The Indian Premier League (IPL) has reached a new height of success as it has become a decacorn, a business whose valuation is more than USD 10 billion. The world’s leading brand valuation consultancy, Brand Finance, revealed that the IPL’s brand value jumped by 28% to a whopping USD 10.7 billion in 2023, compared to USD 8.4 billion in 2022.
The IPL, which is one of the biggest sporting leagues in the world, has seen its brand value surge by 433% since its inception in 2008. The report attributed this remarkable growth to the IPL’s triumphant return to full-capacity stadiums, increasing viewer consumption on various devices, massive media partnerships, and revived confidence among advertisers.
Mumbai Indians – The Most Valuable IPL Team
The report also ranked the brand values of the IPL franchises, with Mumbai Indians topping the list at USD 87 million, followed by Chennai Super Kings (CSK) at USD 81 million. Kolkata Knight Riders (KKR) and Royal Challengers Bangalore (RCB) came third and fourth respectively, while IPL 2022 winner and IPL 2023 finalists Gujarat Titans climbed to the fifth spot with a 38% increase in brand value. Lucknow Super Giants (LSG) was the fastest-growing IPL brand with a 48% growth, securing the eighth position.
The report also gave an AAA rating to CSK in terms of brand strength, with a Brand Strength Index (BSI) score of 81.8 out of 100. Gujarat Titans and Mumbai Indians were second and third respectively in this category.
The report also praised the introduction of the Women’s Premier League (WPL), which boosted the respective brand values of the teams. It also highlighted the notable changes in the IPL 2023 format, such as 52 matchdays, the impact player rule, and the Decision Review System (DRS), which brought renewed excitement to the IPL audience. The report also lauded Jio Cinema, owned by Mukesh Ambani, for offering free streaming of matches in over 15 languages.
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