Sports

IPL’s valuation rose to $10.7 billion, shifting to deca-corn – Magazine Creations

The value of the Indian Premier League (IPL), one of the world’s largest sports leagues, jumped nearly 28% to $10.7 billion in 2023 from $8.4 billion in 2022. The overall brand value of the IPL system rose by 433%. Since its launch in 2008, it has been the world’s leading brand valuation consultancy, Brand Finance said in a statement. Decathlon refers to a company worth more than $10 billion.

The IPL’s triumphant return to full-capacity stadiums, increased viewer consumption on diverse devices, mega media partnerships and renewed confidence among advertisers have collectively boosted its brand value, the report said.

“The IPL brand stands as a guiding light for all other T20 leagues, demonstrating how the business model can be successfully scaled globally,” said Hugo Hensley, Head of Sports Services at Brand Finance, London. “Teams are proactively recruiting professionals to handle player management on a global scale.” “Round the year, organizing tournaments, managing sponsorship groups. The key to sustaining the IPL brand is strong management. The mothership must remain steady and on track, ensuring continued commitment to value creation.”

Franchise brand value

Mumbai Indians maintains its position as the highest IPL franchise in terms of brand value – at $87 million, followed by Chennai Super Kings (CSK) with a brand value of $81 million, the report said. This is followed by Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) with $78.6 million and $69.8 million respectively.

Gujarat Titans has registered a significant increase in brand value with a significant growth of 38% this year. The franchise finished fifth versus eighth last year. Both Rajasthan Royals and Royal Challengers Bangalore are constantly building their brand and have proven to be formidable brands with each passing IPL season. Lucknow Super Giants (LSG), which secured the eighth position with a brand value of $47 million, was the fastest growing brand in the IPL with an impressive growth of 48%.

Brand strength

In terms of brand strength, Chennai Super Kings is the strongest brand in the Indian Premier League, achieving a AAA rating with a Brand Strength Index (BSI) score of 81.8 out of 100, followed by Gujarat Titans and Mumbai Indians in second and third places respectively, it said. the report.

Women’s Premier League

The report noted that the introduction of the Women’s Super League significantly enhanced the brand values ​​of the teams by addressing equity gaps and raising the governance standards of the ISL. Notable changes, including 52 match days, the influential player rule, and the Decision Review System (DRS), bring renewed excitement for IPL 2023 fans.

Blast watching

The report also noted that increased viewership through additional platforms helped drive brand value growth. Jio Cinema’s free-to-view access to all telecom users across devices in more than 15 regional languages ​​has significantly boosted the IPL viewing market. IPL has maximized engagement potential by offering a live match experience through stadium events and IPL theme parks in Tier 1 and 2 cities, creating a ripple effect on sponsoring F&B brands and merchandise sales.

Open a world of benefits! From helpful newsletters to real-time inventory tracking, breaking news and a personalized newsfeed – it’s all here, with just one click! Log in now!

Get all the sports news and updates on Live Mint. Download the Mint News app for daily market updates and live business news.

More less

Published: 13 December 2023, 07:05 AM IST

ustby

Sponsored Links Available Discover a world of inspiration at Magazine Creations. Dive into our diverse categories – Business, Guide, Lifestyle, Sports, Technology, Travel, and Trends – and fuel your passion for the latest insights. Uncover the trends shaping industries, lifestyles, and beyond. Explore Magazine Creations and stay ahead of what's next Email us at: magazinecreations070@gmail.com

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button