The Indian premier league’s (IPL) brand value is at $3.2 billion in 2023, from $1.8 billion in 2022, an increase of 80 percent, according to Houlihan Lokey’s IPL Valuation Study 2023. The league’s business value also saw an increase of 80 percent and is worth $15.4 billion in 2023. One of the main reasons for this increase is the media rights deal with JioCinema and Disney Star, which is 3x the price of the five-year deal between Disney Star and the Board of Control for Cricket in India (BCCI) in 2017.
As per the report, the media rights are expected to further increase during the next cycle. So far, the media rights have grown at a CAGR of 18 percent, between 2008 and 2023. “The IPL is expected to go global by the next cycle in 2027 on similar lines to EPL, which would further enhance the growth in its revenue from broadcasting rights,” stated the report.
Chennai Super Kings (CSK) was the number one IPL franchisee in terms of brand valuation, with $212 million in 2023, witnessing a growth of 45.2 percent from $146 million last year. Reason? Without a doubt the team’s captain MS Dhoni’s cult fan following and five title wins. This has helped in creating a strong brand identity.
Following CSK is Royal Challengers Bangalore (RCB) at number two. The team’s brand value grew by 52.3 percent to $195 million in 2023, from $128 million in 2022. With a lot of popularity on social media and the presence of Virat Kohli, the brand has been a fan favourite for years now.