IPL brand value rises 28% this year: Mumbai Indians most valued, Lucknow team grew fastest
IPL has seen a 433% growth in brand value since its inception in 2008 and has acquired the status of a decacorn, says Brand Finance’s latest report
India’s most-sought-after media property the Indian Premier League (IPL) has witnessed 28% growth in its brand value after the 2023 season, reaching $10.7 billion (around Rs 89,290 crore), as per the latest report by Brand Finance.
The popular cricket league has seen a 433% growth in brand value since its inception in 2008.
The report attributes this enormous growth to the return of the IPL to full capacity stadiums across India, the surge in viewer consumption on various devices, the diverse array of media partnerships, and the renewed confidence among mainstream advertisers and sponsors.
“The IPL is now, more than ever, a potent brand asset capable of reaching the largest audience base in India, making it an ideal platform to launch new products, initiatives, and more,” stated the report.
Jio Cinema’s offer 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 noted.
Mumbai Indians at top
Mumbai Indians is the most valuable franchise brand in the IPL with a valuation of $87 million. Chennai Super Kings is second on the list with a brand value of $81 million. Kolkata Knight Riders and Royal Challengers Bangalore follow CSK with $78.6 million and $69.8 million, respectively, as per the report.
Lucknow Super Giants, which entered in the fray in 2022, is at a modest $48.2 million, but the team’s brand value has soared 48 per cent this year, finds the study which is highest among all teams including Gujarat Titans whose value grew 38 per cent.
“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.
