The craze of cricket doesn’t seem to die down anytime soon. It has been around since decades and still going strong. There is a total of 104 nations from the world that are a part of international cricket Council. The emergence of Indian Premier League also known as IPL has been relatively new but it has soon become the world’s richest tournament. In 2018 itself the value of IPL was as high as $6.3 billion according to a survey conducted by the financial advisory.
According to the latest buzz in the media, the blockbuster Indian premier league is giving out tough competition to the rival English Soccer. The Indian Premier League had its 12th tournament in 2019. Star Sports which is one of India’s leading sports channel is the official broadcasting partner of IPL and they expect regular 700 million viewers every year while they provide commentary in six languages as well. Let’s take a look at how much money does IPL make.
It is widely known that around 60 % of the revenue for IPL comes from revenues and is distributed among franchises. The higher the revenue, the higher the profit will be. BCCI invites bids to get the maximum partnership and sponsors for the empires as well. There are extended ad breaks which may annoy the viewers during the game play but it provides the sponsors with great profits.
Title sponsorship fee of Indian Premier League from 2008 to 2022
The title sponsorship feel of IPL keeps increasing each year and will rise more in years to come. Vivo who is a sponsor of the tournament has been paying 4,480 million Indian rupees. The rise of IPL income is touching around 5.13 billion. Vivo is a successful Chinese brand who was gotten the broadcasting rights of IPL so many people are able to stream it online throughout the world.Vivo’s deal was done at a very high price of 2199 crores or 330 million dollars. This big amount is becoming stronger than ever and Vivo are expecting to make 440crores per year.
BCCI signs a deal with a broadcasting channel at very high rates much before the season begins.It have been a trend that Star Sports has officially been taking the rights to broadcast IPL on their channel.Starsports buys the rights at whopping rates of Rs 16,347 crore or $2.55 billion and the deal is supposed to continue till 2023. The IPL10 broadcaster Setmax channel made around ₹ 1,300 crores.
IPL has now become a brand in India and it has a great value of its own. The market leadership and profitability is usually determined through the brand value. The brand value of IPL in 2018 was around US$6.3 billion. According to a report from BCCI, in 2015 the IPL season contributed ₹12,543.5 billion to the GDP of the Indian economy. There were around 34 brands for 2018 season and each brand is expected to make at least 80 crore on an individual basis. The most prominent brands like brands like Polycab, Parle, AMFI, Make My Trip, Vimal Pan Masala, Asian Paints, and Dream 11 are associate sponsors of this dynamic season.
The sponsors of IPL also make money through selling tickets at high prices. In 2016 the sponsors earned around 160 crore rupees with the ticket sales as many people came to the stadium to watch live cricket. The cricketers who become a part of IPL season become overnight stars and sometimes the ticket prices are hiked due to their presence as people love to watch their game.