The Indian Premier League (IPL), considered the world's biggest and most expensive cricket league, has recently faced a significant setback. According to reports, the IPL's brand value has registered an 8 percent decline compared to last year.
Sports News: The Indian Premier League (IPL) is known as the world's biggest and most expensive cricket league. Since its inception in 2008, this league has not only been a hub of thrilling matches for spectators but its economic and commercial impact has also helped the BCCI (Board of Control for Cricket in India) become the world's richest cricket board.
A major reason for the IPL's success has been its consistent staging. Whether there were elections, pandemic-like situations, or any other reason, the tournament has been held every year. Each season has reached new heights – new talents have found a platform, team competition has intensified, and the global fan following has also steadily grown.
IPL's Empire and History
The first season of the IPL took place in 2008, and it has been held annually ever since. The success of this tournament has been instrumental in making the BCCI the world's richest cricket board. Over its two-month duration, the league has provided thrilling matches and ample entertainment to millions of cricket fans across the country.
Every year, the IPL continued to reach new heights, feeling like a festival for both players and fans. However, recent reports suggest that the T20 league's luster has dimmed slightly.
Decline in IPL's Brand Value
According to a report released by DD & Advisory, the IPL's brand value is experiencing a continuous decline. In 2023, this value stood at INR 92,500 crore, while in 2024, it decreased to INR 76,100 crore. This signifies a loss of approximately INR 16,400 crore from the league's ecosystem. The report, citing 'Beyond 22 Yards', points to two main reasons that have impacted the IPL's value:
- Merger of Broadcasting Companies – The merger of major broadcasting companies Disney Star and Viacom18 led to a reduction in competition. Decreased competition among media rights holders limited brand and advertising opportunities.
- Ban on Real Money Gaming – The Indian government imposed a ban on real money gaming apps this year. Many such companies were sponsors in the IPL. The ban adversely affected sponsorship and advertising revenue streams.
In India, the IPL is not just a tournament but is considered a festival for cricket enthusiasts. For two months, fans get to witness one thrilling match after another. It's an opportunity for players to showcase their skills against other players from both within the country and around the world.
