The appreciation of IPL cricket in India is increasing

The Indian Premier League cricket universe has become one of Asia’s most valuable sporting properties. US investment bank Houlihan Lokey says the IPL’s corporate and brand assets now total $16.4 billion.

Launched in 2007, the tournament features franchises based in key Indian cities, many of which are backed by Bollywood celebrities and major company bosses. Using the made-for-television format of 20 overs per innings, it has proven hugely popular with audiences and sparked an industry-changing rivalry between media groups.

The IPL’s standalone brand value has risen 6.3% to $3.4 billion (INR 28,000 crores) over the past year, Houlihan Lokey estimates. Title sponsorship, secured by the Tata Group for a new five-year period from 2024 to 2028, has increased to approximately $300 million, a 50% increase over the previous season’s costs.

On an average, a T20 match has around 80 to 100 ad spaces strategically placed between overs, innings break, timeouts and after the fall of wickets. The bank compares the series to the NFL’s Super Bowl, where new TV commercials are launched every year. This year, advertisers ranging from fantasy apps, FMCG, FinTech, banking and consumer electronics released new TV commercials during the games.

Individual franchises are also becoming increasingly valuable. “The eight existing teams that have been part of the IPL for a long time can now earn significant profits from both the revenue sharing of the central pool and their own franchisees’ income from sponsorship, receipts and merchandise sales,” the bank said. .

The Chennai Super Kings, ranked No. 1 in both the brand and company value rankings, are worth an estimated $231 million. They are the most consistent team in the league, having qualified for the play-offs in 12 of 15 seasons and winning five titles. Shah Rukh Khan’s Kolkata Knight Riders is close behind after rising 19% to $216 million.