The Indian Premier League cricket universe has emerged as one of Asia’s most valuable sports properties. U.S. investment bank Houlihan Lokey says that the business enterprise and brand values of the IPL combined now total $16.4 billion.
Launched in 2007, the tournament involves franchises based in key Indian cities, many of which are backed by Bollywood celebrities and big business bosses. Deploying the made-for-television, 20-overs per innings format, it has proved immensely popular with audiences and caused industry-shifting rivalry between media groups.
The stand-alone brand value of the IPL has increased by 6.3% to $3.4 billion (INR 28,000 crores), over the past year, Houlihan Lokey reckons. Title sponsorship, secured by the Tata Group for a further five-year period, from 2024 until 2028, has risen to approximately $300 million, a 50% increase over the previous per season cost.
On average, a T20 match will have around 80 to 100 ad slots strategically placed between overs, innings break, timeouts, and after fall of wickets. The bank compares the series to the NFL’s Super Bowl, where new TV commercials are launched every year. This year saw advertisers ranging from fantasy apps, FMCG, FinTech, banks and consumer electronics releasing new TV commercials at the games.
The individual franchises are also increasingly valuable. “The eight legacy teams that have been a part of the IPL for a long time are now able to reap substantial profits from both the central pool’s income distribution and their own franchisee revenues from sponsorships, gate receipts, and merchandise sales,” the bank says.
The Chennai Super Kings, ranked No.1 in both brand ranking and business value ranking, is calculated to be worth $231 million. It is the most consistent team in the league, having qualified for the playoffs in 12 out of their 15 seasons and won five titles. Shah Rukh Khan’s Kolkata Knight Riders is close behind after a 19% surge to $216 million.