IPL Brand Value Soars to $10.7 Billion
In a remarkable surge, the valuation of the Indian Premier League (IPL), one of the world’s premier sporting leagues, soared by 28% to an astonishing $10.7 billion in 2023, up from $8.4 billion in the previous year. This unprecedented growth, amounting to a 433% increase since its inception in 2008, was reported by Brand Finance, a leading global brand valuation consultancy.
The IPL’s return to full-capacity stadiums, expanded viewer engagement across diverse platforms, strategic media partnerships, and renewed advertiser confidence collectively propelled its brand value, according to the latest report. This impressive trajectory signifies the IPL’s status as a beacon for other T20 leagues, showcasing a successful global business model. The recruitment of professionals for year-round player management, tournament organization, and sponsor pool management has played a pivotal role, emphasizing the importance of robust governance for sustaining brand excellence.
Hugo Hensley, Head of Sports Services at Brand Finance in London, emphasized, “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.”
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Mumbai Indians is the Leading IPL Franchise
The report highlights Mumbai Indians as the leading IPL franchise in terms of brand value, standing at $87 million, followed closely by Chennai Super Kings (CSK) with a brand value of $81 million. Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) trail with brand values of $78.6 million and $69.8 million, respectively.
Noteworthy is the substantial 38% growth in brand value for Gujarat Titans, securing the fifth position this year compared to eighth last year. Consistent efforts from franchises like Rajasthan Royals and Royal Challengers Bangalore have solidified their brand presence, while Lucknow Super Giants (LSG) emerged as the fastest-growing IPL brand, securing the eighth position with a brand value of $47 million and an impressive 48% growth.
CSK Wmerged as the Strongest
In terms of Brand Strength, Chennai Super Kings emerged as the strongest IPL brand, earning an AAA- rating with a remarkable Brand Strength Index (BSI) score of 81.8 out of 100. Following closely are Gujarat Titans and Mumbai Indians, ranking second and third, respectively.
Women’s Premier League Has Enhanced Brand Value
The introduction of the Women’s Premier League has significantly enhanced teams’ brand values by addressing equity gaps and elevating IPL governance standards. Notable changes, including 52 matchdays, the impact player rule, and the Decision Review System (DRS), have injected renewed excitement into the IPL 2023 audience.
Jio Cinema’s Impact
The report also highlights a viewership explosion across additional platforms, with Jio Cinema’s free-to-view access contributing significantly to IPL’s reach in over 15 regional languages. The IPL’s innovative approach, offering a live match experience through stadium events and IPL theme parks in Tier 1 and 2 cities, has created a multiplier effect on food and beverage sponsor brands and merchandise sales.
