IPL 2023 ad revenue crosses ₹10,000 crore

livemint.com:

₹10,120 crore, according to a recent report. Out of this, the Board of Control for Cricket in India (BCCI), franchise owners, and broadcasters directly earned 65%, while the remaining was earned indirectly. Star Sports and Jio Cinema, the event’s broadcasters, accumulated ₹4,700 crore through advertising.Franchises earned about ₹1,450 crore and BCCI got about ₹430 crore.

Besides, a report by consulting firm Red Seer said fantasy sports platforms earned revenues of ₹2,800 crore in this IPL season. Approximately 61 million users participated in fantasy games on the platforms, when the matches were in progress. Although the revenues fell short of Red Seer’s initial estimates by ₹100 crore, it was still 25% up from last year’s ₹2,250 crore.

Red Seer explained that gross gaming revenue refers to commission earned by these platforms before factoring in goods and services tax, cashback, and bonuses. “Our estimates, showed ₹10,000 crore was spent on advertising, on which BCCI, broadcasters and the franchises, earned 65% of the total spending as direct revenue. The remaining 35% was indirect revenue, from ad revenues by social media, traditional media and internet platforms," said Ujjwal Chaudhry, a partner at Red Seer.

Revenue growth was driven by two major factors: transacting users and average revenue per user grew by 11% and 12%, respectively, over the 2022 edition. However, a few platforms dominated this space, with the top three alone capturing 96% of the share. Only 13% of the revenue was from non-IPL sporting events this season.