after not winning a single title, there’s so much marketers can learn from the economics of IPL.
Studying the brand value of IPL teams, every year BrandFinance releases a report that shows how the league teams have grown in terms of brand value. In 2023, Mumbai Indians has once again retained the top ranking as the most valued franchise in IPL. The brand value of MI increased 5% reaching USD 87 million. Here’s a look at the ranking of teams in terms of the brand value:
Here are some more key points from BrandFinance 2023 report
-Reaching the combined brand value of $10.7 billion, the Indian Premier League has turned decacorn this year.
-During the 2023 season, IPL reached 505 million viewers on TV and 450 million on digital platforms.
-Chennai Super Kings is the strongest IPL brand, with a Brand Strength Index (BSI) score of 81.8 out of 100.
For more details about the report, you can read the complete report here
Also Read: TAM Report Reveals Most Advertised Categories During IPL 2023
