According to a report by global investment bank Houlihan Lokey, the standalone brand value of the Indian Premier League (IPL) reached $3.2 billion in 2023, marking an 80 per cent increase from $1.8 billion in 2022.
The business enterprise value of the IPL is estimated to be $15.4 billion, also an 80 per cent increase from $8.5 billion in 2022, thanks to the recent media rights deal with Viacom18 and Disney Star.
The report highlights the IPL's remarkable growth in media rights, with a compound annual growth rate (CAGR) of 18 per cent from 2008 to 2023.
When comparing broadcasting fees per match with other professional leagues globally, the IPL stands out, surpassing leagues like the National Basketball Association (NBA), the English Premier League (EPL), and the Bundesliga, and coming second only to the National Football League (NFL).
In terms of franchise rankings, the report identifies the Chennai Super Kings (CSK) as the most valuable franchise, with a value of $212 million, representing a 45 per cent year-on-year growth. CSK also secures the top position in both brand and business enterprise value rankings.
The Royal Challengers Bangalore (RCB) follows closely behind with a brand value of $195 million, experiencing the highest incremental growth in brand value year-on-year at 103 per cent.
The Mumbai Indians take the third spot with a brand value of $190 million, marking a 34.8 per cent increase. Kolkata Knight Riders (KKR) ranks fourth with a value of $181 million, while the Delhi Capitals claim the fifth position with a brand value of $133 million.
Harsh Talikoti, Senior Vice President of Corporate Valuation Advisory Services at Houlihan Lokey, commented on the IPL's success, likening it to American franchise-based sports leagues such as the NFL and the NBA.
Talikoti also noted the significant shift towards digital platforms for sports consumption, with Viacom18's focus on promoting digital viewership in India revitalizing the excitement surrounding the IPL.
The report acknowledges the remarkable viewership numbers on Viacom18's OTT platform, JioCinema, during the last season. Additionally, Disney Star's television viewership also reached record levels, indicating the acceptance of digital and traditional platforms for IPL viewership.
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