BCCI reveals IPL's total brand worth

The Board of Control for Cricket in India (BCCI) has revealed that the Indian Premier League (IPL) is worth $4.5 billion which is INR 27,000 crore. BCCI has revealed it in its annual report for the year 2015-16 which was calculated by valuation appraisal firm Duff and Phelps.

The board had recently floated a tender for the IPL’s global media rights (TV and digital) for 10 years, for which Sony Pictures Network India (SPNI) and Star Sports might be seen in a tight competition as they spend more than $4 billion to buy them.

“According to the Broadcast Audience Research Council of India, the total TV viewership of IPL 2016 calculated by impressions stood at 102 crores. A report by management consultancy firm KPMG puts the total impact of IPL 2015 on the Indian economy at Rs 1,150 crore, more than 0.6 % of the country’s GDP,” says the report.

BCCI President Anurag Thakur was quoted saying to the TOI that the cash-rich tournament has been a sure-shot hit and he feels that it has also changed the landscape of domestic sport in the country.

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“The IPL’s been a sure-shot hit on the field and off it too. On the field, it has given the talented players a stage and a platform to exhibit their skills. It has brought the cultures of cricketing countries together and gives youngsters a unique opportunity to see the greatness in front of their eyes and learn from them. It has been the fastest-growing league in the world, and it has also changed the landscape of domestic sport in the country. After the IPL was launched in 2008, many other sports have started such leagues. Numbers prove that the IPL has set a benchmark, and at the BCCI, we’re extremely proud of this,” said Thakur.

Another BCCI official claimed that IPL is growing 20% every year as he pointed out how a brand can easily become a household name by sponsoring IPL, “The IPL is growing by 20% every year. It is a broadcasters’ delight and a preferred platform for all the advertisers. Look at how Vivo (mobile company) has become a household name after becoming the title sponsor of the league. Expect the digital rights of the event to soar exponentially in the coming years, which is why they’ve been sold for only five years.”

Vivo, according to estimates, is expected to have paid around INR 100 crore to buy the title sponsorship of IPL this year.