The BCCI (Board of Control for Cricket in India) owned T20 league, Indian Premier League IPL is one of the biggest sports leagues in the world. People not just in India, but around the world watch this league with so much joy. The IPL brand value has been growing over the years. Ever since the Indian Premier League started in 2008, the league has seen 43% growth. Today, we will give all the details and information on the IPL brand value, which franchise has the best brand value in 2023 and much more. So let’s dive into it quickly.
IPL Brand Value Rises By 28% in 2023
The IPL 2023 saw massive growth as far as the brand value is concerned. According to the Brand Finance report, the IPL brand value has increased by 28% to $10.7 billion. As compared to the other IPL seasons, the brand value of the IPL has consistently increased over the years due to its popularity, massive viewership, lucrative sponsorships, and the presence of international cricket stars participating in the tournament. In 2021, the IPL brand value was estimated to be $ 6.8 billion.
The brand valuation firm has also valued the IPL ecosystem at over $10 billion. They have been calculating the IPL brand value annually since 2009.
Before this, the US investment bank Houlihan Lokey estimated that the Indian Premier League had a $3 billion brand value and a $15 billion corporate enterprise value.
Most Valuable IPL Brand 2023
|Value in USD
|Chennai Super Kings
|Kolkata Knight Riders
|Royal Challengers Bangalore
|Lucknow Super Kings
Why IPL is successful as compared to the other cricket leagues?
There is no doubt that the IPL is the most successful cricket league all around the world as compared to other leagues like CPL, Big Bash, SA20, The Hundred, etc.
See, the major market of the IPL comes from its own country, India. India is the country where the market size is big because of the population. Also, India is the country where cricket as a game has been liked the most. People in India worship cricketers and this game is like a religion in this part of the world. Because of this market, the IPL and the IPL franchises get so many lucrative sponsorships, advertisements, and viewership. Also, IPL as a league has also captured global cricket as well. Other countries where cricket has been played and seen also watch IPL.
The BCCI made so much money by selling the rights of the IPL, which helped increase the IPL brand value.
The appearance of global stars played a huge role
IPL brand value also roses because all the big cricket players around the world feature in the league. IPL is the only league where most of the big players play as compared to the other leagues. So the combination of big superstars along with the local Indian talent makes it more interesting for the viewers.
Franchises-based loyal fanbase
Other than those factors, the league has different teams named by the different cities and states. So that also helps in building a loyal fanbase of the team. Also, the franchises use social media to engage with the fans, giving them insights and behind the scenes, interactive content, live updates, and glimpses. It also forms a connection between the teams and their fans.
More than cricket, the IPL also brings the entertainment part like music, dance, cheerleaders, and celebrity involvement during matches, enhancing the overall entertainment value.
Now let’s see the brand value of all the franchises in IPL 2023
Mumbai Indians and Chennai Super Kings are the top two in the list
As per the Brand Finance report, Mumbai Indians is the most valuable IPL franchise as of now. Their brand value rose by 5% to $87 million.
CSK’s IPL brand value rose by 9% to $80.6 million. They go past KKR, which also saw a 2% increase in its IPL brand value. KKR’s IPL brand value is $78.6 million.
RCB, despite not winning any IPL title has been one of the top 5 franchises in terms of a brand. They have a brand value of $69.8 million.
CVC Capital, which owned Gujarat Titans, saw an increase of 38% in their franchise’s brand value. Currently, their brand value is %65.4 million.
LSG’s biggest jump in the IPL brand value
In 2023, the LSG franchise saw the biggest jump in its IPL brand value. Their brand value increased by 48% only in two seasons. Their brand value currently is $47 million.
Delhi Capitals’ brand value currently is 64.1 million. Rajasthan Royals, who won the inaugural Indian Premier League title saw an increase of 3% to $62.5 million.
SRH saw a Decrease in its Brand Value
SRH is the only franchise that saw a decline in its IPL brand value. Currently, they are valued at $48.2 million. One of the main reasons for their decline is their underperformance in the last few seasons. SRH won their only title in 2016. But, they didn’t even come close to winning the title in the last few seasons.
Also, not having a big superstar in the team, particularly a big Indian cricketer is one of the reasons for their decline. Punjab Kings are valued at $45.3 million currently.
So these are the brand values of all the IPL franchises. Which franchise is your favorite in the league? Comment below.
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(1) What are the viewership numbers in the Indian Premier League 2023?
On TV, the IPL 2023 reached 505 million viewers across the globe. If we talk about the digital viewership, 450 million viewers watched the IPL 2023.
(2) Is IPL the biggest sports league in the world?
IPL is surely the biggest cricket league in the world. But, according to the reports of Times of India, they are in the 2nd place in the world’s biggest sports leagues. NFL (National Football League) stands out as No. 1. A single game of NFL costs about %17 million to the broadcaster. The IPL is 2nd in the list, with $13.4 million.