Boosted by the resumption of normal services in the aftermath of Covid-19, the Indian Premier League enjoyed a 28 per cent growth in terms of brand value and is now valued at over 10 Billion USD
The Indian Premier League continues to rise and rise in terms of market value, as was confirmed in a report published by Brand Finance, the world’s leading independent brand valuation consultancy service. The cricket club competition is now a decacorn with a valuation of 10.7 billion USD, making it one of the most prominent sporting leagues in the world - and one that has become a beacon for other similar models in the game. (Cricket News)
“The IPL brand stands as a guiding light to all other T20 leagues, illustrating how the business model can be successfully scaled up on a global level. Teams are proactively recruiting professionals to handle year- round player management, organize tournaments, and manage sponsor pools. The key to upholding the IPL brand lies in robust governance. The mother ship must remain steadfast and on course, ensuring a continuous commitment to value creation,” said Brand Finance's Head of Sports Services Hugo Henley of IPL's growth.
Apart from IPL's own offerings, the addition of what is effectively a women's IPL, the Women's Premier League, has added to the tournament's brand value, as has a return to normalcy in the aftermath of Covid-19 and Jio Cinema's provision of free-for-all access in multiple regional languages through their app and website. Morevoer, IPL's continued evolution in terms of rules, matchdays, and other significant factors has also helped the league on its way to the upper echelons of the market.
Furthermore, as per the report, Mumbai Indians are the league's most-valuable brand while Chennai Super Kings the strongest. Lucknow Super Giants, having only finished two seasons in the division, are the fastest-growing team.