IPL Brand Value Reaches $12 Billion, Among Top 10 Most Valuable IPL Brands in 2024
The total brand value of IPL, the world’s most popular T-20 cricket league, increased by 13 per cent over last year and reached $12 billion, or Rs 1.01 lakh crore. This information was given in the new report from Brand Finance, a brand valuation company.
For the first time in 2023, the total value of the IPL brand exceeded $10 billion. Last year, it stood at $10.7 billion (Rs 90,679 crore). While in 2009, the valuation was $2 billion or Rs 16,943 crore. The Indian Premier League started in 2008. Brand Finance has been reporting on IPL brand value since 2009.
The brand value of four teams exceeds $100 million for the first time. The Brand Finance report also states that all four IPL teams – Chennai Super Kings (CSK), Mumbai Indians (MI), Royal Challengers Bangalore (RCB) and Kolkata Knight Riders (KKR’s brand value has also crossed $100 million (Rs 847 crore) for the first time.
CSK has the highest brand value among the 10 IPL teams. Chennai’s value increased by 52% to Rs 1,033 crore. Mumbai ranks second in terms of brand value, its valuation increased by 36% to Rs 1,008 crore.
RCB ranks third with a brand value of Rs 991 crore (+67%). KKR ranks fourth with a brand value of Rs 923 crore (+38%). The SSR is fifth on this list.
Highest growth in brand value of Sunrisers Hyderabad Sunrisers Hyderabad has the highest growth in brand value among all teams. The team’s valuation increased by 76% to Rs 719 crore. This reflects the league’s growing international influence and financial achievements.
Gujarat Titans brand value increased the least by 5%, while Rajasthan Royals brand value increased by 30%, Delhi Capitals by 24%, Punjab Kings by 49% and Lucknow Super Giants by 29%. Gujarat Titans brand value grew the least, by just 5%.
According to Brand Finance, there is a lot of potential for expansion in the top 5 IPL teams. These teams have the potential to increase their brand value to the level of the top 5 teams in popular football leagues – English Premier League (EPL), La Liga, Bundesliga, Serie A and Ligue 1.
The Gujarat Titans franchise made its IPL debut in 2022 and the team also became champions in the same year. In 2023, Gujarat lost to Chennai in the final.
The combined brand value of the top 5 IPL teams is Rs 4,667 crore. The combined brand value of the top 5 IPL teams is $551 million or Rs 4,667 crore, which is much lower than that of the football league. The combined brand value of the top 5 teams in the Bundesliga is $2.9 billion, or Rs 24,566 crore. The brand value of the top 5 teams in the EPL is $6.7 billion (Rs 56,756 crore).
IPL is a model for leagues around the world According to Azimon Francis, Managing Director, Brand Finance India, IPL’s efficient business structure and organization of matches has become a model for leagues around the world. Due to which the position of the BCCI was strengthened and at the same time opportunities opened up for the growth of domestic cricketing talents.
The IPL ecosystem is now worth $1.3 billion (around Rs 11,016 crore) and is closely watched across the world. Franchise teams CSK, MI, RCB, KKR and RR are global brands today and actively participate in many T-20 leagues across the world.
IPL creates 1.25 million jobs in India According to Brand Finance’s analysis, the impact of IPL on sports business has been highlighted. IPL creates 1.25 million job opportunities across direct and indirect sectors in India, while its impact extends to markets like UAE, Saudi Arabia, USA and Australia .
What is the brand value?
Brand value is the value of a league’s entire ecosystem. The brand value of a tournament is determined by its broadcast rights, revenue, stadium attendance, sponsors, title rights, viewers and online viewers, player rates, team rates and advertising.
The brand value of IPL will be Rs 1.01 lakh crore in 2024. This means that if anyone wants to become an owner of IPL, they will have to pay Rs 1.01 lakh crore to the BCCI.