Record-Breaking Brand Valuation: IPL’s Soaring Financial Success
In a survey, brand valuation firm Brand Finance stated that following the 2023 season, the Indian Premier League’s (IPL) overall brand value increased by an astounding 28% to $10.7 billion (about ₹89,232 crore). Since its debut in 2008, the premier sporting event in India has seen a 433% increase in brand value.
The analysis attributed this year’s increase in the annual cricket tournament’s brand value to large crowds in stadiums, increased internet and other media consumption of IPL events, and mega-media collaborations.
Franchise Dynamics: Mumbai Indians Lead the Valuation Race
Mumbai Indians, valued at $87 million, were determined by the consultant to be the most valuable franchise brand in the Indian Premier League.
The second team on the list, the Chennai Super Kings captained by Mahendra Singh Dhoni, has a brand worth of $81 million. The next two teams, CSK at $78.6 million and RCB at $69.8 million, are Kolkata Knight Riders (KKR) and RCB.
Strategic Growth Stories: Gujarat Titans and Lucknow SuperGiants
In terms of brand value, Gujarat Titans has improved the most, moving up from eighth place to fifth this year. This year, its brand worth rose by 38%.
With every IPL season that goes by, Rajasthan Royals (RR) and Royal Challengers Bangalore (RCB) demonstrate their strength as brands by continuously enhancing their image in cricket. According to the research, while RR is creating a worldwide T20 ecosystem and expanding its cricket offerings across several locations, RCB is still the highly regarded squad that has never won an IPL championship.
The Lucknow SuperGiants (LSG), up an astounding 48%, are the fastest growing IPL brand, coming in at number eight with a brand worth of $47 million.
As per Brand Finance, the launch of the Women’s Premier League (WPL) resulted in an increase in the clubs’ individual brand values.
“Notable changes, including 52 matchdays, the impact player rule, and the Decision Review System (DRS), bring renewed excitement to the IPL 2023 audience,” concluded the research.
The paper also praised Jio Cinema, owned by Mukesh Ambani, for providing free match streaming in more than 15 languages.
“Jio Cinema’s innovative approach includes analytics-backed flexible pricing for advertisers, ensuring sustained marketer interest throughout the season,” according to the article.
Beyond the Numbers: CSK’s Dominance and IPL’s Global Influence
According to the survey, CSK became the strongest IPL brand in 2023 with a AAA- grade.
Apart from assessing brand value, Brand Finance also uses a balanced scorecard of indicators to evaluate shareholder equity, marketing investment, and company performance in order to estimate the relative strength of brands. In accordance with ISO 20671, Brand Finance’s evaluation of stakeholder equity integrates primary market research data from more than 100,000 participants in 38 nations and 31 industries. Chennai Super Kings, with a Brand Strength Index (BSI) score of 81.8 out of 100, is the strongest IPL brand, according to this research, which was published in the report with a AAA- grade.
CSK’s BSI score was comparable to that of German automaker Mercedes Benz and the massive Chinese social media platform TikTok. In terms of brand strength, the Mumbai Indians and Gujarat Titans rank second and third, respectively.
“The IPL brand stands as a guiding light to all other T20 leagues, illustrating how the business model can be successfully scaled up on a global level,” stated Hugo Hensley, Head of Sports Services, Brand Finance, London. Professionals are being aggressively sought after by teams to manage sponsor pools, competitions, and player administration throughout the year. Strong governance is essential to maintaining the IPL brand.”