Cricket News
‘Share market main list kara do IPL ko’ – Fans react as IPL 2023 brand value increases by 80% in comparison to previous season
The sixteenth edition of the Indian Premier League was one of the most thrilling and exciting seasons of the tournament, which saw a dramatic finish in a rain-affected final. Chennai Super Kings (CSK) registered a thrilling against Gujarat Titans (GT) to clinch their fifth title. The 2023 season of IPL also saw a significant jump not only in the viewership but also in the Brand Value of the tournaments and all the participating 10 teams.
The brand value of IPL 2023 stood at a mammoth $3.2 billion, almost double the brand value of the previous season in 2022 which was $1.8 billion. The business value of the cash-rich league saw an increase of 80% and is worth $15.4 billion in 2023. As per the reports by IT Worth, one of the main reasons for the increase in Brand value was the media rights deal with JioCinema and Disney Star. It was three times the price of the previous five-year between Disney Star and the Indian Cricket Board.
According to the reports by Houlihan Lokey’s IPL Valuation Study 2023, the media rights are expected to increase further in the next season in 2024. Till now, media rights have grown at a CAGR of 18 percent, between 2008 and 2023. “The IPL is expected to go global by the next cycle in 2027 on similar lines to EPL, which would further enhance the growth in its revenue from broadcasting rights,” the report stated.
Highest viewership recorded in IPL 2023
There has been a record-breaking viewership for the tournament in 2023 that was showcased on JioCinema for free after the digital rights were bought by the platform. The platform recorded the highest concurrent viewership when around 32 million viewers tuned in to watch the thrilling final between GT and CSK.
This was a welcome change after the declining viewership of the tournament in 2022. “It was believed that the Indian audience was experiencing what is called IPL fatigue. With digital rights moving to JioCinema, the platform adopted a different strategy—free streaming of the IPL. Clearly, the strategy worked, with record-breaking viewership for IPL 2023, a report by Forbes stated.
— Jim Is Here To Take Care of Him (@RoastHimJim) July 12, 2023
Lsg brand value and veiwership is lost coz their brand KL Rahul played half season
— The Upadhyay🚩 (@the_upadhyayji) July 12, 2023
IPL has got bigger and interesting due to auction. If other leagues was to change their gear and want growth they should also move to auction strategy. It is a like of star players. But no league can come closer to IPL. But IPL matches should not exceed more
— Sports syncs (@moiz_sports) July 12, 2023
— Anshul Thakur (@iamthakuranshul) July 12, 2023
— Jim Is Here To Take Care of Him (@RoastHimJim) July 12, 2023
That’s all bcoz of the marketing efforts and the increasing passion for the game
— Nitin jain(Sachinsuperfan) (@NitinSachinist) July 12, 2023
But IPL brand value expanding at the cost of international cricket is not at all good for the game!! 😔
— NK (@nirmal_indian) July 12, 2023
ICT trophy cabinet in international tournament:-
2008:- 1 WC(1983), 1T20 WC(2007), 1CT(joint winners)2023:- 1WC(2011), 1CT(2013) and a lots of heart brakes
A jump of 2 trophies in the cabinet with a lots of humiliation and heartbreak— Roudra khara (@Roudrakhara3) July 12, 2023
IPL is just casually breaking records like it's no big deal. 💰💥 I guess it's safe to say the league is batting its way to the bank with that impressive jump in brand value.
— SarcasmGPT (@SarcGPT) July 12, 2023
