Sports

IPL skyrockets to $10.7B valuation, MI emerges as top asset

• ByStartupStory     |    December 14, 2023

The Indian Premier League (IPL) has ascended to decacorn status, reaching a staggering $10.7 billion in brand valuation, marking a remarkable 28% increase as reported by Brand Finance. From its inception in 2008 with a $2 billion valuation, the IPL has soared by a staggering 433%, cementing its position as a premier privately held enterprise, encapsulating the essence of a decacorn.

This exponential surge in valuation has been attributed to various pivotal factors. A resurgence in full-capacity stadium events, augmented viewer engagement across diverse digital platforms, substantial media collaborations, and a resurgence in advertiser confidence have notably contributed to this growth. Moreover, the introduction of the Women’s Premier League (WPL) and the provision of free access via the JioCinema app have fortified the league’s brand value, expanding its reach and inclusivity.

Hugo Hensley, the head of Sports Services at Brand Finance, highlighted the IPL’s pioneering role in setting global benchmarks for T20 leagues. The league’s strategic initiatives, including professional player management, tournament organization, and adept sponsor engagement, have set a precedent for others to follow.

Mumbai Indians emerged as the most prized franchise with a valuation of $87 million, maintaining its top position since 2020. Chennai Super Kings, following closely behind, surged ahead of Kolkata Knight Riders, marking a valuation of $80.6 million. Kolkata Knight Riders secured the third spot at $78.6 million, with Royal Challengers Bangalore following suit at $69.8 million. Gujarat Titans rounded off the top five franchises, boasting a valuation of $65.4 million. Notably, CSK’s brand value has more than doubled since its inaugural year in 2008.

Furthermore, the report introduced the “Brand Strength Index” (BSI), gauging a team’s marketing investment, brand familiarity, loyalty, staff contentment, and corporate reputation. Chennai Super Kings emerged as the epitome of a “strongest brand,” clinching the top spot with an impressive BSI score of 81.8 out of 100.

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