IPL brand value rises 28% to $10.7 billion in 2023
In a major milestone, the Indian Premier League (IPL) has achieved decacorn status, with its combined brand value seeing a remarkable 28% surge to reach an impressive $10.7 billion. This significant growth is reported by Brand Finance, marking a phenomenal 433% increase in the IPL system’s brand value since its launch in 2008.
Brand Finance is the second company, following D&P Advisory, to appraise the IPL ecosystem at over $10 billion. Earlier estimates by Houlihan Lokey had placed IPL’s brand value at $3 billion, with a noteworthy business enterprise value of $15 billion.
The surge in IPL’s brand value is attributed to the resounding success of the 2023 season. Full-capacity stadiums, increased TV and digital viewership, and record-breaking sponsorship deals for IPL franchises have all contributed to this remarkable growth.
During the 2023 season, IPL reached an astounding 505 million viewers on television and an additional 450 million on digital platforms. Disney Star holds the TV broadcast rights, while JioCinema owns the digital streaming rights.
The packed stadiums not only created an electrifying atmosphere but also played a crucial role in the league’s financial success. The heightened interest in IPL, both on traditional television and modern digital platforms, underscores the tournament’s ability to engage a diverse and extensive fan base.
The substantial growth in brand value reaffirms IPL’s status as one of the most lucrative and popular sporting leagues globally. As it continues to break records and capture audiences, IPL’s entry into the decacorn club solidifies its position as a sporting phenomenon, not just in India but on the global stage.
In conclusion, IPL’s journey to a $10.7 billion brand value is a testament to its enduring popularity, strategic management, and ability to evolve with the times, making it a powerhouse in the world of sports.
Q1: What does it mean for IPL to become a decacorn?
Ans: Becoming a decacorn signifies that the Indian Premier League (IPL) has reached a remarkable brand value of $10.7 billion, experiencing a significant 28% surge. This places IPL in an exclusive club of companies valued over $10 billion.
Q2: How much has IPL’s brand value increased over the years?
Ans: Since its inception in 2008, IPL’s brand value has witnessed a phenomenal 433% increase, as reported by Brand Finance. This growth showcases the league’s sustained popularity and economic impact.
Q3: Who appraised IPL’s ecosystem at over $10 billion?
Ans: Brand Finance is the second company, after D&P Advisory, to appraise the IPL ecosystem at over $10 billion. Houlihan Lokey had earlier estimated IPL’s brand value at $3 billion.
Q4: How many viewers did IPL attract during the 2023 season?
Ans: IPL reached an impressive 505 million viewers on television and an additional 450 million on digital platforms during the 2023 season. Disney Star holds the TV broadcast rights, and JioCinema owns the digital streaming rights.
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