Picture Credit: BCCI/IPL
The Indian Premier League (IPL) has crossed the combined brand value of $10 billion mark to become a decacorn. As per the latest reports, IPL's brand value is $10.7 billion which is a 28% rise to the $8.4 billion value in 2022. As per Brand Finance, the total brand value of the IPL has gone up to 433 per cent since its launch in 2008.
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The report further revealed that the IPL's significant growth has been empowered by factors like the media rights deal rising to $6.2 billion (INR 48,390 crore), an increase in the central pool of IPL revenues, the two new franchise teams, and the return of full stadium attendance in 2023 after the Covid-19 pandemic.
Mumbai Indians - Most Valuable Brand in IPL
The Brand Finance report further revealed that five-time champion Mumbai Indians is the most valuable IPL brand at $87 million, ahead of five-time winner Chennai Super Kings, the second most valuable brand with a value of $81 million. The two-time winners Kolkata Knight Riders and Royal Challengers Bangalore at $78.6 million and $69.8 million, respectively are the two franchises in the top five spots.
IPL 2022 winners Gujarat Titans made an astronomical increase in its brand value with a 38 per cent growth and is in fifth position making a massive jump from the place last year. The other new franchise, Lucknow Super Giants is eighth with a brand value of $47 million making them the fastest-growing IPL brand with a 48 per cent growth.
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Talking about this mammoth growth, Managing Director of Brand Finance India, Ajimon Francis talked about how the league has grown at a global scale in potential markets. He said: "IPL 2023 is paving the way for a global T20 business ecosystem as more and more franchise owners will be taking their brand of cricket to newer potential markets in the Middle East, USA, Asia-Pacific. Franchise owners are now seeing a year-long commitment from players for various leagues played globally."
