The Indian Premier League (IPL) witnessed a remarkable 28% growth in its brand value after the 2023 season, reaching a mammoth $10.7 billion (around `89,232 crore), as per a report by brand valuation consultancy Brand Finance. And that implies a 433% growth in brand value since its maiden season in 2008.

“IPL’s success is driven by the fact that all key India team players participate in the League, the largely evening match timing is conducive to India viewership; the inclusion of leading global cricketing talent means that matches are of significantly high quality and most importantly, the positioning and programming is attuned to family, and not just men, giving it a much wider appeal,” says Ashish Pherwani, leader for the Media & Entertainment sector for EY in India.

Gujarat Titans is the biggest gainer as far as the brand value is concerned – it jumped from No. 8 in the 2022 season to No. 5 in 2023. Its brand value soared 38% this year. GT is also the second-strongest IPL franchise brand, right behind Chennai Super Kings.

The report attributes the immense surge in IPL value to factors such as huge spectator turnout at the match venues, growing online viewership of IPL matches and strategic media partnerships. Television remains the favoured mode of consumption for IPL viewers, a report from Hansa Research showed. Indeed, its television broadcaster Disney Star had said after the conclusion of this year’s tournament that the 2023 edition was its biggest season ever, registering over half a billion viewers. JioCinema, the official streaming partner, said a record 449 million of total viewers tuned in on the OTT platform for IPL coverage.

“The Women’s Premier League (WPL) introduction has significantly boosted teams’ brand values by addressing equity gaps and elevating IPL governance standards.” noted the Brand Finance report.

Jio Cinema also got a back on the back from Brand Finance: Its offering of free-to-view access to all telecom users across devices in over 15 regional languages has significantly enhanced the IPL viewership market, the report said.

The IPL is now an ideal platform to launch new products and initiatives, reaching the largest audience base in India. “The IPL’s success teaches corporations the importance of balancing tradition with innovation, creating a compelling narrative, and constantly adapting to meet consumer expectations,” says Gautam Madhavan, founder and CEO, Mad Influence. “Learning from the IPL, corporations should prioritise fan engagement, embrace diversity, and create immersive brand experiences.”

Ajimon Francis, managing director, Brand Finance India, commends the IPL property for paving the way for a global T20 business ecosystem. “More and more franchise owners will be taking their brand of cricket to newer potential markets in MEA, USA, APAC,” he says.

That said, American football league National Football League, or NFL, remains the most valuable sports league globally with an estimated revenue of $18 billion in 2022. At No. 3 and following the IPL is America’s Major League Baseball with an estimated $11.5 billion in revenue.

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