The brand value of the Indian Premier League (IPL) has increased by a whopping 80% this year. This is according to the global investment bank Houlihan Lokey which has stated that the stand-alone brand value of the tournament has seen a rise from $1.8 billion in 2022 to $3.2 billion in 2023. Also, Chennai Super Kings, the IPL’s reigning champions, is the most valued franchise after having a brand value of $212 million and are ranked right at the top in terms of brand and business enterprise value. They have growth in brand value of 45.2% every year. Below them in place is Royal Challengers Bangalore, with a brand value of $195 million. Justin Langer in Talks To Become Lucknow Super Giants’ New Head Coach for IPL 2024: Report

According to a report in Business Today, the impact of the IPL media rights auction has made a mark on the business enterprise value of the tournament. Viacom18 and Disney Star were involved in an intense contest to bag the media rights of the tournament. Eventually, both the broadcast giants ended up acquiring the live streaming and the telecast rights, respectively. The IPL currently has a business enterprise value of $15.4 billion which is again an increase of $8.5 billion in 2022.

The media rights of the IPL from 2008-2023 have seen a CAGR (Compound Annual Growth Rate) of 18%. If compared to other top sporting leagues, the IPL’s broadcasting fee, on a per-match basis, actually performs better. While the broadcasting fee for the IPL is $14.4 million, for the NFL, it is $35.1 million. Harsh Talikoti, Senior Vice President, Corporate Valuation Advisory Services at Houlihan Lokey, said, “Created on the American style of franchise-based systems of hiring players, the IPL has established itself as a hugely lucrative sports league, along similar lines as the NFL and the NBA.” BCCI Approves Indian Cricket Teams' Participation in Asian Games 2023; Syed Mushtaq Ali T20 Trophy to Have IPL-Version of ‘Impact Player’ Rule

“This shift is evident in the remarkable viewership numbers witnessed during the current season on Viacom18’s OTT platform, JioCinema. However, Disney Star’s television viewing numbers were also very encouraging this year, achieving record levels,” he added. Viacom18, after acquiring the live streaming rights, had JioCinema provide this match online for the season for free, which drew in a lot of crowds and added to the buzz and popularity of the tournament. Chennai Super Kings won a record fifth title last season after beating Gujarat Titans in a rain-hit final at the Narendra Modi Stadium in Ahmedabad. The MS Dhoni-led outfit is now the joint-most successful team alongside Mumbai Indians, who too have five IPL titles to their name.

(The above story first appeared on LatestLY on Jul 11, 2023 01:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).